..... Joint Commission, Strategic Partnerships to Bolster Trade, Investment
In a bid to deepen bilateral trade and economic relations, more than 30 Chief Executive Officers (CEOs) from leading Egyptian companies are currently in Nigeria to explore investment opportunities across key sectors, including agriculture, energy, pharmaceuticals, and mineral resources.
The high-powered delegation is led by Egypt’s Minister of Foreign Affairs, Immigration and Expatriates, Badr Abdel Aaty, who met with Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, on Monday in Abuja. Both countries have expressed strong political will and commitment to elevating their economic partnership to a more strategic level.
Speaking during the meeting, Minister Abdel Aaty emphasized Egypt’s readiness to pursue mutually beneficial business ventures in Nigeria.
“We have more than 30 giant companies in Egypt across various sectors—agriculture, pharmaceuticals, industry, energy, minerals, oil, and gas,” he said. “They are here because there are a lot of opportunities and a conducive environment for investment. We are committed to doing business here based on a win-win model.”
The minister lamented the current low trade volume between Nigeria and Egypt, calling it disproportionate to the economic potential of both nations.
“The current trade volume does not correspond with the weight of these two African giants,” Abdel Aaty said. “We must double or even triple the trade volume to reflect our actual capacity and potential. We have the political will from both sides to make this happen.”
He also revealed that the visit to Nigeria marks the beginning of a broader African tour, underscoring Nigeria’s strategic importance as a gateway to the continent.
Ambassador Tuggar reaffirmed Nigeria’s enthusiasm for increased cooperation, highlighting the vast areas for collaboration between the two nations.
“There are many sectors where Egypt and Nigeria can work together—particularly in energy, gas, minerals, and agriculture,” he said. “Some Egyptian companies are already present in Nigeria, especially in the power and energy sectors.”
Tuggar also noted Egypt’s successful efforts in land reclamation and agriculture, stating that Egyptian firms are keen to replicate similar projects in Nigeria. He confirmed that the delegation will participate in the upcoming Jigawa State Business Forum.
To accelerate implementation of joint initiatives, both countries have agreed to establish a Nigeria-Egypt Joint Commission. According to Tuggar, this commission will oversee and coordinate all collaborative efforts, including the existing chamber of commerce and future trade missions.
“We believe that subsuming all these initiatives under the Joint Commission will help us move faster and more effectively,” he stated.
The renewed engagement follows earlier discussions between the leaders of both countries during the G20 Summit in Rio de Janeiro, where they agreed to elevate bilateral relations to a comprehensive and strategic partnership.
As Africa’s most populous country and largest economy, Nigeria’s partnership with Egypt—another continental powerhouse—is expected to set the tone for broader regional cooperation and economic integration.