The Nigerian American Chamber of Commerce has said for the local content policy of the Federal Government to be effective, Nigeria has to stop exporting raw agricultural produce but begin to export processed and value-added products.
The National President and Chairman, Board of Directors of NACC, Chief Olabintan Famutimi, said this recently during the dinner and inauguration of the presidential board of the chamber.
Famutimi, who declared that the role of the chamber was to promote non-oil export, said the focus of Nigeria’s local content policy in the past was in the oil sector and it worked very well for Nigeria.
He said, “I am in the oil and gas industry. People that have come in would not have been able to get to where they are now without the local content policy of the government. The same thing needs to be done in other sectors.
“The local content policy should insist that we stop exporting all our non-oil products raw. We should start processing and adding value before exporting them.”
Commenting on the trade relations between Nigeria and the US, the NACC boss remarked that the relationship was better than what it was during the previous administration.
“During the last administration, the US government did not want to touch Nigeria because Nigeria was regarded as bad news. But since the new government came in, the relationship has improved and it is now very cordial,” he said.
Source: Punch Nig News
No comments:
Post a Comment