Obasanjo Advocates Coastal Trade to Check Economic Recession

Former President Olusegun Obasanjo yesterday urged the Federal Government to establish a viable coastal trade links with other Africa countries as a remedy to the economy recession.

Obasanjo, who spoke when members of the National Council of Trade, Investment and Industry (NCTII) visited him at his Abeokuta Hilltop residence in Ogun State, said he was confident that “vigorous trade between Nigeria and the rest of the world particularly African nations would improve the nation’s economy.”

The delegation included the Minister of Trade and Investment, Okechukwu Enelamah, Minister of State for Trade and Investment, Aisha Abubakar, Senator Sam Egwu and the Secretary to the Ogun State Government (SSG), Mr. Taiwo Adeoluwa.

NCTII has scheduled its eighth national council meeting for Abeokuta, the state capital.

Vice-President, Prof. Yemi Osinbajo is the NCTII chairman.

Speaking on the urgent need for Nigeria to improve its trade relationship with other African countries, Obasanjo lamented that the volume of trade among other nations on the continent was poor, stressing that the time had come for the nation to explore the items she could market to other nations.

Obasanjo cited Germany and France, Europe and America, Britain and France as examples of countries producing similar items yet engage in viable trade among themselves.

His words: “We need increase our intra and inter-trade. See countries like Angola, items like noodles are highly needed there for children but no means of conveying it there?

“Airlifting things like this is not an option because of the cost. So, let the council at its meeting in Ogun become a channel to bring out what we can do to make it easy for us to trade with the rest of Africa.”