Taiwan eyes local content as trade with Nigeria soars by 200%

Taiwan is considering boosting its presence in Nigeria by exploring local solutions as the country’s trade with Nigeria soars by 200 per cent to $1 billion.
 
Taiwan’s Ambassador to Nigeria and Representative, Taipei Trade Office, Andy Yih-Ping Liu, said Taiwanese investors are looking to expand their footprint in Nigeria with local plants instead of focusing only on exporting to Nigeria.
 
The East Asian country, according to Liu, could make Nigeria a hub for steel pipe where it would reach other African markets.
 
Liu disclosed that the trade between the country and Nigeria has been growing exponentially as the 2021 figure showed a 200 percent recovery after the Covid-19 outbreak, showing a positive outlook. Sesame, groundnut and petroleum products are being shipped to Taiwan from Nigeria as the country exports automobile parts, hand tools and machinery for agriculture, among others.
 
More details at:
https://guardian.ng/business-services/industry/taiwan-eyes-local-content-as-trade-with-nigeria-soars-by-200