A financial management expert and lecturer of Banking and Finance at the University of Abuja, Dr Adelodun Sadraq, has said exporting companies now prefer to go through Ghana than Nigeria.
He said the economic downturn is having a serious effect on the country, asking government to do its best to reverse the trend.
He further advised the country to encourage local production to shore up the value of the naira against other foreign currencies.
Sadraq who owns farms in Abuja, Kogi and Kwara charged Nigerian exporters to shun dubious activities.
He spoke with newsmen on Wednesday in Ilorin, Kwara State.
“I am into large scale farming and sometimes because of trust issues, foreign countries reject our local produce.
“But Ghanaian exporters and other African countries come to buy the same agricultural produce from Nigerian farmers and producers and exports to developed countries from Ghana due to lack of trust. It is troubling”, he noted.
According to him, there is a need for urgent steps to encourage local exportation of agricultural produce, arts, crafts and music.
“When you see some youths in arts and crafts in Abuja and many parts of the country, you’ll marvel. Government should encourage them to shore up the naira against dollars,” he said.
He urged the government to encourage local manufacturers with tax incentives that would keep them in business to expand employment opportunities and social infrastructures.
While noting the efforts of governments on security, he reiterated the need to step up efforts to encourage agricultural productivity and food sufficiency.
“Once you can cater for your family in terms of food supply, you’re okay. The Nigerian masses don’t need much and are not asking for either but just the basic things of life. They don’t want to buy private jets”, he submitted.
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