The balance of trade between Nigeria and the United Kingdom is still heavily in favour of Britain, hence the need for an urgent diversification and clearance of all bottlenecks which stifle foreign direct investment.
So says the Director General of the Presidential Enabling Business Environment Council, Zahra Mustsapha-Audu.
At a joint press briefing in Abuja alongside the Country Director of the UK Department for Business and Trade, Mark Smithson and the UK High commissioner , Richard Montgomery, she said without synergy by Nigerian agencies, the huge investments will not flow inwards.
As at end of 2024, U.K exports to Nigeria was 5.3 billion pounds, while import from Nigeria stood at 1.5 billion pounds, 90 percent of which is from hydrocarbons such as petroleum, gas and nitrogenous fertilizers
(Editor: Anoyoyo Ogiagboviogie)
