From Adanna Nnamani, Abuja
The federal government has announced plans to establish a Nigeria-Egypt Joint Investment Council as part of efforts to deepen economic cooperation between the two countries.
The proposed Council, according to the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, will serve as a dedicated platform for identifying investment opportunities, mitigating risks, and fostering collaboration between the public and private sectors of both nations.
The Ministry’s Spokesperson, Muhammed Manga, disclosed this in a statement on Tuesday, July 22.
According to the statement, Edun, who was represented by the Minister of State for Finance, Dr Doris Uzoka-Anite, at the Nigeria-Egypt Business Forum held in Abuja on Monday, stressed that both countries stand to benefit from closer economic ties.
“We are blessed with vibrant populations, abundant natural resources, and an entrepreneurial spirit that positions us not as competitors, but as partners with a shared vision of resilient economies, inclusive growth, and sustainable development,” Edun stated.
He noted that the partnership would unlock new frontiers of prosperity, drive sustainable growth, and improve the ease of doing business between Nigeria and Egypt.
The federal government identified key sectors for potential Egyptian investment, including infrastructure, agriculture and agribusiness, energy and renewables, the digital economy, manufacturing, and industrialisation.
Edun said these sectors offer vast opportunities for collaboration and are expected to drive economic growth and development in both nations.
The forum, he added, demonstrates Nigeria’s commitment to improving the macroeconomic environment and restoring investor confidence through fiscal, monetary, and regulatory reforms.
Leave a comment