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Trade sector contributed 10.8m jobs to Nigerians in 2017 ―Minister

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The Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, has stated that the trade sector contributed over 10.8 million jobs to Nigerians by the third quarter of 2017.

Speaking at the launch of  Nigeria Annual Trade Policy Report (NATPOR) on Tuesday in Abuja, Enelamah said statistics indicate that trade activities (import and export) in the sector employed over 14 per cent of the Nigerian workforce, an equivalent of 10.8 million people.

He also revealed that the sector contributed 18 per cent to the nation’s Gross Domestic Product (GDP) in the third quarter of 2017.

The Minister said the overall value of Nigerian trade between 2014 and 2015 decreased by approximately 7.4 billion (from about 23.7 billion in 2014 to 16.3 billion in 2015).

“In terms of percentage, this is a decrease of about 18.5% in trade value between 2014 and 2015. The decrease in 2015 reflected the recession in economic activities due to the sharp decline in oil receipts.

“There was a slight increase in 2016.  Stronger more positive performance is expected with Q4 figure in 2017,” he said. —Nigerian Tribune.

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