As a way of relieving external funding and ensure easy transactions in trade involving Nigeria and China, Nigerian maritime stakeholders have been enjoined to explore opportunities inherent in the Nigeria-China currency swap deal.
Chairman Customs Consultative Council, Aare Hakeem Olanrewaju, who was the Chairman of a Breakfast meeting held by Maritime reporters association of Nigeria ( MARAN), expressed optimism that the currency swap agreement between Nigeria and China will no doubt address the challenges of inflation and other issues affecting Trade facilitation in the country.
According to him: “A research of over ten years conducted shows that prices of goods go up in Nigeria compared to other countries of the world. I believe the decision of MARAN to organise this breakfast meeting and bring stakeholders together will give us an insight into the benefits and challenges of the currency swap between Nigeria and China’.
Statistics show that China is a strategic tool for Trade efficiency and external sector diversification. It has the potentials to offer Nigeria’s maritime industry new trade opportunities with the country’s trading partner, China .
Former Acting President, Association of Nigerian Licensed Customs Agents ( ANLCA), Dr. Farinto Collins, commended the Tinubu administration for the courageous decisions taken to move the country forward.
He however. charged the Federal Government to tackle challenges of infrastructure which has been an impediment to trade facilitation so as to efficiently implement the currency swap deal .
Farinto also called for the construction of a functional rail system to make the Lekki Deep sea port viable and as well as the disbursement of the Cabotage Vessel Financing Fund (CVFF) to enable Nigerian shipowners benefit from the currency swap deal.
He urged the Federal Government to provide the financial support to Maritime Reporters Association of Nigeria (MARAN) to enable the first maritime media association lead in the enlightenment campaigns and awareness creation of the currency swap deal between the two countries.