Mkpoikana Udoma
Yenagoa — The Nigerian Content Development and Monitoring Board, NCDMB, has reaffirmed its dedication to strengthening Nigeria’s position in international markets through strategic initiatives that focus on regional trade, infrastructure development, and financial support.
Mr. Abdulmalik Halilu, Director of Monitoring & Evaluation at NCDMB, made the affirmation during a panel discussion on Nigerian Content Beyond Borders, on the second day of the 13th Practical Nigerian Content Forum, PNC 2024, in Yenagoa, Bayelsa State.
Speaking on what incentives exist to further encourage the export of local capacity and enhance Nigeria’s presence in international markets, Halilu outlined key steps aimed at boosting Nigerian businesses’ competitiveness both within Africa and globally.
He highlighted the ECOWAS Trade Liberalization Scheme as a vital platform for increasing Nigerian exports, explaining that the scheme enables businesses to trade within West Africa at significantly reduced tariffs, provided they demonstrate substantial transformation and value addition to their products.
He also emphasized the benefits of the African Continental Free Trade Area, AfCFTA, which provides Nigerian companies with expanded access to African markets by offering preferential tariffs.
Halilu pointed to Nigeria’s growing global presence, noting that Nigerian products, such as cables and energy equipment, are already being exported for international energy projects.
“AfCFTA offers a tremendous opportunity for Nigerian businesses to expand their reach across the continent and increase their competitiveness,” he added.
“We are seeing Nigerian-made products, like cables, being used in energy projects beyond our borders. This signals that Nigerian companies are making their mark on the global stage,” he said.
In addition to trade initiatives, Halilu underscored the critical role of financial support in fostering cross-border trade, and highlighted the partnership between NCDMB and the Nigerian Export-Import Bank (NEXIM), which is working to provide Nigerian companies with access to affordable capital for international expansion.
“Access to cheap capital is essential for businesses looking to scale and compete on a global level, and NEXIM Bank is instrumental in making this possible,” he explained.
Halilu also discussed the importance of infrastructure development, particularly the establishment of Export Processing Zones and oil and gas parks to support businesses in producing competitive, high-quality products for export.
“NCDMB is investing in infrastructure projects like NOGaPs parks, which will provide embedded power and tax incentives to reduce operational costs for businesses. Two new parks are set to be commissioned next year.”
The NCDMB Director also highlighted the board’s role in business promotion, ensuring that Nigerian service companies gain visibility and access to international markets.
“We are actively promoting Nigerian businesses by facilitating their participation in international trade events, which helps them form partnerships and gain credibility globally,” he said.
Halilu concluded by emphasizing that these efforts align with NCDMB’s broader mission to support Nigeria’s local content and foster long-term economic growth through regional and global business expansion. “NCDMB’s goal is to ensure that Nigerian businesses not only thrive locally but also compete effectively on the global stage,” he said.
