Nigeria’s exports to Angola will reach $ 16.8 million between 2020 and 2022, according to Domingos Lopes, Secretary of State for International Cooperation and Angola Communities. Lopes made the remarks on Thursday at the inaugural interactive Angola-Nigeria business event in Abuja.
The Secretary, who represented the Minister of External Relations, His Excellency, Téte Antonio, stated that the first economic, technical, scientific, and cultural cooperation agreement was signed in 1976, and that the exchange between the two countries has been remarkable in diplomatic, defense and security, petroleum, education, culture, and transportation.
“In the last three years (between 2020 and 2022), Angola’s exportation of goods to Nigeria was estimated at USD 5.6 million and its importation stood at USD 16.8million, corresponding to a negative trade balance of about USD 11.2million,” the official said.
Concerning the primary product group, Angola sent crude oil worth around 42% to Nigeria, optics and precision worth 20%, and mechanical equipment and gadgets with their functions worth 14% of total exports.
Machines and apparatus, CKD, plastics, rubbers, and other transport materials were among the acquired product groups imported. These groupings account for more than half of total exports over the time (41%, 19%, and 15%, respectively).
He also stated that Angola expects Nigeria’s cooperation during its economic transition. “As a member of the system, Angola is experiencing a unique period marked by structural reforms aimed at transforming its macroeconomic situation.” He added saying that the Angolan government intends to count on the support of friendly countries who are always on its side, and one of these is indisputably Nigeria.
Mohammed Idris, Minister of Information and National Orientation, stated that President Bola Tinubu’s administration will continue to deepen both mutual relationships through a deliberate pursuit of beneficial bilateral relations. “President Bola Tinubu is eager to deepen Nigeria’s relationship with other African countries, including Angola,” Idris explained.
“Among other things, we are working on signing a Memorandum of Understanding on Public Communication and Media Exchange with the Embassy of Angola in Nigeria, as part of efforts to deepen our relationship. Nigeria is eager to help Angola’s internal and foreign ambitions, as well as the country’s general growth, and we anticipate reciprocity in this regard.” he added
The forum, according to Angola’s Ambassador to Nigeria, Amb. Jose Zau, will help strengthen commercial connections between Nigeria and Angola.