Nigeria, Ethiopia Forge Stronger Trade Ties at NACCIMA Business Forum

In a bid to deepen bilateral economic relations, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) hosted a high-level Ethiopian business delegation in Abuja on Wednesday at a meeting themed “NACCIMA Meeting with Ethiopian Business Delegation.”

The four-day forum, which began on June 25 and runs through June 28 at the Abuja Chamber of Commerce and Industry (ACCI), marks a pivotal step in accelerating trade and private sector collaboration between the two African economic giants.

Speaking at the opening session, NACCIMA President Engr. (Dr.) Jani Ibrahim emphasized the need to move beyond rhetoric to tangible action. “It is time for action between the two countries. I want to see a trade between the two nations; let us exchange our resources. The time is now,” he declared, urging stakeholders to seize the moment for meaningful cross-border partnerships.

The meeting focuses on experience-sharing in critical areas including policy advocacy, institutional governance, public-private partnerships, and membership services.

Representatives from both countries showcased their natural resources and discussed best practices that could be mutually beneficial under frameworks like the African Continental Free Trade Area (AfCFTA).

Nigeria and Ethiopia currently maintain modest trade volumes, with Nigeria exporting goods worth about $37 million to Ethiopia in 2023, and importing approximately $1.3 million, totaling $38.3 million. However, both sides acknowledged that these figures do not reflect the full potential of their economies. Nigeria’s nominal GDP stood at $199.7 billion in 2024, while Ethiopia recorded $145 billion with an impressive growth rate of 8.1% in FY 2023.

In his keynote address, Dr. Ibrahim underscored the economic synergy between Nigeria and Ethiopia, calling for enhanced strategic cooperation to unlock new trade flows, diversify production, and empower small and medium-sized enterprises (SMEs) across the continent. He described the meeting as a “clarion call for economic collaboration,” anchored on shared growth aspirations and regional integration.

H.E. Ambassador Esayas Gotta, Deputy Head of Mission of the Ethiopian Embassy in Nigeria, lauded Nigeria’s economic achievements, particularly its production of Africa’s richest man, Aliko Dangote.

He suggested that Nigeria, Ethiopia, South Africa, and Algeria—representing the four corners of the continent—could collectively uplift Africa’s economy through deliberate partnerships.

Ambassador Gotta highlighted the similarities between Nigeria and Ethiopia, including their large populations, abundant natural resources, and ongoing economic reforms. “By working together, we can learn from each other’s success stories and confront the challenges we face,” he said, stressing the critical role of the private sector in driving economic growth.

The ambassador also extended an invitation to the Nigerian private sector to explore investment opportunities in Ethiopia, citing a range of fiscal and non-fiscal incentives available in key sectors.

“It is my sincere hope that in the course of this meeting, there will be ample opportunities for networking, for exchange of views, and for initiation of future partnerships,” he added.

The forum is expected to culminate in bilateral agreements and joint ventures aimed at boosting trade, technology exchange, and industrial development. Participants expressed optimism that this collaboration could serve as a blueprint for intra-African commerce, setting a new benchmark for regional cooperation.

As deliberations continue through Saturday, the meeting is set to renew commitment to translating Africa’s economic promise into real-world results—one handshake, one partnership, and one trade deal at a time.