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HomeLatestNigeria-Egypt Trade Volume Reaches $141 Million as NECSEF Launches Cairo Office

Nigeria-Egypt Trade Volume Reaches $141 Million as NECSEF Launches Cairo Office

Toba Owojaiye reporting
Abuja , Nigeria

The bilateral economic relationship between Nigeria and Egypt has reached a significant milestone, with the trade volume between the two nations hitting $141 million, according to the Nigerian Ambassador to Egypt, Nura Abba Rimi.

Truth Live News gathered that this announcement comes as the Nigeria-Egypt Cultural and Socio-Economic Forum (NECSEF) inaugurates its Cairo office, marking a pivotal moment in enhancing bilateral economic and business relations.

Scheduled to commence on Monday, October 10, 2022, the maiden edition of the Nigeria–Egypt Trade Conference and Exhibition (NETCE) in Cairo aims to bolster economic ties between the two countries. Organized jointly by NECSEF, the Embassy of Nigeria in Cairo, and the Egyptian African Businessmen’s Association (EABA), under the auspices of the Government of Egypt, the two-day conference will witness the participation of government ministers, governors, ambassadors, and over 300 delegates, visitors, and exhibitors.

Abdul-Razaq Saliu Musa, Executive Assistant to the President of NECSEF, highlighted that NETCE 2022 will facilitate Business-to-Business sessions, idea exchange, and exhibitions showcasing products and services from Nigerian and Egyptian companies. Additionally, an industrial tour on October 12 will provide Nigerian participants with insights into Egypt’s industrial environment and latest technology, aligning with the conference theme, “For Africa, By Africa,” which explores the African Continental Free Trade Area (AfCFTA).

President of NECSEF, Mahmood Ahmadu, expressed enthusiasm for the conference, emphasizing its potential to elevate trade between Nigeria and Egypt to unprecedented levels. Ahmadu further noted the inauguration of NECSEF’s corporate office in Cairo, which also houses Online Integrated Solutions (OIS), a multinational company catering to Nigerian Foreign missions and Diaspora.

Ambassador Nura Abba Rimi reaffirmed Nigeria’s commitment to enhancing bilateral trade with Egypt through reforms promoting transparency, efficiency, and economic diversification into sectors like agriculture, mining, and manufacturing. He emphasized the mutually beneficial nature of the relationship, given the high population growth rates and the economic prowess of both nations.

Distinguished speakers slated for the event include Ex Governor Nasir Ahmad El-Rufai of Kaduna State, Minister of State for Works and Housing Umar Ibrahim El-Yakub, Minister of Water Resources Suleiman Adamu, Minister of State for Industry, Trade, and Investment Amb. Mariam Katagum, and other eminent personalities representing various sectors.

With expectations high and a lineup of esteemed speakers, NETCE 2022 promises to be a catalyst for fostering robust economic ties between Nigeria and Egypt, leveraging the vast potential inherent in Africa’s two largest economies.

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