The Manufacturer Association of Nigeria Export Group (MANEG) has urged the federal government to address activities hindering exporters’ competitiveness in the global market.
Chairman, MANEG, Chief Ede Dafinone, gave the charge yesterday, in Lagos, at the MANEG fourth Annual General Meeting with the theme: “The implication of Impository and Retaliatory Tariffs and Nontariff Barriers on Trade.”
Dafinone noted that the theme was pertinent at this time considering the recent imposition of full import duties on transit goods by the government of the Republic of Benin.
He stated that since the advent of the coronavirus pandemic, exporters had been struggling with reduced international demands coupled with domestic economic challenges.
Dafinone lamented the increasing exchange rates, high cost of energy, dwindling international demands, multiple levies and taxes hindering exporters activities at the global market.
The MANEG chairman said that port congestion, unending Apapa gridlock, infrastructural deficiencies and smuggling still caused untold constraints on manufacturing operations.
“According to the National Bureau of Statistics, the value of manufactured goods exports fell by 3.1 per cent in Q4 2020, compared to the value recorded in Q3 2020 and 74.7 per cent compared to Q4 2019 and in 2020.
“The value of manufactured exports was 53.7 per cent lower than the value recorded in 2019.
“Besides the pandemic, domestic policies of the government on non-oil export incentives and exchange rate policy affected the prosperity of the manufactured products export sector,” he said. (NAN)