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Investments Ireland to expand their market share in Nigeria

Republic of Ireland is planning to invest huge amounts in different sectors of Nigeria in the next four years.

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Irish Trade envoy at a conference in Lagos (source: nation onlineng) play

Irish Trade envoy at a conference in Lagos (source: nation onlineng)

Republic of Ireland is planning to invest huge amounts in different sectors of Nigeria in the next four years.

The Irish Minister for Agriculture, Food and Marine, Simon Coveney spoke to this effect at Lagos when he led a delegation of Irish businessmen on a trade mission to Nigeria and also said that their goal is to reach export sales of 600 million euros by 2018.

Conveney who was in the company of Ambassador of Ireland to Nigeria, Seán Hoy and Chief Executive, Enterprise Ireland, Julie Sinnamon, said this was probably one of the largest trade missions from Ireland to have ever visited Nigeria.

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We have the largest ever trade mission we have brought to Nigeria. We have 42 companies with us, ranging from aviation, financial services, construction, waste management, agriculture, software system and among a broad spectrum of different Irish skills set hat we are hoping will become embedded in the Nigerian economy in the future” he said.

The Irish Minister noted that regardless of what the situation is today, particularly the negative impact on the country’s economy of the declining price of crude oil, Nigeria has the potential to rise again.

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Nigeria is possibly the most exciting economy in the world to work in considering the potential for growth and expansion here in terms of resources, in terms of population growth. By 2050, it is projected that the current population of about 190million could expand to say about 430million people. And that pace of growth is going to drive food demand, in terms of consumption pattern, in terms of energy, water, transportation, financial services and quality of life issues and so on. And that is very challenging environment to work but it’s also very exciting” the envoy added.

Ireland has a strong trade relationship already with Nigeria dating back to 1961. The country established its first ever embassy in the continent of Africa in Nigeria.

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A member of the trade envoy Sinnamon said “This trade mission is about helping Irish companies to optimise on the opportunity that exists, as the continent transitions from the need for assistance, to a continent of opportunity; the so-called ‘aid to trade’ journey.

Ireland is looking forward to expand their market share in African countries, exploring and developing lucrative trading relationships that ultimately deliver export-led job creation in Ireland.

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