The Nigerian-American Chamber of Commerce (NACC) says it will engage the United States (US) government in meetings and memoranda to create favourable bilateral trade relations between the US and Nigeria.
The President of the Chamber, Mr. Oluwatoyin Akomolafe, was quoted as making the plan known in an interview with the News Agency of Nigeria (NAN) in Lagos.
The industrialist pointed out that securing favourable trade tariffs for Nigeria would enhance economic cooperation, promote business and services and shared prosperity between the two countries.
According to him, to achieve this goal, the Chamber would mobilise all stakeholders to make the US government create better trade deals for Nigeria directly and by so doing, reduce the nation’s dependence on oil and increase engagement with China.
The NACC boss explained: “Here in Nigeria, we have seen an increase in Chinese investments in infrastructure, development and with the recent currency swap.
“It is our desire to reduce our importation of goods and dependence on oil, and therefore it is imperative to work to shape memoranda that will push the United States to create favourable tariffs for Nigeria.
“To that end, we will begin talks and plans to create the types of tariffs we will like to see here in Nigeria”, Akomolafe added.
In addition, he spoke of other plans, including the organization of more trade delegations to US and also encouragement of the chamber’ssector groups to embark on trade missions to promote Nigeria’s interests.
The NACC chief noted further that the tariffs imposed by the President Trump administration as they relate to would have rippling effects globally, especially the tariffs imposed on China will push African into harsh financial climates.
He clarified further: “Here in Nigeria, we import almost everything from China; if the Chinese have to pay more to trade with the US, those extra expenses will be passed on to Nigerian consumers which will result in imported inflation.
“To combat this and its potential ripple effects on the global stage, we must work together to make sure we are not casualties in any impeding trade war”, Akomolafe stressed.
