Nigeria and Angola Strengthen Economic Ties with $16.8 Million Trade Boost

Afaf Fahchouch
Afaf Fahchouch
2 Min Read
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Nigeria and Angola have bolstered their trade relations with exports amounting to $16.8 million between 2020 and 2022, according to Domingos Lopes, the Secretary of State for International Cooperation and Angola Communities. The announcement was made during the inaugural Angola-Nigeria business forum held in Abuja.

Lopes highlighted the historic ties between the two nations, dating back to the signing of the first economic, technical, scientific, and cultural cooperation agreement in 1976. He emphasized the diverse areas of collaboration, spanning diplomacy, defense, security, petroleum, education, culture, and transportation.

During the mentioned period, Angola’s exports to Nigeria were valued at $5.6 million, with crude oil accounting for 42% of the total exports. Other significant export categories included optics and precision (20%) and mechanical machines and devices (14%).

Nigeria acquired machinery, apparatus, plastics, rubbers, and transport materials on the import front, constituting more than half of the total imports. Lopes expressed Angola’s commitment to leveraging Nigeria’s support for its ongoing economic reforms.

In response, Nigeria’s Minister of Information and National Orientation, Mohammed Idris, affirmed President Bola Tinubu’s dedication to deepening relationships with African nations, including Angola. Idris highlighted the forthcoming Memorandum of Understanding on Public Communication and Media Exchange with the Angolan Embassy in Nigeria, emphasizing Nigeria’s eagerness to support Angola’s domestic and foreign goals.

Angola’s Ambassador to Nigeria, Amb. Jose Zau, lauded the forum’s role in strengthening economic ties, signaling a promising era of collaboration between the two nations.


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