From Umar Danladi Ado, Sokoto
The Nigeria and Benin Republic have finalized arrangements to strengthen economic and social relations by building strong cooperation through the promotion of a bi-national commission between the two countries that will facilitate free flow of trade.
Nigeria Minister of Foreign Affairs, Yusuf Tuggar who led the Nigerian delegation to the meeting at the Sagbana border post in Benin Republic, said the consultative meeting was mandated by President Bola Tinubu and
President, Patrice Talon, of Benin Republic in line with the ECOWAS Treaty and the Africa Continental free trade area.
Available data reveal that, trade between Nigeria and Benin Republic has increased by an annualized rate of 8.22 percent as Nigeria exports to Benin Republic increases from $25 million in 1996 to over $195million in 2022.
Accordingly, transit trade is one of the economic mainstay of Benin Republic, leveraging on the country’s proximity to Nigeria large market and the strategic position of the Port of Cotonou in Benin Republic .
According to him, the aim of the meeting is to deepen bilateral and trade relations as well as expand inclusivity and access for all business interests based in Northern Nigeria by improving the border infrastructure between the two countries in this region.
Officials of Benin Republic at the meeting said, the bilateral agreement will go a long way in uniting the two countries and promoting their economies in line with the spirit of integration and concept of African continental free trade area.
Speakers at the occasion includes ,Bashir Adewale Adeniyi, the Controller General of Customs, Romuald Wagagni the Benin Republic Minister of Finance and Shegun Bakati Adjadi,Benin Republic Minister of Foreign affairs as Adidjatou Hassan Zannari,Benin Republic Director General in Charge if Customs .
