Nigeria-Namibia commerce hits $10 million yearly

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The Namibian authorities introduced that the amount of commerce between each nations hit $10 million yearly.

This was disclosed by Mr. Humphrey Geiseb, Excessive Commissioner of Namibia to Nigeria.

He disclosed this in a press briefing in Abuja, revealing that Namibia primarily exports salts and electronics to Nigeria.

What Excessive Commissioner is saying

He revealed that within the 90s, Nigeria supported Namibia via the Technical Assist Corps in rural areas stating that “Nigeria within the Nineteen Nineties began the Technical Assist Corps helping Namibian individuals in rural areas; at this time over 4000 individuals resident in Namibia are Nigerians.

“Lots of them are former Technical Assist Corps members who’ve chosen Namibia as their residence after their contract expired.
“Individuals to individuals contact between Namibians and Nigerians is comparatively excessive and, additionally after independence, many Namibians are resident in Nigeria, however our quantity is minimal.
“Yearly, we’ve got 1000 vacationers from Nigeria to Namibia; most are vacationers and folks going for enterprise.
“Authorities officers don’t want visas as a result of we’ve got agreements between each governments. Authorities officers and diplomats don’t want visas to journey between our two nations.
“Our commerce is round 10 million {dollars} a 12 months, and we’re primarily exporting salt and electronics; there’s a manufacturing unit that has been inbuilt Lagos to supply these Namibian electronics,” he acknowledged.
He added that each governments are hopeful that in August 2022, there can be a Joint Fee Cooperation between Namibia and Nigeria to spice up Namibia-Nigeria bilateral cooperation.
“We can have the following Joint Fee Cooperation between Namibia and Nigeria, the place we must always be capable to put a lot of win-win tasks between Namibia and Nigeria on the desk.
“That is the fifth time that this Joint Fee can be assembly, and it has stood the check of time.
“It’s a testimony of a robust relationship between them that has been in existence for the reason that tough days of independence,” he added.

What it’s best to know

Nairametrics reported earlier this 12 months that the Nigerian Nationwide Motion Committee on the African Continental Free Commerce Space, AfCFTA, revealed that its strategic goal is to seize 10% of Africa’s imports by 2035, thereby doubling Nigeria’s export within the course of.
Franca Achimugu, Coordinator Oil and Fuel Workstream, Secretariat of the Nationwide Motion Committee on the AfCFTA, mentioned, “AfCFTA means Nigeria is now not Africa’s largest economic system; we have to sit up and get our home so as.”
She added that Nigeria is aligning itself for agreements, which comes with the elimination of tariffs.
“Mainly it’s native content material for Africa, Africa by Africa, commerce and course of merchandise between ourselves.
“For companies, we are able to set up a mutual settlement, double intra-African commerce from 15% and Africa’s contribution of worldwide commerce from 3-6% in ten years,” she mentioned.