Pak businessmen invited to tap huge trade potential of Nigeria

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LAHORE: High Commissioner of Nigeria Major General (retd) Ashimiyu Adebayo Olaniyi said on Saturday that there is huge untapped potential for Pakistan and Nigeria that could be explored through joint ventures between the private sectors of the two countries.

The Nigerian government would extend maximum cooperation to achieve the goal of economic prosperity, he added.

Talking to LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Executive Committee Members here at Lahore Chamber of Commerce and Industry, he said that low volume of the bilateral trade demands extraordinary efforts from the businessmen of the two countries.

The Nigerian HC invited the Pakistani businessmen to enter into joint ventures with their Nigerian counterparts in the fields of agriculture, textile and manufacturing. He said that easing of visa process between the two countries could increase the bilateral trade in shortest possible time.

“Nigeria is one of the major member states of African Union. It is classified as an emerging market rapidly approaching middle-income status. However, this relationship has not been translated into tangible economic ties,” he added.

The current trade volume between Nigeria and Pakistan is about $ 500 million,” Nigerian High Commissioner concluded.

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