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Outgoing CAC Board Chairman Outlines Strategies To Improve Nigeria’s Trade Relations With Spain

Babajide Iletogun

The newly appointed Ambassador of Nigeria to Spain, Chief Ademola Seriki has outlined steps that would be taken by him to boost the country’s trade relations with Spain.

Seriki was until his appointment as Nigeria’s Ambassador to the Kingdom of Spain by President Muhammadu Buhari, the Chairman of the Governing Board of the Corporate Affairs Commission.

Speaking during an interview with journalists at the sidelines of a dinner held in his honour by the CAC, he said that one of the first things that would be done under his leadership would be to work with the Ministry of Justice and Nigeria’s Ministry of Industry Trade and Investment to look at areas that Nigeria can harness in boosting the level of trade between both countries.

He also said that a team would be set up to monitor the implementation of trade treaties between both countries, adding that one of the challenges that Nigeria has in international bilateral relations is the area of implementation.

Oil accounts for 76.2 per cent of Nigeria’s Spanish imports and Natural Gas another 22 per cent.

However, in some sectors, the Spanish market share is high, such as ceramic products (21.2 per cent), beverages (12.5 per cent), mechanical devices (6.9 per cent) or coloring materials and paint (5.5 per cent).

Seriki said, “We have to seat down, work with the Spanish government, Ministry of Justice and the Ministry of Trade in particular.

“The problem in Nigeria is that we don’t have people who will be in charge of implementation and we will have desk officers that would be assigned specific responsibilities to ensure the realisation of trade agreements without procrastination.”

Seriki said since January last year that he was appointed Board Chairman of CAC, the commission has been able to implement reforms that had made it easier for people to register their companies from the comfort of their home.

Also speaking at the event, the Minister of Industry, Trade and Investment, Adeniyi Adebayo described the outgoing Chairman as the man who has what it takes to achieve the task given by the President.

 He described the relationship between Seriki and the management of CAC as one that is worthy of emulation.

On her part, the Minister of State, Industry Trade and Investment Mariam Katagum told the Ambassador that there is a lot of work to be done in Spain because of the its proximity to countries such as France and Portugal among others.

“The President has put a lot of confidence in you and you need to ensure that you perform tn assignment given to you very well.

“You are going to Spain to make a difference, dont just focus in the area of trade and bilateral relations, but also look out for Nigerians that are living in that country because we have a lot of them there,” she added.

The Registrar-General of the CAC, Alh Garba Abubakar said the management of the commission has enjoyed tremendous support from the experience of the outgoing Chairman.

He said with the reforms currently going on at CAC under the guidance of the outgoing Board Chairman, the Commission would be the greatest loser from his appointment as Ambassador.

He said since January, the Commission has made company registration easy, adding that this would help improve Nigeria’s rating in the ease of doing business.

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