Pablo Segrelles, economic and commercial counsellor at the embassy of Spain has lamented that Nigeria’s current economic situation is really unfavourable for trade and business transactions between the two countries.
He said Spanish companies that had indicated trade and investment interests in Nigeria were being discouraged by the current challenge of Nigeria’s foreign exchange policy.
Segrelles, while speaking in Lagos on Tuesday, said this year’s economic situation in Nigeria would adversely affect his country’s importation of oil, gas and other products from Nigeria.
“Until this year, the volume of trade between Nigeria and Spain was much larger than most people are aware of,” he said
“In 2015, Spain imported more than €4 billion worth of products from Nigeria. But this would be less this year because of the fall in prices of oil and the current economic situation.
“Even at this time of the year, Spain has not imported up to €300million worth of products from Nigeria.”