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Xenophobia: $60bn bilateral trade under threat - TheCityPulseNews.com
Failure of Nigeria and South Africa governments to curtail xenophobic attacks which escalated in both countries last week, is now threatening a bilateral trade relationship officially put at $60 billion. This is aside the yet-to-be quantified loss in reprisal on various South African brands in Nigeria, even as other African nations joined the fray to protest South Africa’s alleged tacit support for the arsonists. Consul-General of South Africa High Commission, Mr. Darkey Africa, said the bilateral trade and other diplomatic ties between both nations, which are currently strained, should not be allowed to snap because of the potential devastating effects on both economies. Already, about 1,000 people have reportedly taken refuge in halls set up for foreigners displaced by xenophobic violence in the Johannesburg region, even as the Federal Government ordered the evacuation of Nigerians willing to return home. Foreign trade figures from the National Bureau of Statistics show that in the first quarter of 2019, South Africa was one of Nigeria’s top five export destinations, having received goods valued at N325.5 billion or 7.2 per cent from Nigeria within the period. An international relations professional working for the Federal Government, who declined to be named revealed that the latest …