Nigeria’s yearly exports to South Africa now exceeded $3.8bn, the Consul General of Nigeria to South Africa, Abdulmalik Ahmed, said on Friday.
Ahmed disclosed this at a press conference in Johannesburg.
According to him, South Africa has been Nigeria’s biggest partner over the years, as South Africa also exported good valued at $4.9bn to Nigeria in 2018.
“South Africa is Nigeria’s biggest trading partner in Africa. Though dominated by oil, Nigeria’s export to South Africa is in excess of $3.8bn annually.
“This represents about 6.3 per cent of the country’s total exports. Similarly, South Africa exported goods of about $4.9bn in 2018 to Nigeria,” Ahmed said.
Speaking on the economic benefit of Air Peace’s inaugural flight from Lagos to South Africa, Ahmed noted that route launch would help improve foreign inflows, encourage investment and boost the African Continental Free Trade Area agreement.
“Nigeria provides a favourable business environment and large market for a wide range of South African companies including MTN, Multichoice, Shoprite, Protea Hotels and more.
“The Lagos- Johannesburg route was serviced by Air Arik and South African Airways but unfortunately, both airlines could not sustain operations on the routes. It is against this background that Air Peace is entering the market,” he added.
The envoy called upon Nigerians to establish more businesses in South Africa so as to quell xenophobic attacks.
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