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Buhari seeks deeper trade cooperation with Portugal

President Muhammadu Buhari and Portuguese President Marcelo Rebelo de Sousa.

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

The President spoke at an Economic Seminar between Nigeria and Portugal businesses during his state visit to Portugal.

He noted that the two countries were in dire need of new investment opportunities, following the devastation to global economies, caused by the Covid-19 pandemic, and the current impact of the Russia-Ukraine conflict.

The President assured the Portuguese Government of Nigeria’s support to its citizens’ companies wishing to invest in the country, saying that the Nigerian Government recently awarded a contract to Mota-Engil, a Portuguese company, to construct a railway line that connects Kano in Northern Nigeria to Maradi in the Southern Niger Republic.

He explained that he had already directed the establishment of a dedicated Portugal working group, headed by the Ministry of Industry, Trade and Investment to address special concerns about the enhancement of the relationship.

On his expectations for the forum, the President expressed confidence that it was an appropriate platform to establish and strengthen business relationships, share valuable experiences, and collaborate for both countries’ mutual benefits.

President Buhari thanked President Marcelo Rebelo de Sousa of Portugal, who was present at the Seminar, for his contribution, interest, and trust in forging formidable economic cooperation between Nigeria and Portugal.

In his response, the President of Portugal, Marcelo Rebelo de Sousa told President Buhari that Portugal could help Nigeria diversify her economy.

The Portuguese President said President Buhari’s visit was a new beginning for every sector of their economies, hoping that the visit would facilitate the establishment of many companies in Nigeria.

Reporting by Abdullah Bello; Editing by Abdullahi Lamino