The Federal government
of Nigerian has launched
an economic recovery and
growth plan 2017-2020 to
rejuvenate its struggling
economy hit by recess as a
result of shrinking oil prices.
What new perspectives do
you think this will bring in
the Nigeria-Cameroon trade
exchanges?
Nigeria is one of the largest
economies in Africa and one
of the major trade partners
of Cameroon, second only
to France. Nigeria has a po-
pulation of above 180 million
inhabitants and shares about
2,000 km long border with Ca-
meroon. The recent oil prices
greatly affected Nigeria as its
economy highly depends on
crude oil exports. These ex-
ports represent 70% of public
revenue and 90% of foreign
reserves. The economic and
recovery plan launched by the
Nigerian Federal government
aims at diversifying the Nige-
rian economy so as to boost
economic growth and make the
economy resilient to commodity
price shocks. These reforms
entail the development of the
other sectors of the economy
so as to diversify their export
base. The way these policies
will affect trade between Nige-
ria and Cameroon depends on
which strategy Nigeria adopts:
If they intend to promote the
development of the goods
they import from Cameroon,
then Cameroonian exporters
to Nigeria would need to adopt
new strategies to remain in business e.g. by entering into
partnerships with Nigerian pro-
ducers. On the other hand, if
they concentrate on developing
the production of goods they
export to Cameroon, this will
profit Cameroonian consumers
as these goods will become
cheaper and they will enjoy
large consumer surpluses.
Also, since the ambitious
plan of Nigeria depends on
the availability of adequate
energy sources, Cameroon
stands to benefit by harnes-
sing its natural endowments
potential in the production of hydro-electricity so as to com-
pete for the supply of energy
to Nigeria.
How can you assess trade
relations between Came-
roon and Nigeria at the
moment?
In recent years, trade has never
been so blossom between Nigeria
and Cameroon. In 2012, Nigeria
went over France to become
the first trading partner of Ca-
meroon. Though since then, the
advent of the terrorist group
Boko Haram and other rebels
in the gulf region has greatly affected trade between the two
countries, the volume of trade
still remains very important.
Recent statistics show that in
2015, Cameroon exports to Ni-
geria represented 42.36 Million
US dollars and imports stood
at 731.74 Million US dollars.
Though Cameroon has a nega-
tive trade balance with Nigeria,
Nigeria remains a privileged
trade partner for Cameroon
and there is hope that with
the trade agreement signed
between the two countries in
2014 and the completion of the
tarring of the Bamenda-Enu-
gu 433 Km road, the volume
of transactions will increase
for the mutual benefit of both
countries.
How has the devaluation
of the Naira affected trade
links with Cameroon which
happens to be one of Nige-
ria’s major trade partners?
Devaluation means the voluntary
reduction of the price of one
currency in terms of another.
The recent devaluation of the
Naira by abandoning the fixed
exchange rate regime which
pegged the value of the Na...
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Commentaires
Die idee ist gar nicht schlecht. Nigeria und Kamerun haben immer viel gemeinsam in Zusammenhang mit trading gehabt. Kamerun hast viel Bodenschätze denen man in Afrika finden kann und davon hat Kamerun dir Name “L'Afrique En Miniature“ Mit die Resource von Kamerun und die Öl von Nigeria beide Lände können davon was haben. Daumen hoch.