Bayelsa Set To Partner NEXIM Bank On Non-Oil Exports Promotion
The Bayelsa State Government, on Thursday, indicated its preparedness to partner the Nigerian Export-Import (NEXIM) Bank, in harnessing non-oil and gas resources in the state for export.
The Deputy Governor, Senator Lawrence Ewhrudjakpo, made this known during a courtesy call on him by a delegation from NEXIM Bank, led by its South-South Regional Head, Mr. Soni Oseghale, in Government House, Yenagoa.
Expressing the belief that the objective of the bank was in line with the Assured Prosperity Agenda of the present administration, Senator Ewhrudjakpo, however, debunked the impression that Bayelsa was a mono-product state.
He emphasized that apart from oil and gas, the state is richly endowed with a wide range of natural resources, including fish and arable land capable of producing rice, oil palm, plantain and several other crops in commercial quantities.
The Deputy Governor, who maintained that Bayelsa has comparative advantage in aquaculture and fisheries, urged the visiting team to undertake a tour to the state’s fish farm at the Yenegwe- Igbogene area, which has potential for producing enough fish to feed the state and for export.
While calling on the NEXIM Bank to bring in their wealth of experience and expertise to help the state maximally harness its natural resources for export, Senator Ewhrudjakpo assured them that the state investment team was prepared for all the necessary discussions and documentation to ensure the prompt take-off of the partnership deal.
His words: “Your mission here is quite apt for us as a government, and your objective is also in line with that of our government of assured prosperity, especially in the area of diversifying the economy.
“But let me again correct the impression that Bayelsa produces oil and gas only. We are not a mono-product state, but Bayelsa is often short-changed in several ways.
“Look at the tax reforms now; what is there for Bayelsa? You are doing a tax reform for VAT and other things, but does oil not play a major part in VAT? There is VAT in the oil they are selling, but nobody is talking about it.
“We have products that we really would want you to encourage us to harness. If you have the time, I would like you to visit Yenegwe and see our fish farm there. In my opinion, that fish farm alone is enough for us to start from.
“That place was meant to export fish ; a lot of resources have been committed to it. It has capacity of processing about 10 thousand dried fish in a single day. It has a feed mill, and everything you can think of. It is like the fish terminal at Tamale, in Ghana.
“We actually believe that aquaculture should be our best foot out. We have a comparative advantage in rice, oil palm, shrimps, and all those things you have mentioned. But let us look for the ones that would give us immediate success.”
Earlier in his remarks, the Regional Head of NEXIM Bank, South South, Mr. Soni Oseghale, said the team was in Bayelsa to collaborate with the State Government in identifying non-oil resources available in commercial quantity which could be exploited and harnessed for export.
Mr. Oseghale, who noted that each of the 36 states of the federation had resources that could be tapped to earn foreign exchange, however, stressed that no deliberate effort had been made to correct Nigeria’s foreign trade deficit because of the country’s over-dependence on oil and gas for export.
He said the bank would readily deploy its strategy working in close synergy with the technical team of the Bayelsa State government to fully explore identified areas of comparative advantage for export purposes.
Present at the courtesy visit were the Permanent Secretary, Ministry of Trade and Investment, Mrs Peremoboere Soroh, and the Technical Adviser to the Governor on Accounts, Revenue and Treasury, Mr. Timipre Seipulou.
