President Muhammadu Buhari has said Nigeria, under his administration, will remain fully committed to free global trade despite its present economic challenges.
Speaking at an audience with the Director General of the World Trade Organization, WTO, Ambassador Roberto Azevedo in the State House yesterday, the President assured him that Nigeria will remain part of the world market, in spite of the dwindling price of oil.
“I am glad that you are aware of the position we’ve found ourselves, the state of our economy, our consumption pattern, and many others. Despite it all, we remain committed to the ideals of free international trade championed by the WTO,” the President said.
The WTO boss expressed delight that Nigeria continued to work with multilateral organizations, adding that the trade group will soon start conversations on important issues for the country, including development of Small and Medium scale Enterprises, SMEs, which he described as biggest employers of labour in developing countries.
“We want to bring the private sector close, so that we can understand the main challenges.
“Nigeria has a big part to play, though the times are difficult. Prices of oil are unprecedentedly low, emerging economies are slowing down, and commodity prices are shrinking. But majority of WTO members know that there is no gain in blocking goods,” he said.