Trade

By Opeyemi Gbemiro

The Minister of State for Foreign Affairs, Amb. Sola Enikanolaiye, has urged Nigerian businesses to increase their participation in the ECOWAS Trade Liberalisation Scheme (ETLS) to boost regional trade and economic growth.

He made the call on Monday in Lokoja at a sensitisation workshop on ETLS for the North-Central geopolitical zone.

The News Agency of Nigeria (NAN) reports that the workshop was organised by the ECOWAS National Unit of the Ministry of Foreign Affairs in collaboration with the Kogi Government.

The event had the theme: “Harnessing the ECOWAS Trade Liberalisation Scheme to Promote Nigeria’s Intra-Regional Trade and Economic Growth”.

Enikanolaiye described ETLS as a key instrument of regional economic integration.

He said it provides duty-free and quota-free access to approved products originating from ECOWAS member states.

The minister disclosed that Nigeria had registered about 3,500 companies and 20,000 products under the scheme, but said the figures remained below the country’s economic potential.

He identified inadequate awareness and limited understanding of the scheme as major factors preventing Nigerian businesses from maximising its benefits.

He urged businesses to explore opportunities in processing and adding value to agricultural and natural resources for export to regional markets.

According to him, the scheme supports President Bola Tinubu’s economic agenda, particularly non-oil exports, Made-in-Nigeria products and the Nigeria First policy.

He said that the workshop would equip participants with knowledge of product registration, rules of origin, certification procedures and other requirements for accessing the regional market.

Enikanolaiye also stressed that regional trade could strengthen cooperation, peace and security among West African countries.

Represented by his deputy, Mr Joel Salifu, Gov. Ahmed Ododo reaffirmed Kogi’s commitment to regional economic integration, investment promotion and trade expansion.

Ododo said Kogi’s strategic location at the confluence of Rivers Niger and Benue positioned it as a potential hub for industrial and commercial activities.

He added that the state’s agricultural resources, solid minerals and road networks further strengthened its economic prospects.

He said his administration was committed to harnessing the state’s economic advantages through infrastructure development, investment promotion and other initiatives like the proposed Ajaokuta Free Trade Zone and Agro-Processing Zone.

The governor urged businesses to explore opportunities in the ECOWAS regional market.

Ododo assured potential investors of the state’s readiness to partner in ventures that would generate employment and boost local production.

In her remarks, the Secretary to the State Government, Dr Folashade Ayoade, said Kogi was ready to participate actively in international trade and regional economic activities.

She identified the proposed international airport and ongoing Lokoja International Market project as critical infrastructure that would enhance commercial activities and connect businesses to wider markets.

Ayoade appealed to the Federal Government to support the completion of critical infrastructure projects in the state.

She also reaffirmed the government’s commitment to providing a secure environment for businesses and investors.

Edited by Maureen Ojinaka/ Grace Alegba