"> ACCI Expresses Optimism Over Heightened Bilateral Trade, Investment Between Nigerian-Tanzania - Sahel Standard
May 11, 2021
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ACCI Expresses Optimism Over Heightened Bilateral Trade, Investment Between Nigerian-Tanzania

The Abuja Chamber of Commerce and Industry (ACCI) has expressed optimism to a heightened bi-lateral trade and investment activities between Nigeria and Tanzania.

President of the Chamber, Dr Almujtaba Abubakar stated this on Tuesday at the Tanzania-Nigerian Tourism, Investment and Trade (TN-TIT) Forum held in Abuja.
He said that businesses in Nigeria and Tanzania should leverage on the occasion to optimize investment opportunities inherent in both countries, in all sectors including; agriculture, livestock development, financial services, transportation, manufacturing, mining, energy, and ICT.

Dr Almujtaba who appreciated the Tanzanian High Commissioner to Nigeria and his team for organizing the event, said the occasion was a strategic move noting that the outcomes of the forum would strengthen and foster business relationships that already exist between Nigeria and Tanzania.

“It is no gain saying that Tanzania is not just one of the countries in the world that mother nature has blessed with beautiful sceneries, it is also home to some of Africa’s most famous national parks and natural attractions which offers an extreme and varied assortment and attractions to tourists.
“Statistical data have shown that from 2015-2019 about 23,032 Nigerians have visited Tanzanian as tourists, excluding those who visit as tourists from other countries. With an average of 5,758 tourist visits per year, this is indicative of the strategic importance of the alliance between Nigeria and Tanzania and signals the urgent need to build stronger bilateral relationship between both countries, and Africa at large” he said.

He commended Tanzania for remaining the main trade gateway for the five surrounding landlocked countries of the Great Lakes region comprising; The Democratic Republic of Congo, Rwanda, Burundi, Uganda and Zambia adding that Tanzania is blessed with abundance of natural resources such as gold, diamonds, copper, coal and recently discovered large deposits of natural gas along its coastline, which has encouraged investment and trade beyond tourism in Tanzania.
President of the Chamber, Dr Almujtaba Abubakar stated this on Tuesday at the Tanzania-Nigerian Tourism, Investment and Trade (TN-TIT) Forum held in Abuja.

He further noted that Tanzania’s Foreign Direct Investment records have shown that five major Nigerian companies have substantial capital investment in Tanzania adding that the companies include Dangote Group of companies, Sahara group, United Bank of Africa, Guaranty Trust Bank, and ECO Bank.

He further used the medium to condole with the Government and people of the country on the demise of her President.

He also congratulated Her Excellency, Samia Suluhu Hassan on her ascension as the President of the United Republic of Tanzania stating that “I wish her a successful and prosperous tenure”.

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