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Nigeria, South Africa Join Hands To Enhance Cooperation As Greatest Economies Of Africa

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In order to enhance economic cooperation between the two greatest economies in Africa, Nigerian President Bola Tinubu met with South African President Cyril Ramaphosa in New York, according to a statement released by his spokesperson on Monday.

According to a joint statement, the two African presidents met before the UN General Assembly, which is set to begin this week.

According to Tinubu, both nations may work together in the mining and telecommunications sectors to “deliver jobs” in a way that is mutually advantageous to both parties.

Nigeria’s largest changes in decades have been started by Tinubu, who has eliminated a well-liked but expensive petrol subsidy and lifted restrictions on foreign exchange trading. He has promised to bring back a faltering economy plagued by record debt, sluggish growth, and double-digit inflation.

“We are two major economies on our continent, and it is important that we deepen economic ties, particularly in light of the African Continental Free Trade Agreement,” Ramaphosa said. “We would love to see Nigeria and South Africa working closely together on a number of issues because whenever we join hands, we have made an impact globally through those joint positions,” he added.

In order to assist Africa fight growing poverty and economic difficulties, Tinubu also asked South Africa to join Nigeria in calling for changes of international financial institutions. “We must join hands and agree that International Finance Institutions require reform as Africa is not to be a ground for economic scavenging any longer, but it is a place with gifted people that is ready for investment and cooperation,” Tinubu said.

Aiming to mobilise international funding for infrastructure development, Tinubu will also meet with Microsoft, Meta, and Exxon Mobil officials in New York while attending his first UN General Assembly as the president of Nigeria.

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