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Nigeria targets $50m export to U.S from AGOA

Adeniyi-Adebayo

Minister of Industry, Trade and Investments, Adeniyi Adebayo (CON)

By Ikenna Uwadileke

Nigerian government has inaugurated a technical committee on the utilisation of the African Growth and Opportunity Act (AGOA) with a target export volume of 50 million dollars to the United States.

Otunba Adeniyi Adebayo, Nigeria’s Minister of Industry, Trade and Investment said this in a statement on Friday.

The statement issued on Friday in Abuja by the Director of Press in the ministry, Mr Adebayo Thomass quoted the minister as saying “the committee is mandated to streamline a work plan on AGOA utilisation with a target export volume of 50 million dollars to the United States.

“Further, the committee will provide strategic direction on AGOA implementation, monitoring, and evaluation in the country,’’ Adebayo said.

According to the minister, maximising the benefits of AGOA has become critical for the country, especially given the abundance of natural resources.

“As one of Africa’s largest economies, Nigeria must capitalise on global economic integration by gaining duty-free and quota-free access to U.S. markets,’’ he said.

Adebayo urged members of the committee to take the task seriously and work toward its successful completion.

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Earlier, Dr Evelyn Ngige, the Permanent Secretary of the ministry, acknowledged the efforts of various stakeholders in the implementation of AGOA in Nigeria.

Ngige said that establishing the committee was part of the ministry’s commitment to ensuring that Nigeria takes advantage of AGOA, which expires in 2025.

She also expressed the ministry’s determination to address the challenges that Nigerian manufacturers and exporters face in meeting labelling, packaging, and product-specific standards.

Responding, the Co-chairman of the Committee, Dr Ezra Yakusak, the Executive Director/Chief Executive Officer (CEO), of the Nigerian Export Promotion Council (NEPC), commended the ministry for being proactive.

Yakusak promised that the AGOA committee would meet its objectives.

When AGOA expires in 2025, he claims it will have had bipartisan support for more than a quarter-century. He stated that it would have also strengthened the US-Sub-Saharan African commercial partnership.

NAN

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