The Export Promotion Council (NEPC) says that Nigeria compared with South Africa and Ghana is yet to get optimal benefits from the African Growth and Opportunity Act (AGOA).
AGOA is legislation, enacted in 2000 for a period of 15 years but extended by 10 years, that provides duty free and quota free access to over 6,400 products from sub-Sahara Africa to the US market.
Dr Ezra Yakusak, the Chief Executive Director Officer (CEO) of NEPC, stated this on Thursday during a capacity building workshop on AGOA in Akure.
Yakusak, represented by Mr Fred Macpherson-Iloegben, Head of NEPC in the state, noted that due to lack of understanding of the scheme ; “It is sad that in 20 years of enactment of AGOA, made-in-Nigeria products are yet to be visibly seen in major malls in the US apart from African store’’.
He attributed the failure to low awareness of the AGOA, lack of knowledge on the quality and standard regulatory requirements under AGOA and lack of documentation and procedures for export.
According to him, the NEPC is embarking on the workshop so that Nigerian business men and women can take the advantage with less than four years to end.
“There is a serious need for the council to create more awareness about the existence of the act to enable Nigerian exporters leverage on the opportunity presented by the AGOA in making an-in-road into the American market. This is because there is a huge potential in the US market,’ ’he said.
The CEO urged participants to actively take the advantage to increase in export of made-in-Nigeria products to the US market with a view to increase forex inflow into Nigeria.
In his remarks, Mr Fred Macpherson-Iloegben,the Head/ NEPC Advisor in Ondo State, said that exporters and potential ones would be well equipped with better understanding of trade in the US market.
Macpherson-Iloegben, represented by Mr Adeyinka Obaniyi, the Senior Trade Promotion Officer in Akure, noted that the programme would increase market share for Nigerian non oil products.
“Increase in the market share for our non-oil products in the US market will no doubt significantly develop the non-oil export value chain in Ondo State specifically and in Nigeria generally.
“I will, therefore, implore you to take advantage of this programme in order to effectively leverage on the AGOA platform to expand Nigeria export both in volume and value in the US market,” he urged.
The workshop is tagged: “Leveraging on AGOA to Boost Nigeria Export to the US Market.”
