By Ayo Akinfe
What Nigeria’s international trade policy should be in response to the current Russia-Ukraine conflict
[1] Nigeria currently supplies the European Union [EU] with 14% of its gas requirements. We plan to increase this to 50% by 2023 and 75% by 2024
[2] A fresh gas pipeline will be built linking the Bonny liquified natural gas terminal with London. It must be completed by January 2023
[3] Nigerian maize output will be increased to 25m tonnes in 2023 from the current 11.6m tonnes. By the end of 2024, the output will be expanded to 40m tonnes to enable Nigeria to take over from Ukraine as the world’s fifth largest producer
[4] Nigeria’s millet crop will be increased to 10m tonnes by 2024 from the current 5m tonnes
[5] Nigeria’s sorghum crop will increase to 10m tonnes by 2023 from the current 7m tonnes
[6] Nigeria’s cassava crop will be increased to 65m tonnes by 2024 from the current 47.4m tonnes
[7] Gas companies who come to open plants in Nigeria employing at least 500 local staff will be given 10-year tax holidays
[8] Cereal companies like Kellogg, Quaker Oats, Nestle, etc who open factories in Nigeria employing at least 500 local staff will be given five-year tax holidays
[9] Animal feed compounders who open processing plants in Nigeria employing at least 500 local staff will be given a five-year tax holiday
[10] International breweries who come to open plants in Nigeria using our raw materials and employing up to 500 staff will also be given five-year tax holidays
