Experts under the auspices of Organised Private Sector Exporters Association (OPEXA) has urged the federal government to encourage diversification of the economy and boost production in the non-oil sector by clearing the backlog of N100 billion unutilised Negotiable Duty Credit Certificate (NDCC).
Speaking during a press briefing in Abuja, the executive secretary of OPEXA, Mr Jaiyeola Olarewaju, urged the federal government to process all pending applications against exports made till 2013, saying diversification is the need of the hour to generate employment by boosting production in the non-oil sector.
He said: “Nigeria’s non-oil export sector is still in its infancy and came into mainstream in the last 10 years due to the policies that were put in place that encouraged the sector to invest in agricultural supply chains, export processing factories and overseas marketing. Nigeria’s export basket comprises agro-allied commodities such as cocoa, cashew, cotton, sesame seeds, and rubber, finished leather, tobacco, textiles, processed marine products, footwear and plastics.”