Nigeria, Egypt seal agreements worth $30m

Nigeria and Egypt have signed partnership agreements worth 30 million dollars between business organisations from both countries at the end of the maiden edition of the Nigeria-Egypt Trade Conference and Exhibition (NETCE) in Cairo.

Dr. Yousrey El Sharkawi, Chairman, Egypt African Businessmen’s Association (EABA), and Mahmood Ahmadu, President, Nigeria -Egypt Cultural and Socio-Economic Forum (NESCEF), disclosed this at the end of the three-day conference in Cairo.

The News Agency of Nigeria (NAN) reports that the NESCEF was organized by both organisations in collaboration with the Embassy of Nigeria in Cairo.

El Sharkawi, while addressing a Press Conference, said 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.

El-Yakub noted that Nigeria required a minimum of 200,000 housing units each year to cater to citizens’ needs.

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

Rimi emphasised that both countries are endowed with rich natural and human resources, as well as a very enterprising and innovative youthful population.

President of NESCEF, Ahmadu thanked EABA and the Embassy of Nigeria in Cairo under whose aegis the conference was held successfully.

“I thank Nigerian firms and government organisations including Online Integrated Solution Services (OIS) Limited, Ocean City Development, Imam001 Global Agency Ltd, Uyk Holdings Ltd, iStrategic Transparent Solutions, G-one Energy Ltd, MFS Limited, Bashik Nasiku & Co, Hinterland Oil & Gas Ltd.

“The Ministry of Industry, Trade and Investment, Nigeria Export Promotion Council (NEPC), Slaylab Fintech, Lakeside Pharmaceutical, Danyalli Farms, among others, for participating in the conference,” Ahmadu said.

The News Agency of Nigeria (NAN) reports that NECSCF is a model business association devoted to promoting successful economic relations and business relationships between Nigeria and Egypt.

It aims to promote its members in Nigeria and Egypt and to facilitate the establishment of mutually beneficial partnerships between Nigerian and Egyptian businesses.