​Nigerian Delegation Visits Chamber of Commerce and Industry of Serbia – Serbia as a Model of Good Practice

The Chamber of Commerce and Industry of Serbia (CCIS) welcomed a delegation from Nigeria’s National Institute for Security Studies (NISS), visiting Serbia to explore its economic potential and business environment.

The delegation was received by Mihailo Vesović, Deputy President of CCIS, who emphasized the importance of strengthening economic cooperation between Serbia and Nigeria, Africa’s largest economy.

Discussions focused on collaboration opportunities in key sectors including energy, information technologies, and mechanical engineering.

Although Nigeria’s economy remains heavily reliant on oil exports, accounting for 90% of its exports and about 60% of budget revenues, the country is pursuing economic diversification. Efforts are focused on agriculture, FinTech, manufacturing, and telecommunications.

As part of a global benchmarking initiative, Nigeria selected 19 countries to serve as case studies for its diversification strategy. Serbia was recognized for its strong macroeconomic management, investment growth, and economic performance.

According to Serbia’s Statistical Office, bilateral trade between Serbia and Nigeria reached $22.3 million in 2024, with Serbian exports accounting for $21.5 million. In Q1 2025, trade volume tripled compared to the same period last year, reaching $4.8 million, driven primarily by a surge in Serbian exports.