To Harness Nigeria Economic Potentials, Export Trade Should Be Embraced – Prince Bakare

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Prince Adeyinka Bakare , President General of National Association of Freight Forwarders and Consolidators (NAFFAC)

 

 

Prince Adeyinka Bakare , President General of National Association of Freight Forwarders and Consolidators (NAFFAC)

 

The President General of National Association of Freight Forwarders and Consolidators (NAFFAC), Prince Adeyinka Bakare has disclosed that if Nigeria potentials are well harnessed, the country stand a chance to benefit greatly in the exportation of her commodities to other countries of the world.

 

Prince Adeyinka Bakare who was speaking at a roundtable meeting organized by the Association of Maritime Journalists of Nigeria (AMJON) on Wednesday in Lagos, explained that poor foreign exchange rates against the Naira is a discouraging factor to international trade but very optimistic that non – import trade would further grow the economy when government prioritize cargo exportation.

According to him, Nigeria businesses may suffer major setbacks if government fails to resolve some of the bottlenecks on the movement of goods from all the entry points and international frontiers.

L-R: Paul Ogbuokiri, AMJON President,
Prince Adeyinka Bakare , President General, National Association Of Freight Forwarders and Consolidators (NAFFAC)

Speaking on Africa Continental Free Trade Area (AFCTA), Prince Bakare urged federal government to look into the issue of multiple checkpoints along the Lagos-Badagry corridor and other entry points across the six geopolitical zones in other to encourage Nigeria participation in the AFCFTA Agreement, adding that Nigerian goods and services have potentials to compete favourably in the region.

Expressing concerns over the multiple checkpoints manned by security agencies and touts, saying that the illegalities would further affect foreign and local investment, Prince Bakare lamented that the association has engaged government at all levels in furtherance to tackling the illegalities along the Lagos Abidjan corridor .

In his words “There are only five checkpoints between Ghana and Benin but Nigeria has over 30 checkpoints manned by operatives of the government which i described an extortion of the highest order.

 

“Trade barrier must be eliminated for the country to participate fully in AFCFTA, the president Bola Ahmed Tinubu led administration should see to it that the number of checkpoints along the routes is reduced to encourage international trade” he said.

 

Reiterating the association’s commitment towards encouraging exportation, he hinted that freight forwarding business is beyond import , urging government to look inward to put in place policies to drive export. “Government needs to listen to this call because all our export supposed to be on CIF which is Cost Insurance and Freight and not the other way round.

“The issue of multiple checkpoints along the entry points is killing the business and it will affect the AFCFTA. The multiple checkpoints is not limited to Lagos Abidjan corridor alone. It is common in the northern region of the country and government is not doing anything about it” Prince Bakare quipped.

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