Former President Olusegun Obasanjo recently engaged in a trade mission with Angola’s President João Lourenço, focusing on investment opportunities in various sectors. According to a statement from his Special Media Assistant, Kehinde Akinyemi, Obasanjo led a group of Nigerian investors from the Angola Nigeria Business Council during the visit over the weekend. During a private discussion with Angolan President Joao Lourenco, Obasanjo mentioned that they covered a range of investment opportunities such as oil refineries, hydro power projects, agriculture, pharmaceuticals, and other sectors.
During the visit, Obasanjo also had a meeting with Armando Manuel, who is the Chairman of the Sovereign Wealth Fund, to discuss potential investment opportunities that could be pursued together by both countries. During their meeting, Obasanjo and former Prime Minister of Angola, Lopo do Nascimento delved into potential investment prospects and the interconnected past of their nations. This included Nigeria’s support for Angola as a frontline state in 1976, back when Obasanjo ruled as Nigeria’s military head of state and Nascimento served as Prime Minister of Angola.
There is shared enthusiasm in exploring business opportunities.
Mrs. Fifi Ejindu, the President of the Angola Nigeria Business Council, emphasized the importance of the Council in promoting economic collaboration between the private sectors of both countries. She highlighted the potential for achieving significant progress through unity and cooperation. During their meeting, Ejindu had a productive discussion with the Vice President of Angola, Esperança da Costa, focusing on important issues to improve economic cooperation and relations between Nigeria and Angola. The exchange of strategies was dynamic and beneficial for both countries.
Ejindu explained that Obasanjo was invited to join the visit to Angola due to his strong reputation and popularity in the country. He is expected to help in attracting investors from Nigeria to Angola and vice versa. Leke Adebiyi, the Special Envoy to Obasanjo, deemed the visit as fruitful and effective, noting a shared enthusiasm from all parties in exploring collaborative business opportunities for investors from Nigeria and Angola. This initiative supports the goal of enhancing economic connections, developing feasible investment prospects, and encouraging mutually advantageous partnerships between the two countries.
A more prosperous future is on the horizon for the citizens.
Moreover, the visit marks a positive step forward in strengthening economic partnerships and trade ties, in order to maximize growth opportunities for both Nigeria and Angola. With ongoing exploration of new ways to work together and attract investments, a more prosperous future is on the horizon for citizens of both countries. Adebiyi expressed excitement about the ongoing collaboration and mutual achievements in the fields of investment and economic growth. During the Angola-Nigeria Diplomatic-Business Investment meeting held in Lagos, on February 3rd, former President Obasanjo emphasized the importance of enhancing bilateral relations between Nigeria and Angola to stimulate economic growth.
He stressed the relevancy of the meeting in strengthening collaboration between the two nations while also focusing on increasing trade within Africa as a way to further economic partnerships on the continent. Obasanjo said there is a need to focus on the benefits African countries can gain from their own goods in order to promote trade among African nations and enhance economic independence. He raised issues regarding the lack of infrastructure, especially in transportation, noting the obstacles that must be overcome to improve international trade relations.
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Speaking at the meeting, Fifi Ejindu stated that it is crucial to tackle trade obstacles and simplify visa procedures. She noted that the cooperation of Angolan government officials is a positive sign for advancing these efforts. Ejindu also highlighted the increasing involvement of Nigerian investors and upcoming business ventures in Angola as indicators of heightened enthusiasm and engagement in the discussed trade initiatives. Thus, she urged for more proactive measures to enhance trade relations between Nigeria and Angola.
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