Ghana government official discusses mining sector reforms during a formal event.
Trade between Nigeria and Egypt surged to $315 million in 2024, up from $187 million the previous year, according to Egypt’s Foreign Minister Dr. Badr Abdelatty. Despite the growth, officials from both countries acknowledged that trade volume still falls short of their economic potential. They called for more diversified trade and better use of frameworks like the African Continental Free Trade Agreement (AfCFTA) and the Developing-8 (D-8) bloc. The D-8 bloc, which is a group of eight developing economies that includes Bangladesh, Türkiye, Pakistan, Indonesia, Iran, Malaysia, Nigeria, and Egypt, aims to increase intra-bloc trade to $500 billion by 2030. Still, bilateral trade remains well below potential despite recent growth. Meanwhile, Nigeria saw Africa become its top export destination in 2024, led by trade with South Africa and Côte d’Ivoire.
Nairametrics