Nigeria, Egypt to Deepen Economic Ties with Joint Investment Council
The Federal Government of Nigeria has reaffirmed its commitment to fostering a deeper, more strategic economic partnership with the Arab Republic of Egypt.
This commitment was underscored by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who proposed the establishment of a Nigeria-Egypt Joint Investment Council during the Nigeria-Egypt Business Forum in Abuja on Monday.
The proposed council will serve as a dedicated platform to identify investment opportunities, mitigate risks, and align public and private sector efforts toward their shared economic growth.
This partnership is expected to unlock new frontiers of prosperity, drive sustainable economic growth, and enhance the ease of doing business between the two nations.
“We are blessed with vibrant populations, abundant natural resources, and an entrepreneurial spirit that positions us not as competitors, but as partners with a shared vision of resilient economies, inclusive growth, and sustainable development,” Edun stated.
Represented by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, the minister emphasized that Nigeria remains committed to strengthening bilateral ties with Egypt and unlocking new frontiers of prosperity through strategic dialogue, investment, and private sector collaboration.
The forum highlights Nigeria’s openness to business and its commitment to improving the macroeconomic environment and restoring investor confidence through significant fiscal, monetary, and regulatory reforms.
Egypt-Nigeria Comprehensive Partnership Will Bolster Africa’s Stability
Egyptian Foreign Minister, Dr Badr Atty, says a strategic partnership between Egypt and Nigeria will boost stability and prosperity across Africa. Atty made this known on Wednesday in Abuja while addressing journalists on key foreign policy issues and economic cooperation between the two countries.
He emphasised that strong collaboration between Egypt and Nigeria could yield significant progress, not just for both nations but for the entire continent. According to him, the partnership will contribute to the prosperity of Africa and support the implementation of Agenda 2063, the continent’s long-term development blueprint.
Atty said, “Both countries are members of several regional and international organisations, including BRICS, D-8, the African Union, the Organisation of Islamic Cooperation, the African Continental Free Trade Area, and the United Nations.
“I believe the two major countries can do more towards achieving sustainable peace, security and stability in Africa, as well as the whole world through shared vision for the reform of the Security Council.
“We cannot achieve development and sustainable development without tackling security issues in Africa, creating more jobs, addressing root causes of the problems, especially terrorism.
“This is a transboundary challenge which no country alone can face without cooperation with other countries.
“So, we share same views and work very hard through competent authorities in Egypt and in Nigeria.”
He said Egypt had more accumulated expertise that could be shared with Nigeria in bolstering fights against terrorism, while citing the country’s successful defeat of terrorism in Egypt.
This, according to him, could bring about strategic approach that can end issues about insecurity, especially with the entry into force of the Africa Continental Free Trade Agreement.
“I think that should have a very positive impact on trade volume between our two countries and the rest of the continent through joint efforts by three major powers in Africa.
“One in the north called Egypt, in the west called Nigeria and in the south called South Africa.
“So, we can work closely together to coordinate measures driven for the benefits, stability and prosperity of the African continent and the African people.
“We will achieve the objective of deepening our diplomatic cooperation. Such as we have an excellent political relationship between our two leaders, between our two great countries, between our two great nations and peoples.
“We need to translate that into a more robust business, economic and investment relationship with Nigeria and Egypt as two giant countries here in this continent.
“I believe that will unlock the existing opportunities, in order to do more in areas such as investment, trade, as well as economic relationship based on win-win situation.”
The minister led a delegation of important businesses representing giant Egyptian companies across different sectors such as construction, food security, agriculture, food processing, manufacturing, pharmaceutical products, mineral, oil and gas.
He reiterated that Egypt would further deepen trade cooperation between the companies and the Nigerian private sector in business council, to achieve the desired goals.
“We are ready, willing and able to engage. We have equally prepared our very important private sector counterparts to engage with them, as well as relevant government, ministries, departments and agencies.
“Of course, we have existing excellent cooperation in different sectors, in defence and security, in cultural relationship, in trade, investment and different sectors of mutual interest of the two countries,” the minister said.
He commended Nigeria for creating a conducive environment that had supported the implementation of President Bola Tinubu’s Renewed Hope Agenda.
He also conveyed President Abdel Fattah el-Sisi’s appreciation to Nigeria for endorsing Egypt’s Dr Khaled el-Anani, the African Union candidate, for the position of Director-General of UNESCO.
El-Anani, a former Egyptian Minister of Tourism and Antiquities, aims to represent the interests of Nigeria and all African countries in UNESCO’s three key focus areas
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