‘Nigeria’s non-oil exports to US dropping’

‘Nigeria’s non-oil exports to US  dropping’

Nigeria’s non-oil export to the America has continued to drop, the Economic Counselor at the United States Embassy in Nigeria, Perry Ball, has said.

According to Ball, available statistics has shown that Nigeria’s total non- oil exports to US in 2011 stood at 0.45% while oil exports totaled 99.55% in 2011.

Ball made this disclosure during a monthly press briefing, which focused on the benefits of the African Growth and Opportunity Act (AGOA)

According to him, a total of 6,400 products go to the United States through it trade partnership with AGOA.

He also said that Nigeria exported products, mainly oil worth $33.7 billion to the United States in 2011, while South Africa exported about $9.5 billion worth of products mainly from precious stones, vehicles and parts, metals, oil and steel, products, despite Nigeria’s overwhelming potential in these areas.

“The purpose of AGOA was to set more reforms in Africa and to encourage free trade among the various countries of sub-Saharan Africa,” he said.

He insisted that Nigeria must get its power supply right, to attain her industrial potentials, which in turn, ensure a better living for her citizens.