President Muhammadu Buhari said yesterday in Abuja that Nigeria remains fully committed to free international trade, despite its present economic circumstances.
Buhari, who spoke in an audience in the presidential villa with the director-general of the World Trade Organization (WTO), Ambassador Roberto Azevedo said Nigeria remained an integral part of the global market space.
The president in a statement by his special adviser media,Femi Adesina, assured that the nation would play its role 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 WTO boss in his remarks expressed delight that Nigeria continued to work with multilateral organizations despite its challenges.
He added 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 it has.
“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.