Nigeria and Morocco strengthen business ties

Nigeria and Morocco have moved to strengthen their business relationship by signing two bilateral agreements in Rabat.

The first agreement is the Joint Initiative on the Morocco-Nigeria Gas Regional Pipeline.

Historical significance
Tagged ‘the Wonder of Africa,’ the pipeline project has historical significance because it is designed by ‘Africans for Africans’ with a direct impact on 300 million people through the speeding up of electrification projects in West Africa.

The scope of the Memorandum of Understanding is to determine the modalities of undertaking a feasibility study and a Front-End Engineering and Design (FEED) study relating to a gas pipeline from Nigeria to Morocco.

It also specified equal partnership in governance, management and financing of the project.

The timeline for both studies is two years from the date of signing and interested third party countries will be allowed to join.

The second bilateral agreement is the Second Phase of the Fertiliser Initiative.

While the first phase was the supply of a cargo of phosphate by Morocco to Nigeria. It led to the resuscitation of 11 blending plants which produced about 1.3 million tonnes of fertiliser; creation of 50,000 (direct) and 150,000 (indirect) jobs and farmers have access to the quantity of fertiliser they need. The second phase will enable the maximisation of local fertiliser production through the creation of platform for basic chemical products, secure the Nigeria’s market’s fertiliser supply for competitive prices and reinforce local distribution channels.

According to the Foreign Minister of Morocco, Nasser Bourita “the signing of the agreements reflects the shared vision of the two leaders, President of Nigeria, Muhammadu Buhari (GCFR) and King Mohammed VI, the King of Morocco  in favour of a sustainable, active and solidarity based joint development for Africa.” Both projects were initiated during the Royal visit of the king to Nigeria in December, 2016.

The ceremony, held at the palace of King Mohammed VI, had him in attendance as well as a high-powered delegation led by the Minister of Foreign Affairs, Mr Godfrey Onyeama, the Minister of Agriculture and Rural Development, Audu Ogbe. Others were the minister of Mines and Steel Development, Kayode Fayemi, the Governor of Jigawa State and Chairman, Presidential Committee on Fertiliser, Abubakar Badaru as well as other African countries.

PR/ Ugonma Cokey/ Mercy Chukwudiebere