Nigeria’s Export To Angola Hits $16.8m Between 2020-2022

The Secretary of State for International cooperation and Angola communities, Domingos Lopes has said Nigeria’s export to Angola between 2020 and 2022 hit $16.8million.

Lopes made the disclosure stated at the first Angola-Nigeria business Interactive Forum held in Abuja on Thursday.

The Secretary, who represented the Minister of External Relations, His Excellency Téte Antonio said the ties between both countries were marked by signing of the first economic, technical —scientific and cultural cooperation agreement in 1976, adding that exchange between the two has been  remarkable in the diplomatic, defence and security, petroleum, education, culture and transportation.

He said: “In the last three years (between 2020 and 2022), Angola exportation of goods to Nigeria was estimated at USD 5.6 million and its importation stood at USD 16.8million, corresponding to a negative trade balance of about USD
11.2million.”

He revealed that Angola exported crude oil weighing about 42% to Nigeria, optics and precision accounting for 20%, mechanical machines and devices with their own function, accounting for 14% of the total volume of exports.

He said in the area of importation of acquired product group were machine  and apparatus, CKD, plastics, rubbers and other transport materials. These groups in their total represent more than half of the total exportation during the period (41%,19% and 15% respectively).

Lopes also noted that Angola counts on the support of Nigeria during its economic reform, but lamented that: “The present international system is facing various challenges. 

“Angola being part of the system is witnessing a special moment marked by structural reforms that aim to transform its macroeconomic situation.

“To achieve this objective, the Angolan government intend to count on the support of friendly countries who are always on its side, and one of these is indisputably, Nigeria.”

Also speaking at the event, the Minister of Information and National Orientation, Mohammed Idris said the administration of President Bola Tinubu will continue to strengthen both mutual ties, through a deliberate pursuit of productive bilateral relations.

He said: “President Bola Tinubu is desirous to deepen the relationship between Nigeria and other African countries, including Angola.

“Among other things, we are working on signing a Memorandum of Understanding on Public Communication and Media Exchange with the Embassy of Angola in Nigeria, as part of efforts to deepen our relationship.

“Nigeria is very much keen to support Angola’s domestic and foreign aspirations and the country’s overall development, and we expect reciprocity in this regard.”

The Angola Ambassador Designate to Nigeria, Amb. Jose Zau said the forum will help strengthen the economic ties between Nigeria and Angola.

Michael Olugbode in Abuja

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