NEWS

Nigeria’s trade with Ireland rises to N72.8bn

The Irish Ambassador to Nigeria, Mr. Patrick Fay, has said the value of trade between Ireland and Nigeria has risen to €350m (about N72.8bn).

Of the amount, he said Ireland’s exports to Nigeria accounted for €50m, while imports made up the balance of €300m.

He gave the figures in Abuja while speaking to journalists on the sidelines of the unveiling of the Irish Mayor.

Irish Mayor is a cream liqueur created by the first elected Black African Mayor in Ireland, Mr. Rotimi Adebari, to showcase the hospitable nature of the Irish people.

Fay said the creation of the product would further stimulate trade relations between both countries, which before now had been dominated by crude oil sales.

He said, “Yes, there was a massive increase in the Irish import of Nigerian products last year because our oil imports increased dramatically. We want to increase it more because you can’t deal with Africa without Nigeria. It’s the biggest market in Africa.

“I think the level of trade last year was about €50m that we exported to Nigeria and I think €300m was what we imported to Nigeria. It’s pretty big. We are at the early stage and if our delegation visits next year, we will see improvements.”

To help broaden trade between both countries, Fay said about 20 Irish companies would be in Abuja to meet with the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, to explore possible investment areas.

He said, “This is a very good link between Ireland and Nigeria. Trade relations between Nigeria and Ireland date back a long time.

“We are trying to develop trade with Nigeria; so, my Minister for Trade and Development is coming here to Lagos in November with a trade delegation of about 20 Irish companies to see how they can develop business with Nigeria.

“We are trying to develop the link and make it stronger. To do that, we are working closely with the Nigerian Ambassador in Dublin and the Department of Foreign Affairs to work together to develop our trade.”

Earlier, Adebari had expressed optimism that the product would help to further strengthen the relationship between both countries.

Source: The Punch

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