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Nigerian cargo exports increase

According to Ifeoma Okeke from Nigerian Aviation Handling Company Plc, exports have increased in volume by 50%.

''When there is a devaluation of the naira or the local currency, it promotes exports because of the exchange rate. When agricultural products are grown locally and taken abroad, people earn that same foreign exchange back to the country. Another factor is that the government is promoting exportation.'' shared Ifeoma Okeke from Nigerian Aviation Handling Company Plc.

''The current administration wants to limit importation into the country and promote export because that is how we can earn foreign exchange and make the economy stronger and more buoyant. The government is doing a lot of awareness campaigns through its agencies such as Nigerian Export Promotion Council, (NEPC) to both the middle man and agricultural farmers. These enlightenment campaigns show them the opportunity and what they stand to gain in exportation. Another reason for the increase in exportation is that the tariffs are reduced at the export end compared to the import end in order to make it easy for people to export.''

Click here to continue reading at businessdayonline.com.

Publication date: 8/10/2017


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