In Cairo, Nigeria and Egypt ink a $30 million economic deal.

Business organizations in Nigeria and Egypt have inked partnership agreements worth $30 million in an effort to improve their bilateral ties.

The collaboration was formally established during Cairo’s just finished first Nigeria-Egypt Trade Conference and Exhibition (NETCE).

This was revealed at the conclusion of the three-day conference, which was put on by the chairman of the Egypt African Businessmen’s Association (EABA), Dr. Yousrey El Sharkawi, and the president of the Nigeria-Egypt Cultural and Socio-Economic Forum (NESCEF), Mr. Mahmood Ahmadu.

In a statement to the media, Abdul-Razaq Musa, Executive Assistant to the President, NESCEF, El Sharkawi, revealed that six companies from the two nations had agreed to collaborate in the fields of engineering, construction, and medical equipment as well as in those of agriculture, mining, technology, and real estate. He praised both countries’ structured corporate sectors for taking risky actions to achieve greater economic cooperation.

Ibrahim El-Yakub, the Minister of State for Works and Housing of Nigeria, stated his country’s willingness to collaborate with Egypt on the housing front while attending the conference and touring several housing developments made by the private sector in Egypt.

Nigeria needs at least 200,000 housing units a year, according to Yakub.

Nura Abba Rimi, Nigeria’s ambassador to Egypt, welcomed the conference’s conclusion and said that the private entities’ agreements would promote greater business and trade prospects for the benefit of the populations of both nations.