Nigeria-Egypt Trade Soars 68%, But Tuggar Demands Fairer Deal
Trade between Nigeria and Egypt has seen a remarkable surge, rising by 68.45% within the span of a year from $187 million in 2023 to $315 million in 2024 signaling a renewed momentum in economic ties between the two African powerhouses.
The development was disclosed by Egypt’s Minister of Foreign Affairs, Badr Abdelatty, on Monday at the second edition of the Nigeria-Egypt Business Forum held in Abuja.
Abdelatty described the leap as a reflection of growing trust and cooperation between Cairo and Abuja.
“Recent statistics reveal a dynamic shift in our bilateral trade, which significantly increased from around $187 million in 2023 to around $315 million in 2024,” he announced.
However, Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, sounded a note of caution. While applauding the growth, he emphasized the urgent need to address trade imbalances, insisting that the deepening economic relationship must yield equitable benefits for both nations.
“Egypt and Nigeria must urgently rebalance their lopsided trade ties,” Tuggar said. “Our relationship has grown from a diplomatic brotherhood into a comprehensive partnership. It is now time to translate that alliance into measurable economic impact.”
The business forum brought together top government officials and private sector players from both countries, with discussions centered on expanding cooperation in security, trade, politics, education, diplomacy, and cultural exchanges.
As the two nations move to strengthen their ties, experts believe that a balanced, inclusive trade policy will be key to unlocking the full potential of Nigeria-Egypt relations.
