Post by Trade Coach on May 21, 2010 10:54:50 GMT 1
1. The country cannot grow economically if it continues to rely solely on revenue from oil trade.
2. It will improve domestic competitiveness of local industries and non oil export sector of the economy, thereby preventing our country from dumping ground of products made from Asia and other advanced economies.
3. It will enable the country to have various streams of income
4. It will encourage individual and organizations to go into business of non oil export thereby increasing our foreign earnings
5. It will in long-term move the country from being an import based to export based. A very good example is how Ghana cocoa research institute has been able to catapult Ghana ’s cocoa to about 700,000 tonnes from about 200,000 tonnes but in Nigeria we have remained at about 200,000 tonnes.
HOW TO GO ABOUT IMPROVING NON-OIL SECTOR
i. Government should expedite action and enforce policies towards resuscitating the failing non-oil export industry.
ii. Government should improve on export incentives and infrastructures.
iii. Government should make information about non-oil export available to peoples through its agencies.
iv. Government should review policies and practices that are not favourable to the exporters.
v. Government should apply a national export strategy which will inculcate the export culture in the country.
vi. Nigerians should be encouraged about how to make use of Free Export Processing Zones located across the nation as it has immense benefits such as tax exemption, power, business advocacy etc.
vii. Individual and organizations on their own should embrace non-oil export businesses and that is why organization like THE THY CONSULTING has been encouraging and teaching people about non-oil export.
Some of her works on non-oil export include the following
(a) Bitter Kola Export
bitterkolaexport.tripod.com
(b) Chorcoal Export
charcoalexport.tripod.com
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