Kenya wants increased oil supply from Nigeria

Dec 21, 2003 01:00 AM

The Kenyan government is canvassing for an increased oil supply from the Federal Government from the present 30,000 bpd of oil to 50,000 bpd. The Kenyan High Commissioner to Nigeria, David Mutemi who disclosed this during the occasion of Kenyan Day held in Lagos said that already, bilateral trade talks were held over the issue between the Federal Government and the Kenyan President, Mwai Kibaki during the just concluded Commonwealth Heads of Government Meeting (CHOGM) held in Abuja..
He said: "We expect to get it. It is being considered. We have a deep trade relations with Nigeria which has continued for many years. The two countries have two bilateral trade agreements in both air management and crude oil."

In a bid to increase trade relations between the two countries, he said that earlier, a business talk which brought together business entrepreneurs from both countries to Nairobi, were held to discuss ways and means to improve bilateral trade of the two countries.
"Already, we have initiated a formation of Nigerian/Kenyan Chamber of Commerce to increase trade volume. The trade talks brought together Nigerian and Kenyan Export Promotion Council and a memorandum was signed on ways to improve trade relations between the two countries." National Maritime, Shippers Council, DHL Nigeria and Unilever, among others, he said, were among industry stakeholders that attended the trade talks held in Nairobi, Kenya.

In the year ahead, according to him, the two countries expect to document trade volume which will enhance trade relations between the two countries with the following strategies: annual business conferences; formation of Nigerian/Kenyan business council from the two chambers of commerce; challenging the two governments to give it ways and means of strengthening trade relations, among others.
It will be recalled that Nigeria traded worldwide with about 100 countries, but the composition of trade by country had changed since the colonial period. During the colonial era, Britain was Nigeria's dominant trading partner. As late as 1955, 70 % of Nigeria's exports were to Britain and 47 % of its imports were from Britain. However, by 1976 Britain's share of Nigerian exports and imports dropped to 38 % and 32 % respectively. In the 1970s, Britain was replaced by the United States as Nigeria's chief trading partner.

In 1988, the United States was Nigeria's best customer, buying more than 36 % of its exports (primarily petroleum products); Britain was Nigeria's leading vendor, selling the nation more than 14 % of its imports.
In 1990, Nigeria had associate status, including some export preferences, with the European Economic Community (EEC).

Source: Vanguard
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