By Danjuma Amodu | March 17, 2026
Abuja, Nigeria – Nigeria and Tanzania are seeking to strengthen their economic partnership, with stakeholders calling for deeper cooperation and private sector engagement to unlock new opportunities in intra-African trade and investment.
The Nigeria-Tanzania Trade and Investment Forum, held in Abuja, brought together government officials, diplomats, and business leaders to explore ways to enhance bilateral trade and investment.
Tanzania’s High Commissioner to Nigeria, Ambassador Selestine Kakele, noted that current trade volumes between the two countries are low, with Tanzania’s exports to Nigeria standing at about $21.5 million, while Nigeria’s exports to Tanzania are valued at approximately $881,000.
Despite the low trade figures, Kakele highlighted that Nigerian investments in Tanzania exceed $1.3 billion, driven by companies such as Dangote Industries and the United Bank for Africa. He emphasized Tanzania’s stable economic outlook under President Samia Suluhu Hassan and invited Nigerian investors to explore opportunities under the country’s Vision 2050 development agenda.
President of the Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, described the forum as a critical step toward strengthening bilateral economic relations. He noted that both countries have vibrant private sectors, abundant natural resources, and expanding markets capable of driving industrial cooperation.
Obegolu emphasized that sustainable economic growth in Africa would be largely driven by the private sector, with governments providing enabling policies. He identified priority areas for collaboration, including agriculture, manufacturing, solid minerals, oil and gas services, renewable energy, ICT, infrastructure, real estate, and tourism.
The ACCI president stressed the need for practical business engagement over policy rhetoric, noting that Nigeria’s population of over 200 million people and its investment-friendly laws, which allow 100% foreign ownership, remain key attractions for investors.
Obegolu also highlighted improving connectivity between both countries, particularly Air Tanzania’s thrice-weekly flights to Nigeria, describing the direct route as a strategic platform for easing movement and strengthening business ties. He urged participants to leverage the African Continental Free Trade Area (AfCFTA) to expand market access and reduce dependence on external markets.
As the forum concluded, stakeholders expressed optimism about the potential for growth and pledged to work together to unlock new opportunities in trade and investment. With both countries committed to fostering stronger economic ties, the stage is set for a new era of cooperation and prosperity.
