The Nigerian Export Promotion Council (NEPC) says that improved export remains the solution to the free fall of the naira to the dollar.
The Executive Director of NEPC, Ezra Yakusak, said this at a news conference heralding the Council’s second National Conference on Non-Oil Exports.
According to Mr Yakusak, the naira will gain value in the international market with increased exports from Nigeria.
“The only way the naira will stop falling is through increased exports,” said Mr Yakusak. “When you export, you add value and your currency gains weight.”
Mr Yakusak said that increasing the country’s export capacity necessitated the NEPC to organise the conference on non-oil exports.
According to him, the conference, titled: “Building a Sustainable National Economy through Non-Oil Exports”, is scheduled from October 4 to October 5 in Abuja, with stakeholders from the private and public sectors in attendance.
The only way the naira will stop falling is through increased exports. When you export, you add value and your currency gains weight.
He added that the event’s theme reinforces the need to keep the conversation on the revitalisation of the economy on the front burner.
“Expediency dictates that the vagaries and vulnerabilities around oil, which has placed uncertainties on what future it beholds, means that Nigeria must seek other ways of diversifying her economy.
“In this regard, consistent stakeholder engagement, using the conference as a pivot for galvanising policymakers, economic pundits, development partners and, more importantly, the exporting community is key to proffering solutions to some of the challenges affecting the sector.
“This is especially in the area of trade facilitation, access to affordable finance and the issue of infrastructural deficit,’’ Mr Yakusak said. (NAN)
