By Ayo Fadimu
The Nigerian-American Chamber of Commerce (NACC) has called on President Muhammed Buhari to ensure the implementation of African Growth and opportunity Act (AGOA) signed by the U.S president Barack Obama to enable manufacturers to access U S market at this time that Nigeria is desperate for exportation.
The president NACC, Chief Olabintan Famutimi at the conference held in Lagos said Nigeria is desperate for exportation and it has arrive at the point of no going back by using AGOA, an economic policy to enable over 40 Sub Saharan African countries tp export 360 listed products aside petroleum products to the U S A markets thereby assisting economic growth.
He said the AGOA policy has being signed in September 2015 by Obama to cover 10 more years as it is expected to end by September 2025, while advising on the need for collaboration and sensitisation with the public to bring the desired result.
Famutimi stated that if products are good for exportation to the U S A market, they will definitely be good for other African countries as multiplier effect, adding that Nigerians have being bewildered in the continuous survival on oil.
He stated that the economy of a country should be built by its sweat and its entire productivity and not to generate income from what does not come from their labour as in the case of oil where Nigerian producers and exporters are not up to 500, 000 of the population.
The Commercial Counsellor, United States Commercial Service Lagos Brain McCleary in a keynote address held that the signing of the African Growth and Opportunity Act (AGOA) is phenomenon and is an available legislation to aid marketers export products to the USA markets.
He also stated that the policy is meant to create millions of direct and indirect jobs, further saying that Nigeria is the lifeline of Africa and shall continue to be through increased opportunities for investment by exportation of duty free products among others.
Participants ranging from Manufacturers Association of Nigeria(MAN), Bank of Industry (BOI), Association of Nigerian Exporter, Nigerian Export Promotion Council (NEPC) Nigerian Custom Service, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) among other stakeholder in a panel identified what is export readiness after lack of capacity and technical competence where listed as challenges among other informing segments at the conference.