In order to combat Poverty and Insecurity worldwide, Israel is willing to work with Nigeria’s public and business sectors, according to Israeli Ambassador to Nigeria Michael Freeman. At the Annual General Meeting of the Nigeria-Israel Business Forum in Abuja, Freeman spoke on behalf of Israel through Inbar Lipman Garden, Consul of Israel in Nigeria. He urged participants to take advantage of the day’s presentations to further Trade links between the two nations, stressing the potential for mutual economic and corporate gains from such collaborations.
Nigeria and Israel have a long relationship that began in the early 1960s, soon after Nigeria attained independence. When Nigeria joined other African countries in sympathy with Arab countries during the Yom Kippur War in 1973, diplomatic relations between the two countries were cut. The two countries had established diplomatic relations in 1960. Since the early 1990s, when relations were re-established, both countries have steadily extended their collaboration, especially in the areas of technology, security, and agriculture.
Basra deal made it simpler for Nigerians & Israelis to conduct business.
Agatha Afokelu, Nigeria’s ambassador to Tel-Aviv, practically spoke at the group, stressing the value of the partnership and encouraging Nigerians to think about exporting goods to Israel. Afokelu greeted Israelis to Nigeria and emphasized the possibility that Israel’s willingness to collaborate on economic projects presents. She commented, “This partnership opens new avenues for Nigerian entrepreneurs to access Israeli markets, known for their high-tech industry and agricultural advancements.” The forum’s president, PatGrace Owusi, highlighted the contribution of the forum to the growth of both countries’ economies.
He emphasized the benefits of the Basra deal, which made it simpler for Nigerians and Israelis to travel and conduct business. Comparing the two nations’ relationship to that of fish and water, Owusi emphasized the interdependence of both. Since its founding more than ten years ago, the Nigeria-Israel Business Forum has been essential to the development of the two countries’ economic relations. The forum promotes partnerships in a range of industries, including technology, security, and agriculture, by providing a forum for discussion, trade, and Investment opportunities.
Trade between Nigeria and Israel was $200 million in 2022.
More so, Israeli Technology has already improved Nigerian Agriculture through creative Irrigation methods, greatly increasing crop yields and boosting food security. The Nigerian Bureau of Statistics reports that trade between Nigeria and Israel was $200 million in 2022. Given improved cooperation, it is anticipated that this amount might double by 2025. A number of businesses have been established as a result of Israeli investments in Nigeria’s IT sector, which has stimulated Innovation and created jobs. One noteworthy success story is the collaboration between Nigerian farmers and Israeli company Netafim, which installed effective irrigation systems and increased Agricultural Productivity in participating regions by 40%.
Joint partnerships in Renewable Energy projects are among the specific initiatives originating from the event, with the goal of addressing Nigeria’s Electricity problems and promoting Sustainable Energy alternatives. Furthermore, there exist endeavours to augment cybersecurity protocols in Nigeria, capitalizing on Israel’s proficiencies in this domain to counteract escalating cyber hazards. These collaborations have an effect on nearby communities as well, since better farming methods have raised Farmer earnings and contributed to food security. Nigerian companies have enhanced the local market in Israel by bringing fresh cultural and gastronomic experiences.
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According to PatGrace Owusi, “Our collaborative efforts are not just about business; they are about building bridges between our peoples, enhancing lives, and securing a prosperous future for both nations.” The Nigeria-Israel Business Forum is still a driving force behind economic growth, promoting an alliance that benefits both countries and plays to their respective advantages. The significance of this partnership in attaining Sustainable Development and economic prosperity for Israel and Nigeria is highlighted by the accomplishments of previous collaborations as well as the potential projects in the works.