Executives from 30 of Egypt's largest companies are currently in Nigeria to explore new investment opportunities across sectors such as agriculture, pharmaceuticals, energy, oil and gas, and manufacturing. This visit, led by Egyptian Minister of Foreign Affairs, Immigration and Expatriates Badr Abdel Aaty, highlights a renewed effort to strengthen economic ties between Egypt and Nigeria.
During a meeting in Abuja with Nigeria's Foreign Affairs Minister, Yusuf Tuggar, Aaty emphasized Egypt's strong interest in leveraging Nigeria's conducive investment environment. He noted that despite Nigeria and Egypt being two of Africa's largest economies, their current trade volume—estimated at just over $211 million in 2023—is far below potential and must be significantly increased.
Tuggar called for both countries to work toward the D-8 group's goal of reaching $500 billion in intra-bloc trade by 2030. He also confirmed that the Egyptian delegation would participate in the Jigawa State Business Forum and explore various sectors, including solid minerals, renewable energy, ICT, and water management.
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Both ministers highlighted plans to establish a joint Nigeria-Egypt commission to drive bilateral trade initiatives and foster greater private sector collaboration. They also agreed that the time was ripe for Nigeria and Egypt to lead economic integration efforts on the continent, especially under the African Continental Free Trade Area (AfCFTA).
With a combined population of 345 million, the ministers said the two nations are uniquely positioned to drive intra-African trade, industrialisation, and sustainable development.
