AMJON 2023: Stakeholders task FG on critical measures to sustain viable transborder trade for national economic growth
ZAINAB JUNAID
Stakeholders have kicked against the woes of Nigeria's mono
cultural economy and called for urgent
Panacea by the Federal Government to steer the country away from its critical state.
Speaking at the 5th edition of Association of
Maritime Journalists of Nigeria(AMJON) Annual Conference and Awards held at
Rockview Hotel, Lagos, on Thursday, December 14, 2023, they maintained that the
huge infrastructural deficit causing set back should be urgently addressed.
President of the Association, Paul Ogbuokiri expressed
concern over the poor state of the Country’s mono-cultural economy which needs
urgent attention of the Federal Government to steer the country away from its
crisis state.
In his welcome address, he emphasized that Nigeria’s Balance
of Trade year in year out has always been unfavorable, saying "our crude oil has become encumbered as a large portion goes into payment of debts and we are left with little or no foreign exchange to finance our imports."
“When economists listed the dangers of a mono economy, it
sounded like a song meant mainly for entertainment; even with the occasional
fall of the price of crude oil in the international market which usually shocks
our economy whenever it happens. But we normally forget once the price goes up
again and things normalize. As such, beyond sloganeering, we have never seemed
to bother ourselves with the fact that our Balance of Trade year in year out
has been unfavorable to us.
“Now the shock has become permanent because our crude oil
has become encumbered, a large portion of it now goes into payment of debts
acquired and squandered by politicians, while the other portion is being stolen
by powerful people; we are therefore left with little or no foreign exchange to
finance our necessary and unnecessary imports.
Amjon President added that though President Bola Ahmed
Tinubu GCFR hit the ground running with different strategies and appointments in
order to rectify the woes of the economy since he assumed office, there is still
need to re-strategize more on full local production for our consumption as done in
the 70s and 80s.
“As we strongly believe that trade in non-oil exports holds
the key to Nigeria’s economic survival, particularly with regard to
intra-African trade. With platforms like Economic Community of West Africa
States-ECOWAS Trade Liberalization Scheme (ETLS), African Continental Free
Trade Area (AfCFTA) and the recent deal between the Customs Administrations of
Nigeria and Benin Republic. We believe that discussions should center on
trans-border trade between our country and its neighbours with the view to
identifying any encumbrance that could hamper trade now or in the future. When
we focus more on our local produce for consumption, we can sell the excess to
other countries for our forex needs,” he said.
Also speaking on 'The Role of Customs Brokers in Sustaining a Viable Trans Border Trade for
National Economic Growth', Barrister Ikechukwu Ukadike, a Maritime Lawyer ably representing Mr Iju Anthony, a Maritime Consultant and Pioneer
Chairman, Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), suggested
that the Federal Government should consider giving a percentage of the Customs
Revenue to customs brokers inorder to enhance their productivity.
Nwabunike emphasized that the method will bring a win-win
situation for government and the brokers as more revenue would be collected.
“It will also reduce the stress of deploying risk management
tools like post clearance audits, alerts and Demand Notices (DN) to prevent
revenue loss," he said.
He made the suggestion against the
backdrop of the comment made by the Comptroller General of Nigeria Customs
Service, Bashir Adewale Adeniyi on proposed six trillion revenue target for
2024.
"For 2024, the Comptroller General of Nigeria Customs
Service recently said the service aims to collect six trillion naira for government.
"Out of this projected
collection, 4trillion naira will likely be made through customs
brokers".
"Giving them a percentage will solidify their stake and would enhance their productivity as their benefits would be dependent on what they made for the government" he concluded.
However, the event was also graced with award presentation ceremony
to most outstanding stakeholders in the industry, among whom are -HRH Eze, Dr.
Oliver Chinedu Ohanweh, who was presented with the 2023 Excellent Leadership
Award; Comrade Akinola Oladele Bodunde; Jibril Dardau, GM NIWA Corporate
Affairs; Oluwadamilola Emmanuel, General Manager, Lagos Waterways Authority
(LASWA); Ubong Essien, Dean, School of Eloquence; Barrister Olabisi Adetola;
