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Home Economy

NAFDAC Strengthens Regulatory Framework to Boost Nigeria’s Non-Oil Exports Amid Rising Rejection Rates

Business 360 by Business 360
August 21, 2024
in Economy
0

In a bid to address the growing challenge of rejected Nigerian food exports, the National Agency for Food and Drug Administration and Control (NAFDAC) has launched a strategic partnership with key stakeholders in the export sector. The initiative, announced during a press briefing in Abuja by NAFDAC’s Resident Media Consultant, Mr. Olusayo Akintola, reflects a renewed focus on enhancing the quality and compliance of Nigeria’s non-oil exports.

NAFDAC Director-General, Prof. Mojisola Adeyeye, emphasized the importance of this collaboration during discussions with cocoa industry stakeholders concerning draft regulations available for public review on the agency’s website. The engagement highlighted the need for a unified approach to trade facilitation, with an emphasis on setting and maintaining high standards across the export value chain.

Prof. Adeyeye underscored the critical role of regulations as legal tools to ensure compliance and protect the integrity of Nigeria’s exports in global markets. Under her leadership, NAFDAC has updated and gazetted 21 new regulations, covering a wide range of regulatory functions, including manufacturing, importation, and exportation. This comprehensive regulatory overhaul aims to address the persistent issue of export rejections and position Nigeria’s non-oil exports as competitive and reliable in international trade.

Economy watchers describe the agency’s efforts to engage directly with stakeholders, particularly in the cocoa industry as one which demonstrates a commitment to fostering an environment of cooperation and shared responsibility. This initiative they say is a crucial step toward revitalizing Nigeria’s non-oil export sector and ensuring that the country’s products meet international standards, thereby reducing the rate of rejections and boosting economic growth.

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