Nigeria and Belgium are set to bolster their economic ties, with a focus on strengthening cooperation in agriculture and food security.
This development was announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Tuesday.
According to Edun, Nigeria’s improving economy, declining inflation, and increased savings in the federation account make it an attractive partner for Belgium. The minister also highlighted the government’s support for farmers through sustainable policies to boost agricultural productivity.
The Belgian Ambassador, Pieter Leenknegt, expressed his country’s interest in deepening economic relations with Nigeria for mutual benefit. Leenknegt noted that the meeting between the two nations marked a significant step towards strengthening economic ties.
This cooperation is part of Belgium’s broader efforts to strengthen economic diplomacy in Africa. Belgium has committed to peace, stability, and development cooperation in Africa, with a focus on regional cooperation and support for civil society.
The potential benefits of this cooperation are significant. Nigeria can leverage Belgium’s expertise in agriculture and technology to improve food security, while Belgium can tap into Nigeria’s vast market and natural resources.
As the two countries continue to explore opportunities for cooperation, they are likely to focus on key areas such as:
– Agricultural development: Nigeria can benefit from Belgium’s expertise in agricultural technology and best practices to improve productivity and food security.
– Trade and investment: The two countries can work to increase trade and investment flows, with a focus on sectors such as agriculture, manufacturing, and services.
– Development cooperation: Belgium can provide development assistance to Nigeria in areas such as healthcare, education, and infrastructure development.
Overall, the strengthening of economic ties between Nigeria and Belgium has the potential to drive economic growth, improve food security, and promote development cooperation.