Community

Notifications
Clear all

How does Nigeria address market access barriers for its export products?

2 Posts
2 Users
0 Reactions
34 Views
(@helen-olamide)
Posts: 2050
Illustrious Member Customer
Topic starter
 
[#2858]

How does Nigeria address market access barriers for its export products?


 
Posted : 29/04/2024 9:18 am
(@edwardadex233)
Posts: 1000
Noble Member
 

Here are some of the ways Nigeria addresses market access barriers for its export products :

 

Tariffs and Quotas: Nigeria uses a combination of tariffs and quotas to generate revenue and protect local industries from competitive imports.

 

Export Processing Zones: The Nigerian Export Processing Zone Authority (NEPZA) aims to boost non-oil exports to earn foreign exchange and meet international obligatory payments.

 

Local Content Laws: Local content laws are in place across sectors of the Nigerian economy. The Nigerian Oil and Gas Industry Content Development Act of 2010 gives preference to Nigerian goods and services for all projects in the critical oil and gas sector.

 

Intellectual Property: Nigeria has laws to enforce intellectual property rights violations. In May 2021, Nigeria enacted the Plant Variety Protection Act, which was designed to incentivize the development of new plant varieties and contribute to sustainable progress in agriculture, horticulture, and forestry.

 

Certification The Nigerian Export Promotion Council (NEPC) paid to help about 120 exporters get certified with HACCP and ISO in 2021. More funding is required in this space if Nigeria must overcome the challenges of accessing markets.

 

 


 
Posted : 29/04/2024 10:13 am
Share:
Scroll to Top