By Friday Idachaba, Lokoja

As Nigeria tries to reduce its dependence on oil and diversify revenue sources, African Center for Asia Plus Bangladesh Studies (AfCA +BS) has called on both countries to take full advantage of their potentials.

Mr Roberts Achanya (Bob), Director-General, AfCA+BS, made the call while speaking with newsmen on Sunday in Lokoja.

The DG said he was making the call in collaboration with the Nigeria Bangladesh Business and Technology Forum (NBBTF), also an accredited trade group.

Achanya said that the Nigeria Bangladesh relations study as undertaken by the AfCA+BS in 2022, generally summarized that Nigeria and Bangladesh could facilitate better and expanded bilateral trade and investments.

This, according to him, could be in “Continuous high level engagement by the governments, private sector and researchers; mutual respect and reciprocity, articulating goals and weaknesses, and practical business-to-business networking.

He said that the study indicated progressive growth in such areas as pharmaceuticals/health, finished Clothing, Textiles and Garments (CTG), ceramics, iron mongering, electricals, education, in favour of Bangladesh.

“Nigeria needs to take advantage of the concentric diversification initiative of the current NDP (2021-2025), to scale up export to Bangladesh in sectors of comparative advantage.

“As at 2012, trade between the two countries stood at US$14 million in 2012 while in 2014, the Bangladesh Tariff Commission prepared a feasibility study for the benefit of signing new Free/Preferential trade agreements with African states.