PARIS OLYMPIC GAMES
In a bold move to boost Nigeria’s export sector, the Nigerian Ports Authority (NPA) is deepening its partnership with the Nigeria Liquefied Natural Gas (NLNG) company.
The collaboration aims to increase exports and support the federal government’s export-oriented policies.
The Managing Director/CEO of NPA, Dr. Abubakar Dantsoho, disclosed this when he received the CEO of NLNG, Dr. Philip Mshelbila, at the NPA headquarters at Marina, Lagos on Monday.
According to him, the two chief executives discussed ways to enhance operational synergy and expand NLNG’s production capacity.
Dantsoho said: “Imbued by the mandate of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, for the NPA to support the increased export orientation of the Federal Government, we assure you of our unwavering support.
“Nigeria LNG (NLNG) has played a key role in Nigeria’s economic development and export growth since inception. We will grow this partnership.”
Persecondnews reports that Nigeria has been experiencing a significant rise in export earnings, with a trade surplus of N5.81 trillion in the third quarter of 2024.
The surplus is attributed to the growth in exports, predominantly facilitated through the Nigerian Ports Authority platforms.
The country’s merchandise trade for Q3 2024 was valued at N35.16 trillion, marking an 81.35% increase compared to the same period in 2023.
The significant boost in exports was driven primarily by crude oil and natural gas exports, with crude oil exports alone amounting to N13.41 trillion.
Agricultural exports also saw an extraordinary increase of 301.87%, reaching N884.07 billion. Other notable export growth areas include solid minerals and manufactured goods, which rose by 86.58% and 419.93%, respectively.
As Nigeria continues to strengthen its export sector, the partnership between NPA and NLNG is expected to play a crucial role in driving economic growth and development.
With the country’s exports on the rise, Nigeria is poised to solidify its position as a key player in the global market.
Leave a comment