The Minister of Industry, Trade and Investment, Jumoke Oduwole, the Nigeria British Chamber of Commerce, among others, have said there is a room to do more to increase value and volume of trade between Nigeria and the United Kingdom, UK.
Speaking at the NBCC 2024 Presidential Dinner & Awards, held in Lagos, Oduwole said that the trade relationship between Nigeria and the UK was valued at 7.5billion pounds, with Nigeria exporting approximately $2.5billion annually.
She stated: “There is room to achieve more. By targeting a modest 1 to 5 per cent increase in export to the UK over the next two years, we could generate an additional $25 million to $125 million in export revenue. This would strengthen sectors such as agriculture, manufacturing and oil while enhancing foreign reserves and enforcing our global competitiveness.
“I challenge the NBCC to lead this charge, expand the Nigeria market, foster partnerships and support productivity improvement to make this goal a reality.
“Together, we can move the needle on the trade volumes and productivity, ensuring that this relationship truly delivers prosperity for both nations.”
