Otunba Adeniyi Adebayo, Minister of Industry, Trade, and Investment, has called on the United Kingdom to address the challenges faced by Nigerian businesses, especially with regard to restrictions and tariffs.
Speaking at the 6th ministerial meeting of the UK-Nigeria Economic Development Forum (EDF) held virtually on Friday, Adebayo said, “In as much as we are flexible and committed to facilitating UK business concerns, we also request that the UK should continue to reciprocate and address the challenges faced by Nigerian businesses, especially with regard to restrictions and tariffs.”
The Minister also expressed optimism that as the impact of the COVID-19 pandemic eases on economies, efforts towards building the capacity of Small and Medium Enterprises to attain relevant certifications for export to UK and EU markets will be prioritised.
He stressed the importance of the Trade Policy relationship between the two countries, pointing out that work was in progress towards reviewing Nigeria’s trade policy document to reflect the current realities.
Adebayo commended the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, and the Comptroller-General of Customs, Col Ahmed Ali, for being proactive in improving trade facilitation for UK businesses in Nigeria, saying “It is my hope that the U.K remains committed to facilitating deliberations for the purpose of addressing issues raised at the 4th Business Dialogue.”