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Buhari Woos Portuguese Investors

President Muhammadu Buhari has urged the Portuguese government and business community in the country to increase their trade volume into the country, especially in the non-oil sector.

Gatekeepers News reports that Buhari made the call while speaking at an economic seminar between Nigeria and Portugal businesses yesterday in Lisbon, where he is on a state visit.

This was disclosed in a statement by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu.

He noted that the two countries are in dire need of new investment opportunities following the devastation on global economies caused by the COVID-19 pandemic and, in recent times, the impact of Russia-Ukraine conflict.

Buhari added that the contemporary Nigeria/Portugal diplomatic bond had lasted for more than 40 years.

He also noted that the two countries still possess the power to sustain a bond that would guarantee their mutual prosperity and greatness for another 500 years.

Buhari said: “The relationship between modern Nigeria and Portugal started over 40 years ago with strong collaborations on the diplomatic and defence fronts.

”I was very excited to learn of the increased level of enthusiasm Portuguese businesses have shown towards Nigeria.

”In the past 25 years, trade between Nigeria and Portugal has more than doubled to over $1 billion by 2020 just before the COVID-19 pandemic.

“This has been mostly in the oil and gas sector. Although this is great progress, I strongly believe we can and should do a lot more.

”The Portuguese were the first European voyagers on record to visit the shores of Nigeria in the late fifteenth century. And just like how African culture is influential in modern Portugal, the Portuguese culture is also felt in today’s Nigeria.”

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