Lagos State to Reduce Nigeria’s Dependency on Crude Oil

 Lagos state government, the controller of two major sea ports in Nigeria, has revealed plans to reduce Nigeria’s dependency on crude oil by promoting the exportation of locally made commodities.

This revelation was made public by Dr. Lola Akande, commissioner for commerce, industry and cooperatives, Lagos State.

She said “ Lagos, is the host of two major sea ports in Nigeria, the Tin Can Island and the Apapa Port Terminals, these two ports has a great role to play in promoting the export of Nigerian made products”.

Dr. Lola revealed that she was very certain of the positive role Lagos would play in reducing the country’s dependency on crude oil revenue, adding that leveraging on the country’s two major seaports would address the imbalance in the nation’s foreign trade.

Also, speaking on the matter, Dr. Abayomi Omotoso, President/Council Chairman of the Chartered Institute of Export and Commodity Brokers of Nigeria, noted that the export institute needs the support of the government to access the opportunities in commodity brokerage and export.

Dr. Abayomi emphasized that export is now the focus of most countries. Lagos with its huge economic activities possesses what it takes to be a great player in the country’s export business.

He, however, stressed the need to concentrate on producing high-quality organic products for easy compliance with the rules and procedures of destination countries.

Apapa Port Complex also known as the Lagos Port Complex is Nigeria’s largest and busiest port complex. It became the nation’s busiest port for exporting agricultural produce from the provinces of Western and Northern Nigeria in the late 1920s, Investors King understands.

Tin Can Island Port (TCIP) is located in Apapa, Lagos State. Tin Can Island Port became the second most utilised port following its merger with Roro Port in 2006. Lagos State, under the leadership of Governor Babajide Sanwo-Olu, is looking to leverage on these two seaports to bolster and deepen exports of non-oil products in Lagos State and across the country.