Morocco-Nigeria: Businesspeople hold investment forum to boost economic ties
Moroccan and Nigerian business stakeholders are pondering over ways to increase economic ties between the two continent giants as King Mohamed VI visits President Buhari in Abuja.
Moroccan and Nigerian private and public sector investors have been meeting since Wednesday in economic capital Lagos to detect investment opportunities between the two countries.
Nigeria, the second largest economy of the continent only represents 8.4 per cent of Morocco’s exports to Sub-Sahara while it stands as the second goods supplier of the North African country, with a margin of 14 per cent, according to the Moroccan trade ministry, online media huffpostmaghreb.com reports.
The forum is a buildup to a major forum dubbed “business climate and investment opportunities” to take place during King Mohamed VI visit in Abuja.
Muda Yusuf, Director of Lagos Chamber of Commerce and Industry points out that enhancement of trade ties will improve regional integration between the two countries.
Morocco according to Yewande Sadiku, Director of Nigerian Investment Promotion Commission will win a lot with investments in the agriculture sector, infrastructure, information technology, communication, tourism, oil and gas sector.
Nigeria is an important springboard if Morocco wants to enter Anglophone market, Abdou Souleye Diop, President of Africa and South-South Commission at Confederation of companies of Morocco says.
Diop further notes, Moroccan investors’ mission in Lagos is to identify with their Nigeria counterparts sectors where both countries can establish cooperation and partnership.