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Economy

Boost export capacity to drive economy, Expert urges FG

A maritime expert, Mr John Egesi, on Friday urged the Federal Government to develop Nigeria`s export capacity with a view to effectively drive the economy.

Egesi, a former Director-General of the defunct National Maritime Authority (NMA), gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the challenges facing the country`s economy owing to the falling crude price was a compelling reason for government to harness the country`s export potentials to earn foreign exchange.

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“These are hard times and we have found ourselves in this situation because we have over the years depended on oil revenue to run the economy.

“Now that the price of oil is on a free fall, there is the need for government to develop the country`s export capacities to earn foreign exchange.

“This way, the economy would be diversified and there will be more money to run the economy “he said.

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Egesi said that a sure way to boost exports was for government to create enabling environment for local companies to produce quality, exportable products.

He warned against arbitrary restriction of imports, saying the policy would not challenge local manufacturing companies to make exportable products.

The expert said that the maritime industry was a money-spinner in most climes and urged government to develop the potential of the sector for optimal revenue generation.

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