Commonwealth, NEPC professional service export alliance for wealth creation

ITRealms

The Executive Director, Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, has said that the 2009 Commonwealth Secretariat collaboration with the organization to export professional services was meant to create wealth, generate employment and reduce poverty, ITRealms reports.

“The overreaching goal of the strategy was to contribute to the country’s long- term objective to create wealth, generate employment and reduce poverty as enshrined in Nigeria’s National Economic Empowerment Development Strategy.’’ he said.

He said that Nigeria has substantial potential in non-oil export, especially in the services sub-sector, adding that the service sector was the second largest contributor to the country’s Gross Domestic Product (GDP). “Nigeria has huge potential in export of services, such as in the creative industry (Nollywood and music), financial services, and Information Communication Technology (ICT) among others,” he said

Awolowo was speaking in Abuja, Tuesday, during an interactive meeting on the review of the implementation of the National Strategy for the export of professional services in Nigeria ITRealms reports.

According to The Nation’s report, the NEPC boss, said Nigeria is a leading exporter of banking services in West Africa with a strong financial services sector. He said, for instance, that 11 Nigerian banks have established subsidiaries in over 20 sub-Saharan countries; nine out of 11 also have branches in four continents outside of Africa.

He said one of the major challenges for companies in the services sector was access to information about opportunities in and requirements of foreign markets. He said to overcome the challenges, the council would collaborate with the International Trade Centre (ITC) under the Trade in Services Programme (TSP), ITRealms gathered.

Cyriacus Nnaji/GEE

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