×

Nigeria, South-Africa sign MoU on trade and investment

Nigeria is repairing its seemingly faulty relationship with South Africa as the Vice-President; Nnamadi Sambo has called for the removal of irregularities in economies and … Continue reading Nigeria, South-Africa sign MoU on trade and investment


Nigeria is repairing its seemingly faulty relationship with South Africa as the Vice-President; Nnamadi Sambo has called for the removal of irregularities in economies and regulatory impeding the proper development of trade between the two countries.

The Vice-president made the appeal while addressing delegates to the Nigeria /South-Africa bi-national commission meeting in Cape Town, where the Memoranda of Understanding (MoU) on trade and investment was signed.

Vice-president Sambo said Nigeria welcomes a greater participation of South-African investors in infrastructure development, mining and solid mineral exploration, value chain in agriculture, oil and gas as part of efforts towards the objectives of vision 20:2020.

Mr Sambo said  “the outcome of our work today including the signing of MoUs and agreements would hardly yield the desired result without the political will to implement our decisions. That is why we must follow up on the signed agreements to facilitate the desired economic and technical cooperation to stimulate growth, job creation and development of our industries and economies”

Reacting to Sambo’s speech, the South African deputy president, Kgalema Montlanthe said the present state of relations between Nigeria and South Africa is not a reflection of the long standing traditional and historical relations between them.

The Vice-president also dismissed as “totally wrong and untrue” suggestions that the Nigerian government is leading a campaign against South Africa’s Home Affairs Minister, Dr Nkosazana Dlamini Zuma, in the battle for the chairmanship of the African Union (AU).

Sambo said his government would support South Africa not only for a position in the AU, “but even for a position in the United Nations”.