Spain imported products valued at N1.38trillion(4 billion Euros) from Nigeria in 2015, the Economic and Commercial Counsellor at the Embassy of Spain in Nigeria, Mr Pablo Segrelles, said on Tuesday, August 30.
The Envoy, however, said this year’s economic situation in Nigeria would take a massive toll on his country’s importation of oil, gas and other products from Nigeria.
He said:“Until this year, the volume of trade between Nigeria and Spain was much larger than most people are aware of. “In 2015, Spain imported more than 4 billion Euros worth of products from Nigeria. But, this would be less this year because of the fall in prices of oil and the current economic situation.
“Even at this time of the year, Spain has not imported up to 300 million Euros worth of products from Nigeria,’’ he told the News Agency of Nigeria (NAN) in Lagos.
According to him, Nigeria’s current economic situation is really unfavorable for trade and business transactions between the two countries.
Segrelles also said more Spanish companies that had indicated trade and investment interest in Nigeria were being discouraged by the current challenge of foreign exchange.
He also expressed optimism that there was the tendency for more Spanish companies to engage in long-term trade and investment with Nigeria, for the future.Nigeria established diplomatic relations with Spain in 1960
