Federal Government has received commendation for its efforts in supporting and advancing the non-work export industry through tax exemptions and grants for expansion.
The Group Managing Director, Gum Arabic Company Nigeria , GACON, Ltd Mrs Adaku Chidume-Okoro made the remark at the commemoration of the company’s 25th anniversary in Lagos.
Mrs Adaku said the government, over the years, had deliberately provided certain incentives such as tax exemptions and expansion grants to non-oil exporters, emphasizing that this singular incentive is highly encouraging.
She appealed to the government to ensure that the support is scaled up in the coming years.
Mrs. Chidime-Okoro, who highlighted the economic and health benefits of certain farm produce such as gum Arabic, popular hibiscus flowers known as Zobo, and ginger, stated that the government is aware of the potential role the non-oil export industry could play in sustaining the economy, thus necessitating the incentives and tax waivers.
According to her, apart from tax exemptions on export produce, there is also a government expansion grant whereby the government pays them a certain percentage of their annual turnover as incentives to encourage entrepreneurs to invest more in the sector, improving the balance of trade.
She pointed out that the main challenge confronting non-oil exporters had to do with bad roads which usually results in delay in supply of goods at appropriate places for shipments.
Chidume-Okoro emphasised the need for continued government support to enhance the growth and resilience of the non-oil sector and advised intending exporters to remain focused, consistent and unshaken in the face of challenges if they must record remarkable success as non-oil exporters.
The Group Managing Director said that GACON specializes in the export of various agricultural commodities, herbs, and botanicals, including fresh ginger and dried split ginger, dried split turmeric, dried hibiscus flower, gum arabic of all grades, hot chili pepper, cassia tora seeds, dried kola nuts, and prosopis juliflora.
Radio Nigeria reported that in 2010, Chidume-Okoro was honored with a presidential award as the “Woman Exporter of the Year 2010” in the non-oil exports category.
RN
