Emmanuel Ochayi
At the inaugural Angola-Nigeria business forum held in Abuja, Angola expressed its reliance on Nigeria’s support for ongoing economic reforms.
Téte Antonio, the Angolan Minister of External Relations harped on the importance of this partnership, saying, “Angola counts on the support of friendly countries who are always on its side, and one of these is indisputably, Nigeria.”
Join our WhatsApp ChannelThe event, organized by the Angolan embassy in Nigeria, gathered industrialists from across Nigeria and highlighted the historical ties between the two nations, dating back to the signing of their first economic, technical, scientific, and cultural cooperation agreement in 1976. These relations have encompassed diplomatic, defense, security, petroleum, education, culture, and transportation sectors.
Between 2020 and 2022, trade between Angola and Nigeria saw Angola exporting goods worth $5.6 million to Nigeria while importing $16.8 million worth of goods from Nigeria, resulting in a trade deficit of about $11.2 million. The trade primarily consisted of mechanical machines and devices from Angola and machines, apparatus, plastics, rubbers, and other transport materials from Nigeria.
READ ALSO: Naira, Angolan Kwanza Worst Currencies In Sub Sahara Africa, Says World Bank
President Bola Tinubu’s administration in Nigeria is committed to strengthening mutual ties with Angola and other African countries. Mohammed Idris, the Minister of Information and National Orientation, highlighted these efforts and mentioned plans to sign a Memorandum of Understanding on Public Communication and Media Exchange with the Angolan Embassy in Nigeria.
The Angola Ambassador to Nigeria, Jose Zau, expressed optimism that the forum would bolster economic relations between Nigeria and Angola, promising a promising alliance to support Angola’s domestic and foreign aspirations.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
