Business

May 28, 2024

FG charges manufacturers to boost export with ETLS

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The Federal Government has called on Nigerian businesses and manufacturers to use the ECOWAS Trade Liberalisation Scheme (ETLS) treaty to boost the country’s export basket.

Minister of External Affairs, Maitama Tuggar, said this at a one-day Sensitisation Workshop on the ECOWAS Trade Liberalisation Scheme (ETLS) in Awka, Anambra State, with the theme, “Exploring the benefit of ECOWAS trade liberalisation scheme in the region”. Tuggar, represented by Amb. Obinna Onuwu, the Director of International Organisations in the ministry, said ETLS would give local manufacturers access to a market of over 400 million consumers across the 15 ECOWAS member states.

The ETLS initiative of ECOWAS aimed to enhance cooperation and integration in trade, ensuring economic stability by creating an economic union within the region for the well-being of the community’s citizens. 

According to Tuggar, it will also expand their customer base, boost revenues, and significantly contribute to the nation’s overall economic growth and prosperity.

“Presently, Nigeria has 946 enterprises with over 10,000 products and the primary goal is to establish a customs union among all member states, with the ultimate objective of completely eliminating Customs duties and implementing a unified customs policy. 

“It represents an ideal opportunity to foster greater economic integration and unlock the immense potential of intra-regional trade.”