In a significant step toward strengthening economic ties between Rwanda and Nigeria, the Rwanda High Commission in Nigeria has announced the signing of a Memorandum of Understanding (MoU) between the Lagos Chamber of Commerce and Industry (LCCI) and Rwanda’s Private Sector Federation (PSF). The agreement, signed during the 2024 Lagos International Trade Fair, aims to boost trade, investment, and collaboration between the two nations across multiple sectors.
The MoU outlines a framework for cooperation in key areas, including agriculture (with a particular focus on Rwandan coffee and tea production), energy, manufacturing, technology, and creative industries, according to Maureen Chukwura, Head of Communication at the Rwanda Embassy in Nigeria. The partnership aims to streamline trade processes, reduce barriers, and encourage the exchange of goods and services.
“The MOU is a testament to our shared vision—a vision of a vibrant and interconnected African business landscape where Rwanda and Nigeria stand as beacons of economic collaboration and mutual growth,” said Christophe Bazivamo, High Commissioner of Rwanda to Nigeria. He highlighted Rwanda’s commitment to supporting this initiative by enhancing business infrastructure and promoting an investment-friendly climate.
Under the MoU, the LCCI and PSF Rwanda will work together to identify and promote investment opportunities, share market insights, and enhance business competitiveness through capacity-building initiatives and joint events. The partnership is also expected to drive economic growth, create jobs, and increase competitiveness in both countries.
Gabriel Idahosa, President of LCCI, emphasized the MoU’s role in building business relationships, exploring investment potential, and fostering knowledge exchange between Nigerian and Rwandan businesses. “This collaboration aligns with our objective to create a stronger, mutually beneficial economic partnership,” Idahosa noted.
The MoU marks a new chapter in Rwanda-Nigeria relations, with both countries positioning themselves as leaders in regional economic collaboration. The agreement is anticipated to spur investment, particularly in agriculture, energy, and technology, contributing to a more robust African economic landscape.