New Telegraph

Buhari seeks increased trade, says Nigeria recorded $1.6bn exports to US in 2020


Lawrence Olaoye, Abuja

President Muhammadu Buhari has described the United States as Nigeria’s main trading partner and one of the nation’s most important diplomatic partners, underscoring the need for concerted efforts to increase the volume of bilateral trade.

The President said this 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.

According to a release Thursday night by his spokesman, Femi Adesina, Buhari 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,” he said.

He added that Nigeria was open to deepening collaboration with BCIU, pledging his administration’s continued commitment to maintain an enabling business environment friendly to foreign investors.

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