Trade volumes between Nigeria and South Africa drop to N1.3 trillion in 2016
Friday, 10 February 2017 16:21
Trade volumes between Nigeria and South Africa fell to about N1.3 trillion ($4.1billion) in 2016 from N1.5trillion ($4.8billion) in 2015, South African Ambassador to Nigeria, Lulu Aaron-Mnguni, revealed.
Aaron-Mnguni who disclosed this in Abuja on Thursday said that bilateral relations between the two countries were excellent but could still be improved.
According to the envoy, trade increased steadily from N488 billion ($1.5billion) in 2010 to N1.5 trillion in 2015. This increase was as a result of Nigeria's demand for automotive parts, South Africa's export cars, uncoated paper and paperboard.
He added that South Africa wants to learn from Nigeria which is good in the field of oil and gas. This, in order to boost its economy.
Anita Fatunji
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
Kenya Signs $311 Million PPP Agreement to Upgrade Power Transmission Grid
12:55
-
Burkina Faso: Orezone Produces First Gold at $80M Bomboré Plant, Output Set to Rise in 2026
12:41
-
Ashoka Fellowship Opens to African Social Entrepreneurs
11:39
-
Indian Commerce Platform Fynd Enters South Africa Via Retail Partnership
11:29
-
Egypt’s Ivoiceup Raises Fresh Capital To Expand In Gulf Markets
11:25
-
Togo Digitizes 29 Energy Services as Part of Public Sector Reform
11:17
-
Stakeholders Rally in Douala to Fast-Track .cm Security as Adoption Lags
10:20
-
Cameroon targets 10% cut in public buildings electricity bill in 2026
10:13
-
Bamenda gas Plant Opens, Promising Steadier Energy Supply and Lower Household Costs
10:10
-
Palm Hills, Marriott to Develop St. Regis Project in West Cairo as Egypt Targets High-End Tourism Investment
10:03
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...
Kenya signs $311 million deal to build two high-voltage power lines Private partners finance, build, operate lines under 30-year concession New...
Orezone produces first gold at new Bomboré plant on December 15 $80 million facility targets 45% output increase by 2026 Bomboré production forecast...
Government reviews higher education reforms at 2025 conference Authorities push for more professional and market-driven training Youth...
Nairobi will host the summit in 2026, co-organized with Norway, the United States, and the IEA Event aims to speed up access to clean cooking for...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...
(FEZ–MEKNES REGION) - As AFCON 2025 approaches: the Fez-Meknes region is emerging as one of Morocco’s most strategic tourism hubs, offering strong...