TRADE BOOST IN NIGERIA
The
European Union (EU) Ambassador to Nigeria and ECOWAS, Mr. Michael
Arrion, has announced that the EU is giving Nigeria an additional N4.2
billion grant, in order to boost trade and improve productive capacity
in Nigeria. The EU recently launched a programme, the Nigerian
Competitiveness Support Programme (NCSP) which is aimed at improving the
competitiveness of the Nigerian economy in the non-oil related sectors.
This will thereby, create jobs and reduce poverty through trade support
institutions and improved business and investment environment.
According to the Minister for Industry, Trade and Development, Dr.
Olusegun Aganga, the programme targets three components of trade policy,
investment climate and the issues of standard and metrology. The
Minister noted that the Standard Organisation of Nigeria (SON) has made
some progress in the last two years as the level of certified products
have improved from 10 to 40 per cent, while the substandard product
level has fallen from 80 to 45 per cent. The EU Ambassador noted that
the EU attached a great importance to its relations with Nigeria as an
important political and economic force in West Africa and a key player
in the African continent.
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