BY DANIEL GUMM

AN initiative that will cut transport costs as well as reduce delays along the Lagos-Lokoji corridor has begun. The programme is designed to promote inclusive economic growth and security through implementing activities as part of an integrated approach to trade and transport competitiveness, according to the Coordinator, Prof. Akin Aluko.

The USAID/Nigeria Expanded Trade and Transport, NEXTT project that is working to bring the initiative into success consists of three key project components which will catalise trade and investment as drivers of inclusive economic growth.

The programme builds upon government of Nigeria and prior USAID efforts to stimulate investment in trade-related infrastructure and services, reform trade policies and procedures, and improve the position of Nigerian firms to access global and regional markets.

Its activities will lead to further and lasting impacts in the form of reduced transport costs, and higher quality of food available in the domestic market and jobs and income generation opportunities for Nigerians linked to firms exporting goods abroad.

They are transport corridor improvement; policy reform and trade facilitation, and expanded export support. The targeted value chains include the following: Cashew nuts, cocoa, sesame seed, shea butter, sorghum, maize, cassava, textile and apparels, sustainable sea food, home decor and fashion accessories, and horticulture.

Prof. Aluko told stakeholders that NEXTT is in Nigeria to involve them in the mapping exercise designed as a diagnostic assessment of the SUPPLY and DEMAND for business development services targeted at export services.

NEXTT is a four-year programme supporting the Nigerian government’s efforts to expand trade volume and efficiency domestically, within the ECOWAS sub-region, and beyond so that trade, particularly in agricultural products, can generate inclusive economic growth and development in Nigeria, and is managed by CARANA Corporation and its consortium partners.

NEXTT addresses trade policy and trade facilitation constraints by aligning the formulation, coordination, and implementation of trade policies, regulatory frameworks, and facilitation services in ways that maximise competitiveness and support expanded trade, investment, and job opportunities.It brings together private and public sector stakeholders, NEXTT supports the improvement of both transportation infrastructure and services and strengthens transport corridor governance along the most important transportation route in Nigeria.