Trade Volume: Nigeria-Norway Hits $30 Billion in Trade

importsCranes load containers onto a ship at the container wharf in Tokyo port on December 17, 2014. AFP PHOTO / TOSHIFUMI KITAMURA
  • Trade Volume: Nigeria-Norway Hits $30 Billion in Trade

Norwegian Ambassador to Nigeria, Jens-Peter Kjemrud, has disclosed that the volume of trade between Nigeria and Norway now stood at $30 billion.

Kjemprud, who was speaking at a stakeholders’ meeting to present and promote investment opportunities in Norway for prospective Nigerian investors, said Nigeria is Norway’s biggest trading partner on the continent and there is room to do more.

The Ambassador said Federal Government can attract investors with tax incentives, however, he called on the President to do more in the area of security.

He further stated that Norwegian investors are interested in Nigeria’s energy sector.

“As you have heard here today, we have focused a lot on the energy sector. If Nigeria is going to improve in the manufacturing sector, the country needs to have stable and cheap power supply. If not, the manufacturing sector will not be competitive in the current market. We are one of the biggest players in global maritime activity and we have told our Nigerian partners that technology is the future and Nigeria has to be prepared for it. There is technology here which is being utilised but there is a need to take it to the entire sector and for government to support it.” – Kjemrud

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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