WTO Won’t Harm Nigeria’s Economic Diversification, Okonjo-Iweala Tells Buhari

The Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, has allayed fears that embracing the free trade policy of the world body would harm Nigeria’s economic diversification drive.

Fielding questions after a meeting with President Muhammadu Buhari at the presidential villa, Abuja on Monday, she affirmed that special and differential treatment could be applied to prevent vulnerable countries from collapsing under completion.

The former Nigerian Minister of Finance and Coordinating Minister for the Economy also said duties could be applied on imports to prevent the country from being a dumping ground.

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According to her, there is a unique opportunity for the country to improve its standing in trade and add value to its products especially agriculture.

While noting that Nigeria’s shea butter was denied access to the United States and European markets because of poor quality, she said the country could “trade more, export more and add value to its products.”