Envoy estimates Nigeria-Egypt trade volume at $400million

Adoba Echono, Abuja.

The Nigerian and Egyptian flags

The Ambassador of the Arab Republic of Egypt to Nigeria, Ambassador Assem Hanafi Elseify, says that the volume of trade between Nigeria and Egypt is about four hundred million dollars ($400,000,000).

The Ambassador disclosed this in Abuja, Nigeria’s capital, on the occasion of Egypt’s National Day.

(Egypt National Day is marked on the 23rd of July of every year and this year marks the 67th anniversary of the 1952 Revolution).

He expressed optimism that the trade volume with Nigeria will increase with the signing of the African Continental Free Trade Area Agreement, AfCFTA by the Nigerian government.

Ambassador Elseify also expressed optimism of the conclusion of the legal process towards the establishment of the Nigerian-Egyptian Business Council to help in expanding the promising trade and investment ties between both countries:

“There is room for enhancing the Economic ties to meet sustainable development needs and aspirations of two Africa’s biggest populations and promising markets.

“There are several important Egyptian investments and partnerships, the Arab Contractors Nigeria, Egypt Air which flies to three destinations in Nigeria, and Mansour Group, which has a number of projects including Mantrac Group.” 

Ambassador Elseify noted that relations between Nigeria and Egypt have always been excellent covering important fields like education and medical care.

He also said Egypt and Nigeria will continue to expand military and security co-operation to address the challenges of terrorism, organized crime and spill overs from regional conflicts.

On his part, the Permanent Secretary, Nigerian Ministry of Foreign Affairs, Ambassador Mustapha Sulaiman, said Nigeria and Egypt have signed agreements and are partnering in the areas of education, culture, science and technology.

Amaka E. Nliam