By Charles Nwaoguji
THE President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Chief Bassey Edem, has said that the volume of bilateral trade between Nigeria and Brazil has hit $10.8 billion.
Edem, who disclosed this at a business forum organised by the Nigerian- Brazilian Chamber of Commerce and Industry (NBCCI) held recently in Lagos, said that the reason for the high volume of trade between the two countries was the strong mutual understanding between Nigeria and Brazil.
He stated that Nigeria imports a lot of agricultural products, solid minerals and energy resources, while the major export of Nigeria is crude oil. He expressed confidence in the positive response and willingness by Brazilian companies to partner with Nigerian businesses.
He explained that the peculiar challenges of Nigerian business and investment environment, like any other developing economies in the world, have improved tremendously with numerous opportunities in agriculture, manufacturing, solid mineral, oil and gas, tourism, power and telecommunication.
He therefore called on the visiting Brazilian firms to take advantage of the existing incentives and enter into long-term business relationship with their Nigerian counterparts.
Also speaking at the event, the Nigerian Ambassador to Brazil, Adamu Emozozo, said the visit was in response to the Federal Government foreign investment drive, which was meant to stimulate economic growth and job creation.
Emozozo noted that there was need to balance the gap as it favoured Brazil more than Nigeria. He also told the visiting firms that Nigeria is open to investment in agriculture, with each sector having its incentives to attract foreign direct investment.
Speaking in the same vein, the President of NBCCI, Mr. Emmanuel Ibru, said that the private sector holds the key to commercial and industrial growth of the nation.
“I see private sector operators as strong partners in the economic transformation of the society and I urge the local and international investors to exploit the good resources of Nigeria,” he said.
Source : SunOnline