Business Opportunities in Nigeria and Across the World

Mr. Babatunde Faleke is the Regional Coordinator, Nigerian Export Promotion Council (NEPC) Lagos. In this interview with ABIBAT AMINU he speaks on opportunities open to Nigerian exporters, especially under the African Growth and Opportunity Act (AGOA). Excerpts: IS THE AFRICAN GROWTH AND OPPORTUNITY ACT (AGOA) STILL RELEVANT TODAY? Yes of course the African Growth and Opportunity Act (AGOA) is United States Trade Act is still as relevant today as when it was first mooted. AGOA significantly enhances the U.S market access for 39 sub-Saharan African countries. The Act originally covered the eight year period from October 2000 to September 2008. But amendments signed to into law by former U.S President George Bush in July 2004 extended AGOA to 2015 and former President Barrack Obama further extended it beyond 2015. WHAT MAKES A COUNTRY ELIGIBLE UNDER AGOA? The Act authorised the U.S President to designate countries as eligible to receive the benefits of AGOA if they are d

  The Federal Government has begun the implementation strategy to ensure that non-oil products are duly accepted in the US under the African Growth and Opportunity Act. The products that are being considered for export under AGOA include sesame seed, cashew, tomatoes, oranges, cassava, spices and ginger. Others are shea butter, cow pea, banana, plantain, cement, clinker, leather and articles of leather, arts and handicrafts, specialty foods and cocoa. Alhaji Aliyu Abubakar, the Deputy Director, Trade Department, Ministry of Industry, Trade and Investment, made this known at a stakeholders’ meeting in Abuja on Friday. Abubakar said that the Minister, Okechukwu Enelamah, had given a directive to have the document as a fallout from the AGOA forum that took place in the US in July. On May 18, 2000, the US Congress passed AGOA into law. AGOA is a trade programme meant to establish stronger commercial ties between the US and sub-Saharan Africa. The act establishes a pref