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Friday, 06 October 2017

EU-Nigeria trade hit 19.9bn Euros in 2016

Counsellor and Head of Trade and Economics of the European Union Delegation to Nigeria and the Economic Community of West African States (ECOWAS), Fillippo Amato, has said trade between Nigeria and European Union (EU) member states stood at 19.9 billion Euros in 2016, Besides, Amato stressed the need for the Nigerian government to expand its tax base in order to diversify its revenue. He disclosed this at a press conference to announce its sixth edition of the EU-Nigeria Business Forum slated for October 5 to 6 in Lagos. According to him, the EU remains the top destination for oil and non-oil exports from Nigeria. "Despite the significant effect of the recession on Nigeria's trade, EU-Nigeria trade remains strong, standing at 19.9 billion Euros in 2016," he said. He noted that the success of the Economic Recovery and Growth Plan (ERGP) launched by Nigeria in February 2017 depended on active private sector participation, which calls for effective confidence building to attract investors. "On the other hand, creating jobs that will stimulate the economy and provide sustainable employment, particularly for young people, is crucial both for the present and future of Nigeria," the EU envoy said.

Source: allafrica.com

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