Nigeria, France Trade Volume Hits $7bn – Envoy

Trade between Nigeria and France currently stands at $7 billion, Nigeria’s envoy to France, Amb. Akin Fayomi, has said.

Fayomi, who spoke with the Western Europe Correspondent of the News Agency of Nigeria (NAN) on Tuesday, in Paris, said that the figure represented the volume of trade in 2012.

"As at 2012, the volume of trade was about $7 billion which translates to about 4.5 billion euro. It is a lot of money considering the economic recession, though given the potentials of Nigeria we feel it is not enough.

"We are France's second largest trading partner in sub-Saharan Africa, and the trade is in favour of Nigeria as oil is our main export," he said.

The envoy, however, said that French investors were keen on exploring other areas of investment.

"Already, there is a lot of involvement in other sectors like construction, manufacturing and others.  The oil sector is saturated; Total has been operating in the country for many years.

"Also in Pharmaceuticals, there are some companies that manufacture drugs in partnership with some Nigerian companies,’’ Fayomi said.

He added: "Similarly, in waste management and maintenance culture, some state governments are in partnership with French companies."

Fayomi further said that the embassy was liaising with some French institutions for exchange programmes for Nigerian students and teachers in order to encourage the study of French as a language.

NAN reports that upon its attainment of independence in 1960, Nigeria immediately established diplomatic relations with France.

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Firm Says River Kolmari In Bauchi Can Generate 10MW Of Electricity

The management of NIGAZ  company has said that River Kolmari, situated between Bauchi and Gombe States border, is capable of producing 10 Megawatts of electricity for the nation. A representative of the firm, Mr Andrey Maslov, said this on Friday ...

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Gov Imoke Disburses N85.4m To 56 Communities

The Cross River Government on Friday disbursed N85.4 million to 56 communities under its World Bank assisted programme.

The disbursement was undertaken through its Community and Social Development Agency.

Presenting cheques to the various communities at the Transcorp Hotel, Calabar, Gov. Liyel Imoke commended the them for complementing government's efforts at transforming rural communities.

Imoke said that government-initiated programmes were not meant for urban areas alone since every citizen had equal right and opportunity to government projects.

He expressed satisfaction with the work done by the agency and the way communities designed, utilised and regarded the projects as theirs.

The governor urged them to continue to protect and utilise the projects as government would increase its annual contribution if demands from communities grew.

Imoke said by meeting the conditionality for the execution of project, it meant that they had the passion and commitment.

He advised them to use the funds judiciously and warned them against its mismanagement.

The chairman of the agency, Chief Asuquo Ekpenyong, said the agency had proven to be reliable, fast and cheap mechanism to fast track rural development.

Ekpenyong said it had so far approved 192 Community Development Plans comprising 531 multi-sectoral micro projects.

He said the projects had ``a cumulative cost of N1.666 billion with the agency’s contribution of N1.499 billion. (NAN)

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