By Muhammad Mamman
Nigeria has doubled down on its mission to turbocharge economic and diplomatic relations with Egypt, aiming to unlock the full potential of their historic alliance, forged in 1961 and rooted in a shared vision for African unity.
At the electrifying Nigeria-Egypt Business Forum in Abuja on Monday, Foreign Affairs Minister Ambassador Yusuf Tuggar called for a bold new chapter in the partnership. Despite deep ties, trade between the two nations remains underwhelming, clocking in at a mere $211.2 million in 2023, with Nigeria’s exports a paltry $12.2 million.
Tuggar threw down the gauntlet, urging both countries to smash trade barriers and chase the Developing-8 group’s ambitious target of $500 billion in intra-bloc trade by 2030. He spotlighted sizzling opportunities in agriculture, solid minerals, ICT, renewable energy, aviation, pharmaceuticals, tourism, leather, and fashion as key areas for collaboration.
“The private sector must seize the reins and drive deeper integration,” Tuggar declared. “This forum isn’t just a meeting—it’s a launchpad for game-changing partnerships, joint ventures, and tech exchanges. As Africans bound by history and destiny, the time to act is now!”
Egypt’s Foreign Minister, Dr. Badr Abdelatty, matched Nigeria’s enthusiasm, noting a jump in trade from $187 million in 2023 to a healthier $315 million in 2024. Yet, he insisted this was just a fraction of the economic firepower the two nations could unleash. Citing Nigeria’s $160 million LNG exports to Egypt in 2023, he called for a broader, more diverse trade portfolio, turbocharged by the African Continental Free Trade Area (AfCFTA).
Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite, added fuel to the fire, touting President Bola Tinubu’s business-friendly reforms to make Nigeria a magnet for investment. From fiscal tweaks to regulatory overhauls, she signalled Nigeria’s readiness to roll out the red carpet for Egyptian investors.
Meanwhile, Muhammed Lere, President of the Nigeria-Egypt Business Council (NEBC), pledged to turn the forum’s bold ideas into reality. He urged businesses to stick to official channels to dodge legal pitfalls and maximise opportunities.
With both nations fired up, the stage is set for Nigeria and Egypt to transform their historic bond into a dynamic, trade-driven powerhouse.
