Nigeria and Chad have agreed to set up a joint business council for the development of stronger commercial ties and the improvement of bilateral trade and investment flows between the two countries.
Daniel Awurum, head of press and protocol at the Nigerian Investment Promotion Commission (NIPC), announced this in a statement on Monday
Awurum said the council would drive the actualisation of tangible investments, thereby improving economic growth and development.
According to him, the joint council is the outcome of a meeting between the management of NIPC and a business delegation from the Republic of Chad led by Sadique Abubakar, Nigeria’s ambassador to Chad, and his counterpart, Abakar Saleh Chiami, ambassador of Chad to Nigeria.
Also speaking on the development, the acting Executive Secretary/CEO, NIPC, Emeka Offor said, “NIPC will facilitate the setting up of the Joint Business Council in accordance with our mandate – to encourage, promote and coordinate investments in the country.”
“Both countries recognise the potential value of the informal trade activities across their borders,” said Ambassador Chahaimi.
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“There is, therefore, the need to formalise business activities between both countries,” he stated while making the case for setting up the Joint Business Council.
In his remarks, Abubakar said he had been keen on increasing trade and investment between both countries since he assumed office in January 2021.
“I think we can also look forward to how we can promote trade through cargo flights between both countries,” he added.
What you should know
Trade and investment relationship between Nigeria and Chad predates the political independence of both countries.
The establishment of the joint business council is expected to foster bilateral relations between key public and private sector institutions in both countries and drive the actualisation of tangible investments which will drive economic growth and development.
