The Minister of Foreign Affairs, Yusuf Tuggar, has praised the current bilateral collaboration between Nigeria and the Benin Republic as a significant achievement that is expected to elevate the region into a prominent commercial hub. A statement released by Alkasim Abdulkadir, the Special Assistant on Media and Communications Strategy to the Minister of Foreign Affairs, revealed this exciting progress. After a successful bilateral meeting at the Segbana customs border post in Benin Republic, the announcement was made. Tuggar led the strong Nigerian delegation during this meeting.
Part of the Nigerian delegates includes Dr. Nasir Kaura, who is the governor of Kebbi State; Bashir Adeniyi, the Comptroller-General of Customs; Dakorinama George, the Director-General of the Border Communities Development Agency; and Aliyu Mohammed, the Director of Home Finance representing the Minister of Finance. While Romuald Wadagni, the Minister of Economy and Finance in charge of cooperation, Shegun Bakari, the Minister of Foreign Affairs, and Adidjatou Zanouvi, the Director General of Customs, represented Benin in the meeting.
Peaceful relationships will be enhanced while resolving disputes.
At the meeting, Tuggar emphasised the significance of implementing the Kebbi-Segbana border to advance economic relations between the two nations, aligning with President Bola Tinubu’s commitment to strengthening ties. The initiative forms a crucial part of the government’s comprehensive 8-point plan to foster Economic Development and prosperity. Following the meeting, both parties agreed to form a working group to implement projects within various time frames, which include short, medium, and long-term. This decision came after the revival of the Nigeria-Benin Joint Commission, which was last held in 2014 in Cotonou.
Also, the renewal of the Permanent Joint Commission is set to strengthen current government actions aimed at improving economic ties between countries. Tuggar focused on resolving border disputes, including the return of 700 Nigerians residing in Segbana, Northern Benin Republic, in accordance with Nigeria’s 4 Ds foreign policy objectives. He stressed the importance of peaceful relationships between neighbouring countries and supported inclusive methods for resolving disputes between Nigerian and Beninese societies in order to achieve a lasting and stable resolution to border conflicts.
Economic growth and development will be fostered with collaboration.
Intensifying Trade ties between countries not only fosters Economic Growth and development but also presents opportunities for mutual benefit and prosperity. Increased collaboration in trade can lead to a more efficient allocation of resources, specialisation in production, and the exchange of goods and services that cater to diverse consumer needs. This can result in enhanced productivity, job creation, and increased competitiveness in the global marketplace. Deepening trade relationships can stimulate Innovation and technological advancements as businesses strive to meet the demands of new markets.
Knowledge and expertise are transferred between countries while a Culture of learning and continuous improvement is developed. By leveraging each other’s strengths and capabilities, nations can unlock new opportunities for growth and diversification in various industries. The expansion of trade can open up access to larger markets and a broader customer base, enabling businesses to scale up their operations and expand their reach. This creates avenues for increased sales, Revenue generation, and profit margins, driving Economic Expansion and overall prosperity.
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Additionally, increased trade can lead to the development of efficient and resilient supply chains and distribution networks, ensuring the smooth flow of goods and services across borders. Besides, the economic benefits of intensified trade ties extend beyond individual businesses to encompass the broader economy. A thriving trade ecosystem can attract foreign direct investment, spur economic diversification, and contribute to the development of Infrastructure and logistical networks. This, in turn, can create a conducive environment for sustainable growth and Poverty reduction, benefiting communities and societies at large.