Nigeria is South Africa’s leading trade partner in West Africa, accounting for 64% of South African trade in West Africa, with a trade volume worth $42.5 million, Nigeria Consul General, Abdulmalik Ahmed has said.
Given the breakdown of both countries’ trade relations, Ahmed said “in the last one year, South Africa imported from Nigeria in the region of $2.48 billion worth of goods, predominantly crude oil and exported $42.5 million worth of goods to Nigeria.
Besides, Ahmed said South Africans are among the top ten investors in Nigeria, while Nigeria is South African 10th biggest export market in Africa.
He also revealed that in 2020, Nigeria was South Africa’s top import market in Africa and sixth in the world behind China, Germany, US, India and Saudi Arabia.
He spoke during a meeting with various Nigerian groups in South Africa.
While noting that the current trade balance is in favour of South Africa, he however said that the mission is working assiduously to reserve the situation.
He also said more efforts would also be put in place to address challenges that have been impeding the trade relations.
The envoy also revealed that the joint committee put in place to check against xenophobia and other vices has helped to address some of the challenges hampering the good relationship between both countries.
