2 Months after Okonjo-Iweala's Appointment, WTO Reveals Powerful Facts about Nigeria
- Nigeria is absent on the list of global exporters, according to the 2020 release of the WTO
- In terms of the importation of commercial services, Nigeria is the biggest throughout Africa
- The international organisation made these revelations on Friday, April 16
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According to the latest report of the World Trade Organisation (WTO), released on Friday, April 16, Nigeria is the biggest importer of commercial services in Africa.
The WTO revealed that while Nigeria maintains this position in the continent followed by Egypt, it is the 25th commercial importer throughout the world.
Source: Twitter
Even worse, whereas Egypt and Morocco made the list of world exporters, Nigeria is nowhere to be found in the global commercial exporters’ list.
The organisation revealed the information in a tweet on Friday:
Meanwhile, a complaint against Nigeria had been made to the WTO. According to the report, the European Union (EU) reported Nigeria to the international organisation concerning the nation’s policy on dairy products.
Dr. Ngozi Okonjo-Iweala, the WTO DG made this disclosure in Abuja on Tuesday, March 16, during her visit to the Central Bank of Nigeria (CBN).
Okonjo-Iweala said the WTO had received a letter from the EU complaining about Nigeria’s restrictions on milk and dairy products.
While noting that the complaint would be looked into, the former minister of finance urged Nigeria to take advantage of the trade remedy initiative in place at the organisation to protect local industries.
Back in 2019, CBN added milk and other dairy products to the foreign exchange restriction list with the aim to boost investments in local ranches.
Before this, Okonjo-Iweala had been finally appointed as the director-general of the WTO.
According to a brief statement released by the WTO via its verified Twitter page, Okonjo-Iweala was appointed following the decision taken at a special meeting of the General Council on Monday, February 15.
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Legit.ng gathered that the decision follows a selection process that included eight candidates from around the world.
Source: Legit.ng
