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Volume of Nigeria-UK trade may hit £8bn by 2014 – official

Mr Chukwuemeka Awagu, a former President of the Nigerian-British Chamber of Commerce, on Tuesday said that the volume of trade between Nigeria and Britain could hit eight billion pounds by 2014.

“Available data indicate that the trade volume between the two countries stood at 6.4 billion pounds at the end of 2012,“ he told with News Agency of Nigeria (NAN) in Lagos.

According to Awagu,  Nigeria and the U.K have been enjoying cordial business relations spanning several decades.

“In the annals of relationships among nations, Nigeria’s relationship with Britain has been a very special one, spanning political, cultural, religious, educational, historical and economic, among others.

“Nigerian businesses have continued to look up to the UK markets for finished goods, technological know-how and financing.

“UK companies and investors also look up to Nigeria for viable platforms to deploy manufactured products across various sectors of the Nigerian economy,” he said.

Awagu advised the two countries against using discriminatory policies to jeopardise their cordial trade relationship.

He also urged the two nations against violating the terms of trade and investment agreements they both acceded to in 2010. (NAN)


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