• Tuesday, June 18, 2024
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Trade for growth to take centre stage at national policy dialogue

Nigeria’s trade surplus hits 5-yr high on weaker naira

FemiBoyede Consulting Limited, a Canada-based non-profit, is set to organise a national policy dialogue to create awareness for the government to understand the role international trade can play in the speedy attainment of the nation’s economic rebuild.

Concerned that the government has yet to roll out strategies to mainstream Nigeria’s non-oil export sector into the emerging economic rebuild agenda, the consultancy firm has scheduled the dialogue.

The dialogue, according to the statement, seeks to proffer solutions to identified challenges limiting Nigeria’s performance in the international trade arena, as the country grapples with challenges stemming from overreliance on imports, a negative trade balance, and currency devaluation.

“With the aim of proactively reversing this trend, this initiative aligns with the strategic vision of President Bola Ahmed Tinubu’s administration to rejuvenate the economy under the banner of Renewed Hope,” the organisation said in a statement made available to BusinessDay.

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Nigeria’s new government, under the leadership of Bola Tinubu, has, since its inauguration on May 29, 2023, demonstrated serious concern about the state of the nation’s economy, and committed to ensuring its speedy turnaround, the statement said.

“This dialogue sets forth a concrete plan of action that entails a concerned stakeholders meeting, a resonating communique, and a powerful media campaign to garner the attention of both the government and the relevant public.”

The event is resolved to bring together CEOs of the country’s Trade Support Institutions (Nigerian Export Promotion Council, Nigeria Customs Service, Central Bank of Nigeria, Debt Management Office), selected commercial banks, leading commodity associations, and non-oil exporting bodies.

“It is the hope of the organisers that the solutions developed at the dialogue will help the administration to chart a new course for the enhancement of Nigeria’s export competitiveness as well as forge a positive collaboration between the exporters and Government and pave the way for a stronger non-oil export sector that can spearhead Nigeria’s economic resurgence,” the statement said.

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The keynote address will be delivered by Aisha Abubakar, former minister of state for industry, trade and investment.

Other dignitaries expected include the secretary to the government of the federation, the minister of finance and coordinating minister of the economy, the minister of industry trade and investment, among others.

The event has BusinessDay, Premium Times, and Dataphyte as media partners.