Business Hilights

Tracking Nigeria's Headline Business News Online


FG, Vietnam concluding deal to increased rice exportation to Nigeria

Ad 2
Ad 3

In what may be described as a smart way of running away from countries with some trending matters on the originality of their rice production, the federal government is about to conclude arrangements with Vietnamese government to buy their rice.

Statistics show that the Vietnamese government had already signed such rice supply MoUs with the Philippines and many African countries.

The Vietnamese government official said that he led a delegation of 18 Vietnamese companies to Lagos for the companies to study the Nigerian market and interact with the Nigerian business community.

This was revealed by the Deputy Director-General at the Vietnam Ministry of Industry and Trade, Mr. Ngo Hoan, on Monday while speaking on the sidelines of a Vietnam/Nigeria Business Forum in Lagos.

Ngo, said that more Vietnamese companies were becoming interested in Nigeria’s big market for their products and added that “The Vietnamese government is currently working on improving the legal framework for strengthening business cooperation between Nigeria and Vietnam.

 “More importantly, we are currently working on the possibility of signing a Memorandum of Understanding with Nigeria on rice trade into the Nigerian markets.

“If this MoU is signed, Vietnam hopes to become the stable supplier of rice at reasonable prices to Nigerians.”


Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.