Stakeholders from Nigeria and Tanzania have called for deeper economic cooperation and stronger private sector engagement to boost intra-African trade and investment.
The call was made at the Nigeria–Tanzania Trade and Investment Forum held in Abuja, bringing together government officials, diplomats and business leaders from both countries.
Tanzania’s High Commissioner to Nigeria, Ambassador Selestine Kakele, said current trade volumes between the two countries remain low and do not reflect their strong diplomatic relations.
He disclosed that Tanzania’s exports to Nigeria stand at about 21.5 million dollars, while Nigeria’s exports to Tanzania are valued at approximately 881,000 dollars.
Despite the low trade figures, Kakele noted that Nigerian investments in Tanzania exceed 1.3 billion dollars, driven by companies such as Dangote Industries and the United Bank for Africa.
He highlighted Tanzania’s stable economic outlook under President Samia Suluhu Hassan and invited Nigerian investors to explore opportunities under the country’s Vision 2050 development agenda.
President of the Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, described the forum as a critical step toward strengthening bilateral economic relations.
Represented by the First Deputy President of ACCI, Professor Adesuji Adesugba, he said both countries have vibrant private sectors, abundant natural resources and expanding markets capable of driving industrial cooperation.
Obegolu emphasised that sustainable economic growth in Africa would be largely driven by the private sector, with governments providing enabling policies.
He identified priority areas for collaboration to include agriculture, manufacturing, solid minerals, oil and gas services, renewable energy, ICT, infrastructure, real estate and tourism.
He also stressed the need for practical business engagement over policy rhetoric, noting that Nigeria’s population of over 200 million people and its investment-friendly laws, which allow 100 per cent foreign ownership, remain key attractions for investors.
Obegolu further highlighted improving connectivity between both countries, particularly Air Tanzania’s thrice-weekly flights to Nigeria, describing the direct route as a strategic platform for easing movement and strengthening business ties.
He urged participants to leverage the African Continental Free Trade Area (AfCFTA) to expand market access and reduce dependence on external markets.
Director-General of ACCI, Chukwuemeka Jideani, reaffirmed the Chamber’s commitment to promoting intra-African trade and investment. He noted that platforms such as the B2B forum provide opportunities for businesses to connect, exchange ideas and establish joint ventures.
Also speaking, Director-General of Voice of Nigeria (VON), Mallam Jibrin Baba Ndace, emphasised the role of media in bridging language barriers across the continent.
He said VON broadcasts in eight languages, including Swahili, which is widely spoken in Tanzania, and urged participants to leverage the platform to promote positive narratives that support trade.
Ndace added that the organisation plans to commence Mandarin broadcasts to further expand its global reach.