Segun Awolowo, CEO; Nigerian Export Promotions Council
The Nigeria Export Promotion Council (NEPC) has announced that its working closely with the African Export-Import Bank (AFREXIM) to launch a $1 billion Nigeria-African Trade and Investment Promotion Programme (NAPTIP), which is to promote trade in goods, and services while providing risk mitigation instruments that support trade between Nigeria and other African countries.
The initiative, according to Kanayo Awani, who is the managing director, Intra-African Trade Initiative at Afreximbank is proposed to support finance of transactions including those that will be concluded at the intra-Africa Trade Fair (IATF) holding in Egypt in December this year,
While speaking in Abuja Kanayo Awani, said Africa could do much more in terms of trade but needed to address huge infrastructure challenges, which had been a major impediment to Intra-African trade. Lack of access to trade and market information was another huge challenge according to her.
in her speech, she said the intra- African trade situation was better illustrated by the bank’s recent survey, which revealed for instance, that Mauritius and Nigeria import leather from Italy and Belgium at much higher cost when compared with South Africa and Botswana who were also cheaper product exporters.