This week, the Federal Government of Nigeria is set to inaugurate the Standard Trade Development Facility (STDF), an initiative supported by the World Trade Organization (WTO), designed to enhance market access for Nigerian agricultural products into the European Union (EU).
The launch of this initiative is the primary reason for the WTO’s visit to Nigeria, led by Dr. Ngozi Okonjo-Iweala, Director-General, who, along with her team, arrived in the country on Tuesday, as noted in a statement from the Ministry of Industry, Trade, and Investment.
Establishing the STDF in the country comes in response to the consistent rejections of Nigerian agricultural exports in the EU market.
The statement also detailed that Dr. Okonjo-Iweala, upon arriving in Abuja, underscored the purpose of her visit: to establish a strategic framework to support Nigeria’s economic diversification.
She emphasised the critical need to enhance the exportation of agricultural and health products, particularly given the country’s prevailing economic challenges.