Uganda, Nigeria explore deeper economic cooperation

March 21, 2024 in Business, Foreign News, Trade & Industry by Editor

Uganda and Nigeria hope to widen avenues for economic cooperation during this year’s edition of the Joint Permanent Commission (JPC) meetings as well as the fourth edition of the Uganda-Nigeria Business Forum. Both meetings are due to be held in May 2024.

Speaking during a meeting with Nigeria’s minister for foreign affairs Yusuf Maitama Tuggar in Abuja March 20, Uganda high commissioner to Nigeria, Nelson Ocheger, said Uganda was keen to increase interactions with Nigeria by creating an enabling environment for the private sector conduct business. He cited the launch of direct air services to Lagos by Uganda Airlines last October as one of the steps to address some of the bottlenecks to doing business between the two countries. He further revealed that Uganda Airlines would soon extend its services to Nigeria’s administrative capital Abuja, in the near future.

Ambassador Ocheger and his host further discussed the progress made towards concluding the process of reviewing bilateral agreements between the two countries in different sectors such as energy, oil and gas, defense and security cooperation and education among others.

Ocheger confirmed Uganda’s readiness to host the Joint Permanent Commission (JPC) meetings in Kampala during which various bilateral agreements and MoUs will be signed. To ease the participation of the private sector, the 4^th Uganda-Nigeria Trade and Business Forum will be held alongside the meetings of the Joint Permanent Commission.

Minister Tuggar said Nigeria was ready to share her decades-old experience in the oil and gas industry with Uganda. He also underscored the need to leverage the developments in the air transport sector and other continental frameworks like the African Free Continental Trade Arae (AfCFTA) to support meaningful engagements that will enable the private sectors in both countries to thrive. Other areas of cooperation discussed include agro-processing, education and security.

The duo underscored the need to shore-up bilateral relationship by increasing interactions in business, trade, investment, tourism and knowledge sharing.