Nigeria And Egypt Sign $30m Business Agreement In Cairo


In a bid to strengthen bilateral relations between Nigeria and Egypt, businees organisations in the two countries have signed partnership agreements worth 30 million dollars.

The partnerdhip was signed at the just concluded maiden edition of the Nigeria-Egypt Trade Conference and Exhibition (NETCE) in Cairo.

Chairman of the Egypt African Businessmen’s Association (EABA), Dr Yousrey El Sharkawi and Mr Mahmood Ahmadu, president of Nigeria -Egypt Cultural and Socio-Economic Forum (NESCEF), disclosed this at the end of the three-day conference, organized by both organizations in collaboration with the Embassy of Nigeria in Cairo.

Nigeria And Egypt Sign $30m Business Agreement In Cairo

According to a statement by Abdul-Razaq Musa, Executive Assistant to the President, NESCEF, El Sharkawi while addressing the press disclosed that six companies from both countries agreed to cooperate in the sectors of construction, medical equipment, and engineering industries as well as agriculture, mining, technology and real estate.

He lauded the organized private sector in both countries for making bold steps to actualize increased economic cooperation.

Nigeria’s Minister of State for Works and Housing, Ibrahim El-Yakub, who attended the conference, and toured some housing units developed by the private sector in Egypt, expressed the willingness of Nigeria to cooperate with Egypt in the housing sector.

Yakub noted that Nigeria requires a minimum of 200,000 housing units each year.

Welcoming the outcome of the conference, Nigeria’s Ambassador to Egypt, Nura Abba Rimi, noted that the agreements reached by the private entities would encourage more business and trade opportunities for the benefit of citizens of both countries.

Source: Vanguard Newspaper