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Nigeria and Angola Seek to Strengthen Trade Ties

Nigeria and Angola Seek to Strengthen Trade Ties

As Africa continues its efforts to enhance intra-Africa trade, the imperative of addressing trade barriers and streamlining visa processes has been underscored to facilitate smoother trade relations between Nigeria and Angola.

Mrs. Fifi Ejindu, the President of the Angola-Nigeria Business Council, emphasised this during the Angola-Nigeria Diplomatic-Business Investment meeting in Lagos, South West Nigeria. She highlighted the importance of active and creative economic and commercial relations between the two nations for mutual progress.

The country’s former Minister of Finance, Dr. Armando Manuel, expressed optimism about the positive outcome of the recent diplomatic-business investment meeting, citing the fruitful discussions and the potential for tangible outcomes in the near future. He invited Nigerian investors to explore opportunities in various sectors in Angola, particularly pharmaceuticals, agriculture, and addressing concerns about food security.

Former President Olusegun Obasanjo, a special guest of honour at the event, called for strong economic ties between Nigeria and Angola. He emphasised the need to boost trade volumes within Africa and addressed infrastructure deficits, particularly in transportation, that need to be addressed for seamless trade between nations.

Mr. Olusegun Awolowo, the Secretary of the National Action Committee of AFCFTA, Nigeria, highlighted the lack of Foreign Direct Investment (FDI) between the two countries, pointing out the untapped potential for economic engagement between the largest oil exporters in Africa. He stressed the importance of trading between themselves, addressing infrastructural deficits, and encouraging collaboration in various sectors.

The meeting, organised in collaboration with the Angola-Nigeria Business Council, aimed to promote commercial cooperation and establish sustainable foundations for strengthening economic ties between the two nations.

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