Sunday, October 17, 2021

Fidelity Bank Seeks Private Sector Participation In Non-oil Export

For developing countries such as Nigeria to accelerate economic growth, there needs to be greater private sector participation in  export sector.

The divisional head, Export and Agriculture, Fidelity Bank, Isaiah Ndukwe, stated this at the just-concluded 11th edition of the Fidelity Bank Export Management Programme held in Lagos.

The programme covered a wide range of topics including export documentation and application of export development processes and was facilitated by leading faculty from Lagos Business School, staff of the Nigerian Export Promotion Council (NEPC) and experts in financial management and exports.

The managing director, Fidelity Bank, Mrs. Nneka Onyeali-Ikpe explained that, “Year-in, year-out, Fidelity Bank has demonstrated its resolve to help diversify the Nigerian economy and increase export earnings. One of the ways we are doing this is through the Export Management Programme which provides participants with the knowledge needed to navigate both the international non-oil export market and the larger export market.”

The importance of exports, she said, has continually been emphasised by various bodies as it provides a means of increasing the markets for producers and especially in Nigeria’s case, an opportunity to attract much needed foreign exchange earnings.

Meanwhile, the president of the African Development Bank (AfDB), Akinwunmi Adesina, speaking recently at the Mid-term Ministerial Performance Review Meeting on the topic: ‘Nigeria’s Economic Resurgence: The African Experience’ expressed worry over disincentives to non-oil exports in the Nigerian economyw. He urged Nigerian fiscal authorities to remove bottlenecks in non-oil exports in order to promote economic resurgence.

One of the participants of the EMP 11, chief executive officer of Dot Global Resources Nigeria Limited, Mr Kelechi Chukwukezirim  thanked  Fidelity Bank and Lagos Business School for the insightful and highly educative programme.

“I came here with just an awareness of export management. However, my experience in the past five days has taken me from point zero to over 40 per cent of quality knowledge on export management,” he said.

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