The Member Representing Bekwarra/Obudu/Obanliku Federal Constituency of Cross River State in the House of Representatives, Rt. Hon. Legor Idagbo has proposed the repeal of the Nigerian Export Promotion Council Decree No. 26 of 1976 that was promulgated by the then Military regime of General Olusegun Obasanjo.
The Member of Parliament is sponsoring the Trade Development Authority of Nigeria Act 2022 to take its place in order to provide a dedicated effective and empowered organization responsible and accountable for maximization of exports and trade in Nigeria.
The Trade Development Authority of Nigeria is expected to also provide effective support and structured interaction with stakeholders in formulation of consistent, practical and effective trade policies, regulations and trade development initiatives.
Legor Idagbo said that beyond the Nigerian Export Promotion Council Decree being a product of the military, modern trends globally also justify the need for the new Act, saying when passed and signed into law, the Act will drive new trade agenda in Nigeria and help diversify the nation’s economy.