FG Plans Regional Transport System

The Federal Government has concluded plans to establish a regional maritime transport system to boost trade distribution of made in Nigeria goods in the ECOWAS sub-region.

Minister of State for Trade and Investment, Dr. Samuel Ortom, disclosed this at the regional workshop on Export Competitiveness Strategies in Abuja recently.

According to him, the project would cost millions of dollars but it would be sponsored by the Nigerian Export-Import Bank (NEXIM) and is expected to encourage deeper trade relations within the ECOWAS zone.

He said that trade within the sub-region had depreciated and needed to be encouraged.

Ortom explained that the regional maritime transport project would be done through the sea-link initiative with further support from African Development Bank.

The minister told participants at the workshop to come up with a template idea that should be adaptable in their respective countries.

Indeed, he said time had come for African countries to tackle the unfavourable production pattern that saw the “continent producing what she does not consume and consuming what she does not produce.”

The minister explained that the non-oil exports should play a critical role in the economic transformation, development and growth of African countries.

He said that striving to be competitive in the international market place was a basic foundation for economic growth.

“The main thrust of the current government in Nigeria is premised on an economic transformation agenda that included a very aggressive and effective export drive.