Buhari Seeks Increase In Volume Of Trade As Nigeria Records Over $1.69bn Exports To US
President Muhammadu Buhari has described the United States as Nigeria’s main trading partner and one of “our most important diplomatic partners”, underscoring the need for concerted efforts to increase the volume of bilateral trade.
The President spoke at a meeting with the Business Council for International Understanding (BCIU), at the Nigeria International Economic Partnership Forum, held on the margins of the 77th UN General Assembly in New York on Thursday.
He told the gathering that in 2020, Nigeria exported over $1.69 billion worth of goods to the US, adding that these exports were primarily made up of crude oil and other petroleum products.
“Nigeria’s capability is not just limited to the oil and gas industry, but variety of other sectors that hold notable potentials.
“We are the largest economy in Africa and have over 200 million-strong consumer market that is home to a range of attractive opportunities in sectors such as agriculture, healthcare, light manufacturing, infrastructure development and technology.
“The beauty of this forum is that the Ministers responsible for all of these sectors are here today, as are some of Nigeria’s premier business leaders who are already excelling in these spaces”, President Buhari said in a statement issued by his Special Adviser on Media and Publicity, Femi Adesina.
The President further said that Nigeria is open to deepening collaboration with BCIU, pledging this administration’s continued commitment to maintain an enabling business environment that is friendly to foreign investors.
“Going into partnerships with trusted local and foreign partners who have well-established networks and understand the dynamics of the country is one way to guarantee success in Nigeria.
“Today’s event provides a platform for businesses under the BCIU umbrella to make connections with credible Nigerian partners. I trust that this event will help build partnerships that will translate into increased trade and investment flows between Nigeria and the United States”, he said.