Speaking during the inaugural interactive Angola-Nigeria business conference recently held in Abuja, the Angolan Minister of External Relations, Téte Antonio, also mentioned that Angola depends on Nigeria's assistance as it pursues economic transformation.
He states, "There are a number of difficulties affecting the world economy. As a member of the system, Angola is living through a unique period characterized by structural changes intended to improve its macroeconomic circumstances.
"The Angolan government relies on the assistance of friendly nations that are constantly on its side to attain this goal, and Nigeria is without a doubt one of these nations.”
Angolan embassy in Nigeria arranged the event, which drew together businessmen from all over the country.
The first agreement on economic, technical, scientific, and cultural cooperation was signed in 1976, according to Antonio, who was speaking on behalf of Domingos Lopes, the Secretary of State for International Cooperation and Angola Communities. He also mentioned the remarkable exchanges that have taken place between the two nations in the fields of diplomacy, defense and security, petroleum, education, culture, and transportation.
"Angola sold commodities of $5.6 million to Nigeria in the last three years (2020–2022), while its purchases from Nigeria were $16.8 million, resulting in a negative trade balance of almost $11.2 million,” he said.
He added that 14% of Angola's entire export volume consisted primarily of mechanical machines and devices.
He added that Angola imports rubber, plastics, machinery, and other transportation-related products at the same time.
In his remarks at the function, Minister of Information and National Orientation Mohammed Idris stated that President Bola Tinubu's administration will keep fostering strong bilateral relations by consciously pursuing them.
Idris clarified that President Bola Tinubu wants to strengthen ties between Nigeria and Angola, among other African nations.
As part of our efforts to strengthen our partnership, he stated, "among other things, we are working on signing a Memorandum of Understanding on Public Communication and Media Exchange with the Embassy of Angola in Nigeria."
"We expect reciprocity in this regard, as Nigeria is eager to support Angola's domestic and foreign aspirations as well as the country's overall development."
According to Amb. Jose Zau, the Angolan ambassador to Nigeria, the forum will contribute to deepening the economic relationship between Angola and Nigeria.