Nigeria-Bulgaria Trade Volume Surges in Early 2024, Records 122% Growth
Nigeria and Bulgaria have seen a significant rise in bilateral trade within the first five months of 2024, according to Yanko Yordanov, Bulgaria’s Ambassador to Nigeria. Bulgaria’s exports to Nigeria increased by 122%, while imports from Nigeria surged by 188%, compared to the same period in 2023.
Yordanov shared these figures during the annual InvestNigeria forum, hosted by the Lagos Chamber of Commerce and Industry. He noted that Bulgaria continues to maintain a trade surplus, reflecting the steady growth in economic relations between the two countries.
The forum, a major business event in Nigeria, was attended by prominent figures including Lagos State Governor Babajide Sanwo-Olu and the Minister of Marine and Blue Economy, Adegboyega Oyetola. Diplomats from Belgium, Germany, Ireland, Israel, India, Kenya, and Bangladesh were also present.
The Bulgarian Embassy highlighted on its Facebook page that the first Bulgaria-Nigeria Business Forum in decades, held in Sofia in 2023, played a key role in boosting trade. Yordanov also pointed out Bulgaria’s development assistance, particularly in supporting Nigeria’s local vaccine production and other healthcare initiatives.
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