Obasanjo, Others Call for Strong Economic Ties Between Nigeria, Angola

Former President Olusegun Obasanjo has called for increased bilateral relations between Nigeria and Angola.

Obasanjo made the call at the Angola-Nigeria DiplomaticBusiness Investment meeting on Saturday in Lagos.

Obasanjo, who was a special guest of honour at the event, said the meeting focused on the potential for enhanced collaboration between the two countries.

According to him, the meeting also emphasises the need to boost trade volume within Africa, which reflects a commitment to advancing economic partnerships on the continent.

Obasanjo advised that attention should be on African countries’ benefits from their own products, as it aligns to promote intraAfrican trade and economic self-sufficiency.

He expressed concerns about infrastructural deficits, particularly in transportation and highlighted the challenges that needed to be addressed to facilitate seamless trade between nations.

“We are still battling with the high deficit in transportation.

For instance, moving goods from two countries; Congo DR and Congo Brazzaville is still a problem. We need to solve this challenge of moving goods around.

“One of the things the leaders of the post-independence achieved is to promote the African Continental Free Trade Agreement (AFCFTA),” he said.

Also, the Secretary, the National Action Committee of AFCFTA, Nigeria, Mr Olusegun Awolowo, said the lack of Foreign Direct Investment (FDI) between Nigeria and Angola underscored the untapped potential for economic engagement between the two largest oil exporters in Africa.

“Sadly, there is no Foreign Direct Investment (FDI) between Nigeria and Angola. This means trade between the two biggest oil exporters is zero, and this is not good enough.

“Angola is importing from the rest of the world what it can actually get from Nigeria and Nigeria doing likewise, we should trade between ourselves.