Buhari wants rise in trade diversification with Portugal

President Muhammadu Buhari has called for an increase in the volume of trade with Portugal as well as diversification to non-oil products. 

He spoke Thursday at an economic seminar between Nigeria and Portugal businesses during his state visit to Portugal. 

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He said the two countries were in dire need of new investment opportunities following the devastation on global economies caused by the COVID-19 pandemic and, in recent times, the impact of Russia-Ukraine conflict.

He assured of Nigeria’s support to Portuguese companies wishing to invest in the country.

Buhari disclosed that recently, the government of Nigeria awarded a contract to Mota-Engil, a Portuguese company, to construct a railway line that connects Kano in Northern Nigeria to Maradi in Southern Niger Republic. 

 ‘‘Just two months ago, Portugal opened its first North Africa Trade Chamber. This will complement the Chamber in South Africa.” 

Meanwhile, Nigeria and Portugal have expressed determination to take relations to a whole new level with concrete deliverables and stronger ties 46 years after the establishment of diplomatic relations. 

Buhari said this Thursday in Lisbon at a joint press conference with President Marcela Rebelo de Sousa of Portugal. 

He said the agreements included the establishment of an Atlantic research centre, air travel, political consultations, diplomatic training, cultural cooperation, investment promotion, chambers of commerce cooperation, women and child development; youths and sports development and digital economy cooperation.

‘‘The world is at a crossroads. The decisions we take as leaders could make or break the world as we know it,” Buhari said.