Nigeria Signs MOU With Mexico On Non- Oil Export

By Mathew Ayoola

As part of measures to further promote the export of Non-oil products, Nigeria has signed a Memorandum of Understanding, MOU, with Mexico.

On the occasion in Abuja, the Executive Director/CEO of Nigeria Export Promotion Council, NEPC, Mrs Nonye Ayeni who signed on behalf of Nigeria said the move would also boost national economic development and strengthen bilateral trade relations with Mexico.

“Nigeria is endowed with so much resources in huge quantities. We have urea, cashew, cocoa, ginger, hibiscus and so many others and we also have minerals like tin, gold, diamond amongst others and currently, Nigeria’s music, fashion and movie industries make exports” She stated.

According to her, some of the Nigeria’s non-oil products exported to Mexico are agricultural products, such as cocoa, hibiscus and solid minerals like tin and limestone.

“In 2022, published reports by the International Trade Center (Geneva) showed that import from Mexico by Nigeria totaled US$124,145,000, while Nigeria’s export to Mexico was worth US$91,780,000 Still in 2022, Nigeria exported US$ 79.3 million worth of fertilizer to Mexico while Mexico imported US$ 3.5 billion from other sources” the NEPC Boss explained.

Mrs Ayeni said Nigeria’s export of sesame seed to Mexico was US$3.1 million while Mexico imported million worth of sesame from other markets while Mexico also imported soyabean worth billion from other sources in 2022.

“Nigeria and Mexico have participated in several trade missions and exhibitions to explore business opportunities in each other’s markets. For example, in 2019, a Nigerian delegation visited Mexico to participate in the Mexico-Pacific Alliance Business Forum, which aimed to promote trade and vestment between Mexico and the Pacific Alliance (a trade bloc comprising exico, Colombia, Peru, and Chile” She added.

Signing on behalf of Mexico, the Chairman, International Section for Africa, Mexico – ECOWAS, Dr Heribert Gorcia restated the continuous support and commitment of Mexico towards trade and economic development in Nigeria.

Dr. Gorcia stated that the MOU would go a long way to strengthen Mexico – Nigeria ‘s bilateral trade relations.

Also speaking, the Ambassador of Mexico to Nigeria, Alfredo Miranda commended the bilateral relations between the two countries over the years.

Ambassador Miranda promised Mexico’s technical support to Nigeria on human capital and economic development.

Edited By Grace Namiji