Nigeria, Rwanda Sign MOU to Strengthen Economic Partnership
Michael Olugbode in Abuja
Rwanda and Nigeria have strengthened their economic partnership withthe signing of a Memorandum of Understanding (MoU) at the Lagos International Trade Fair between the Lagos Chamber of Commerce and Industry (LCCI) and the Private Sector Federation (PSF), Rwanda.
The signing ceremony took place on the sidelines of the 2024 Lagos International Trade Fair, further underscoring the commitment to enhancing trade and investment ties between the two nations.
The MoU was signed between the LCCI and the PSF, represented by their respective leaders: Mr. Gabriel Idahosa, President of the LCCI, and Mr. Kanamugire Callixte, Deputy CEO of the PSF Rwanda.
Speaking, High Commissioner of Rwanda to Nigeria, Ambassador Christophe Bazivamo, said: “This MOU is a testament to our shared vision—a vision of a vibrant and interconnected African business landscape where Rwanda and Nigeria stand as beacons of economic collaboration and mutual growth”. “The Rwandan government is fully committed to supporting this endeavor. We have implemented policies to streamline business procedures, enhance infrastructure, and promote a conducive investment climate.”
The LCCI representative outlined the objectives of the partnership, including enhancing business relationships, exploring investment opportunities, and sharing best practices between Nigerian and Rwandan businesses. Specific sectors identified for collaboration include agriculture (with a particular interest in Rwandan coffee and tea production), energy, manufacturing, technology, and creative industries.
Under the MoU, the LCCI and PSF Rwanda will work together to: Facilitate Trade by streamlining trade procedures, reduce barriers, and promote the exchange of goods and services between Nigeria and Rwanda; Promote Investment by identifying and promoting investment opportunities in both countries, organize trade missions, and facilitate business partnerships; Share Information by exchanging information on market trends, trade regulations, and investment incentives to support business decision-making; Build Capacity by organising joint workshops, training programmes, and knowledge-sharing initiatives to enhance the competitiveness of businesses in both countries; and Host Events by collaborating on organising trade fairs, exhibitions, and business forums to foster networking and facilitate partnerships.
