site.btaTrade between Bulgaria and Nigeria Surges in First Months of 2024

In the first five months of 2024, Bulgaria's exports to Nigeria grew by 122% and imports from the largest West African economy to Bulgaria - by 188%, compared with the like period of 2023, sustaining a trade surplus for Bulgaria. These figures were presented by Bulgarian Ambassador to Abuja Yanko Yordanov, during the annual InvestNigeria forum, organized by the Lagos Chamber of Commerce and Industry, the Bulgarian Embassy in Abuja said on its official Facebook page.

The forum, which is one of Nigeria's biggest business events in 2024, was opened by Lagos State Governor Babajide Sanwo-Olu and the Minister of Marine and Blue Economy, Adegboyega Oyetola. Also in attendance were the ambassadors of Belgium, Germany, Ireland, Israel, India, Kenya and Bangladesh.

In his remarks, Ambassador Yordanov also highlighted that in 2023, Sofia hosted the first Bulgaria-Nigeria Business Forum in decades, organized jointly by the Bulgarian and Lagos Chambers of Commerce and Industry. It is since then that the significant increase in trade has started.

The diplomat also highlighted as an important factor in the bilateral partnership the development assistance provided by Bulgaria to build local Nigerian potential for the production of vaccines and other health products.