Nigeria imports N768bn goods from U.S. in 2011, any hope for locally made stuffs?
NIGERIA imports from the United States of America increased from
$747 million, which it recorded in 2010 to $4.8 billion (N768 billion)
as at December 2011.
The Nigeria-United States Chambers of Commerce (NUSACC) said recently in a media statement signed by the Communication Director, Primus Igboaka, that it was a sign that Nigeria was demanding more of American products and services.
The President and Chief Executive Officer of Spectrum Global Solutions LLC, an international trade consultant and a member of Nigeria-USA Chamber of Commerce (NUSACC), Mr. Mike Obi stated that there were huge potentials awaiting American companies and investors wishing to do business in Nigeria.
He disclosed that his experiences doing business in Nigeria has showed that Nigerians love Americans, as well as, the quality of American goods. He added that what surprises him through his years of doing business in Nigeria is that while the Europeans, Indians, Arabs, Israelis, and Asians are everywhere doing business in Nigeria, ‘hardly do you see any American in the crowd.’
He disclosed that the on-coming NUSACC’s 3rd International Trade and Investment summit scheduled to hold on August 9-14, 2012 in Lagos would afford participants the opportunity of having a view of the business opportunities, doing the networking and eventually deciding whether they could do business in Nigeria. The theme of the three-day Lagos summit is, “Identifying Partners to Maximize Business Opportunities in Africa’s Fastest Growing Economy, Nigeria.” In fact the motivation for hosting the Lagos summit was as a result of the successful outcome of 2011 summits organised in collaboration with the Cleveland Council on World Affairs (CCWA), the Quicken Loan/Cleveland Cavaliers, U.S Department of Commerce, U.S Small Business Administration, the Overseas Private Investment Corporation (OPIC) and the Embassy of the Federal Republic of Nigeria, Washington D.C. More than 150 organisations from the US attended NUSACC previous summits.
Reflecting on personal experience of doing business in China and now in Nigeria, Bonnie Speed’s President & Chief Executive Officer, Hardy remarked that there is huge opportunity awaiting U.S companies, wishing to tap into the huge Nigeria’s market with more than 160 million people majority of who are young.
According to Hardy, while several countries have their average age of consumers at between 29 and 30 years old, Nigeria’s average consumer age is several years younger.
He added that Nigeria, which have the taste of goods and services like their contemporaries in developed countries such as the United States are market waiting to be harnessed or tapped into by companies and investors.
The Nigeria-United States Chambers of Commerce (NUSACC) said recently in a media statement signed by the Communication Director, Primus Igboaka, that it was a sign that Nigeria was demanding more of American products and services.
The President and Chief Executive Officer of Spectrum Global Solutions LLC, an international trade consultant and a member of Nigeria-USA Chamber of Commerce (NUSACC), Mr. Mike Obi stated that there were huge potentials awaiting American companies and investors wishing to do business in Nigeria.
He disclosed that his experiences doing business in Nigeria has showed that Nigerians love Americans, as well as, the quality of American goods. He added that what surprises him through his years of doing business in Nigeria is that while the Europeans, Indians, Arabs, Israelis, and Asians are everywhere doing business in Nigeria, ‘hardly do you see any American in the crowd.’
He disclosed that the on-coming NUSACC’s 3rd International Trade and Investment summit scheduled to hold on August 9-14, 2012 in Lagos would afford participants the opportunity of having a view of the business opportunities, doing the networking and eventually deciding whether they could do business in Nigeria. The theme of the three-day Lagos summit is, “Identifying Partners to Maximize Business Opportunities in Africa’s Fastest Growing Economy, Nigeria.” In fact the motivation for hosting the Lagos summit was as a result of the successful outcome of 2011 summits organised in collaboration with the Cleveland Council on World Affairs (CCWA), the Quicken Loan/Cleveland Cavaliers, U.S Department of Commerce, U.S Small Business Administration, the Overseas Private Investment Corporation (OPIC) and the Embassy of the Federal Republic of Nigeria, Washington D.C. More than 150 organisations from the US attended NUSACC previous summits.
Reflecting on personal experience of doing business in China and now in Nigeria, Bonnie Speed’s President & Chief Executive Officer, Hardy remarked that there is huge opportunity awaiting U.S companies, wishing to tap into the huge Nigeria’s market with more than 160 million people majority of who are young.
According to Hardy, while several countries have their average age of consumers at between 29 and 30 years old, Nigeria’s average consumer age is several years younger.
He added that Nigeria, which have the taste of goods and services like their contemporaries in developed countries such as the United States are market waiting to be harnessed or tapped into by companies and investors.
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