Nigeria and Egypt Signed $30 Million Worth Bilateral Agreement

Nigeria and Egypt have signed a $30 million worth bilateral agreement at the just concluded maiden edition of the Nigeria-Egypt Trade Conference and Exhibition (NETCE) in Cairo.

The three days conference was organised by Egypt African Businessmen’s Association (EABA) and Nigeria-Egypt Cultural and Socio-Economic Forum (NESCEF) in conjunction with the Nigerian Embassy in Cairo.

Investors King learnt that many private entities signed business agreements at the sideline of the conference. 

A statement by Executive Assistant to the President, NESCEF, Abdul-Razaq Musa, revealed 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.

On the other hand, the Chairman of EABA, Dr Yousrey ElSharkawi noted that the outcome of the conference included exporting Egyptian Ready Made Cloth to Nigeria, cooperation on plastic sewage pipes factories and partnership on solar energy.

Similarly, 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.

The minister noted that Nigeria requires a minimum of 200,000 housing units each year and the template in Egypt could be a model for the Nigerian housing challenge.

On his part, 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.

The ambassador noted that Nigeria and Egypt both have rich natural and human resources.

He also stated that the countries have a very enterprising and innovative youthful population. 

Some of the Nigerian private companies which participated in the conference include, 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.