The Pakistan Ambassador designated to Nigeria Major General Asif Duraiz Akhtar (Retd) has said the Nigerian pharmaceutical and agriculture sectors have vast scope for investment so Pakistani businessmen should come forward to avail the opportunities.
Speaking at Lahore Chamber of Commerce and Industry (LCCI) here on Saturday, the Ambassador-designate said that he would circulate information amongst the Pakistani business community regarding the trade opportunities available in Nigeria so as enable them to take benefit of the scope and enhance trade ties with Nigeria.
He urged upon the LCCI to arrange a trade delegation for Nigeria so that the businessmen could be able to have first-hand knowledge of the opportunities available there. He said that he would take measures to facilitate the Pakistani businessmen who want to trade with Nigeria.
Speaking on the occasion, the LCCI President Zafar Iqbal Chaudhry said that his posting as Ambassador of Pakistan to Nigeria would usher in a new era of understanding and co-operation between the two countries. Nigeria is an emerging market, and is quickly approaching middle income status with its abundant supply of resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa, he added.
He said that Pakistan and Nigeria are members of Organisation of the Islamic Conference (OIC) for the last so many years. However, he said, this relationship has not been translated into tangible economic ties. He said that Nigeria unfortunately does not figure prominently among the trading partners of Pakistan. As per available information, the volume of trade between the two countries was hardly 68 million dollar during the year 2008, thus keeping the balance of trade in favour of Nigeria.