President Muhammadu Buhari and the Director General of the WTO, Ambassador Roberto Azevedo
The Nigerian President, Muhammadu Buhari, has assured the World Trade Organization (WTO) of the nation’s full commitment to free international trade, despite its present economic circumstances.
President Buhari spoke on Monday at a meeting held at the Presidential Villa with the Director-General of the World Trade Organization (WTO), Ambassador Roberto Azevedo.
Biggest Employers Of Labour
The President assured him that Nigeria would remain part of the world’s market, in spite of the dwindling price of crude oil.
Nigeria economic mainstay has drifted from agriculture to crude oil since mining of crude began.
“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 had continued to work with multilateral organisations.
Mr Azevedo told the President that the trade group would soon start conversations on important issues for Nigeria, 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.