FG Set To Review Nigeria’s Trade Policy
President Muhammadu Buhari

The Federal Government has said it is reviewing the country’s Trade Policy to ensure a conducive and improved business environment for Micro, Small and Medium Enterprises (MSMEs), Concise News reports.

The Chairman, National Trade Facilitation Committee, Abubakar Aliyu disclosed this on Tuesday in Abuja, at a forum on trade policy and enabling environment eco-system for Nigeria Competitiveness Project’s (NICOP’s) value chains.

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Aliyu, represented by Abdullahi Usman, a senior official at Federal Ministry of Industry, Trade and Investment, said the new trade policy would guarantee incentives for farmers as well as remove several restrictions hindering the production of goods for the international market.

“Nigeria’s Trade Policy is presently undergoing a review and we are working hard to ensure that all relevant stakeholders are on board to make sure government comes up with something that is conducive and as well improves the business climate in the country.

“Government has mapped out two policies to achieve this:

“First is the agriculture transformation agenda and the other is agriculture promotion policy aimed at transforming agriculture from developing oriented and agro-business focus industry based on integrated value chains.

“To this end, several programmes are in place to ensure incentives are available to farmers to increases domestic production of certain commodities such as cassava, rice and wheat.”

According to him, efforts are on to remove several restrictions hindering the smooth implementation of some of the policies aimed at industrialising the nation.

He noted that policy such as the ‘Zero Rejects Initiative’ was put in place to transform the face of exports from the country.

“Most of these restrictions are not just done, you have to consult and use trade language in order not to violate our commitment in the international community.

“There are challenges which are administrative but we are still talking to the government to allow that policy to scale through because it is that policy that gave birth to Zero Reject Initiative introduced by the Ministry of Agriculture.

“This was to close up the gap between farmers and businessmen especially as it concerns the residue level of pesticides needed for the preservation of products before taking them to the international market.

“So, these are some of the challenges but most agencies have built on what they learnt and are trying to improve the quality of their products generally,” Aliyu added.