Nigeria: Dubai Expo - Govt Eyes U.S.$23 Billion, Establishes Trade Office

21 June 2021

Abuja — The federal government has said it expects to generate about $23 billion from the participation of Nigerian enterprises at the Dubai Expo 2020, which is slated to hold from October 1, 2021 to March 31, 2022, in the United Arab Emirates (UAE).

The Minister of State for Industry, Trade and Investment, Mrs. Maryam Katagum, said the event with theme: "Connecting Minds, Creating the World," will afford the country an opportunity to showcase the abundant natural and human resources available in the 36 States of the Federation and the Federal Capital Territory (FCT).

Katagum, at a briefing on the forthcoming exhibition, said critical sectors of the Nigerian economy particularly agriculture, manufacturing, creative industry, culture and youthful generation would be showcased to the world to tap into abundant opportunities available and to benefit from the expo.

This is as the UAE Ambassador to Nigeria, Fahad Taffaq, has said bilateral trade between Nigeria and the UAE currently stood at about $1.45 billion as at 2019.

The minister said the expo would assist government's current drive to diversify the economy.

She noted that Nigeria is one of several countries which have benefited from the generosity of the UAE government by providing the country with a $2 million assisted pavilion.

She explained that the journey to Dubai EXPO 2020 started in 2013 when the Bureau of International Exhibitions (BIE) conferred the Hosting Right to the city of Dubai, UAE holding initially in 2020, adding however, that due to the COVID-19 pandemic, the expo had now been rescheduled.

Katagum said: "The Expo aims to connect and inspire millions of people from around the world to create a better future.

"It is also a platform for the world to showcase innovation, achievements and aspirations while exploring the three sub-themes: Opportunity, Mobility and Sustainability.

"I am certain that the event would be a huge success and Nigeria would derive immense benefit from our participation."

The Director, Commodity and Export Department in the ministry, Mr. Suleman Audu said about $23 billion is. Expected to be raised from the country's participation.

He added that approval had been given by the federal government to create trade office in Dubai to boost collaboration between both countries.

More From: This Day

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X