‎Stakeholders from Nigeria and Tanzania have called for deeper economic collaboration and stronger private sector engagement to boost intra-African trade and investment.
‎The call was made on Tuesday at the Nigeria–Tanzania Trade and Investment Forum held in Abuja, bringing together government officials, diplomats and business leaders from both countries.
‎Tanzania’s High Commissioner to Nigeria, Ambassador Selestine Kakele, said current trade volumes between the two countries remained low and did not reflect their strong diplomatic relations.
‎He revealed that Tanzania’s exports to Nigeria stood at about 21.5 million dollars, while Nigeria’s exports to Tanzania was valued at approximately 881,000 dollars.
‎Despite the low trade figures, Kakele noted that Nigerian investments in Tanzania exceed 1.3 billion dollars, driven by companies such as Dangote Industries and the United Bank for Africa.
‎He emphasized Tanzania’s stable economic outlook under President Samia Suluhu Hassan and invited Nigerian investors to explore opportunities under the country’s Vision 2050 development agenda.
‎President of the Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, described the forum as a critical step toward strengthening bilateral economic relations and stressed the need for practical business engagement over policy rhetoric
Edited by Favour Owonibi.