Former President Olusegun Obasanjo has called for stronger bilateral relations between Nigeria and Angola during the Angola-Nigeria Diplomatic-Business Investment meeting held in Lagos on Saturday.

Obasanjo, serving as the special guest of honor at the event, emphasized the importance of fostering collaboration between the two nations. He underscored the significance of enhancing trade volume within Africa, highlighting the commitment to advancing economic partnerships across the continent.

The former president stressed the need for African countries to benefit from their own products, promoting intra-African trade and economic self-sufficiency. He also raised concerns about infrastructural deficits, particularly in transportation, which pose challenges to seamless trade between nations.

“We are still grappling with significant deficits in transportation. For example, moving goods between Congo DR and Congo Brazzaville remains problematic. We need to address these challenges to facilitate the movement of goods,” Obasanjo remarked.

The Secretary of the National Action Committee of AFCFTA, Nigeria, Olusegun Awolowo, lamented the absence of Foreign Direct Investment between Nigeria and Angola. 

He highlighted the untapped potential for economic engagement between the two largest oil exporters in Africa.

“Sadly, there is no Foreign Direct Investment (FDI) between Nigeria and Angola. This means trade between the two biggest oil exporters is zero, and this is not good enough.

“Angola is importing from the rest of the world what it can actually get from Nigeria and Nigeria doing likewise, we should trade between ourselves.

“Comparatively, we supply what they don’t have and they also supply what we don’t have. Former President Obasanjo has mentioned some areas that need more collaboration.

“It’s true we have some infrastructural deficits which both government and the private organisations can also latch on to invest,” he said.

Fifi Ejindu, President of the Angola-Nigeria Business Council, emphasized the need for positive steps to streamline trade barriers and visa processes between the two countries. She highlighted the support from Angolan government authorities and the growing interest among Nigerian investors in trade initiatives.

Dr. Armando Manuel, former Minister of Finance in Angola, expressed optimism about the outcomes of the diplomatic-business investment meeting. He highlighted opportunities for Nigerian investors in various sectors in Angola, including pharmaceuticals, agriculture, and food security.