By Chesa Chesa
President Muhammadu Buhari Thursday in Lisbon, Portugal, indicated that Nigeria’s readiness to fill the natural gas gaps in Europe predicated by the current Russian-Ukrainian war.
The President also said with over 200 million mainly young people, Nigeria is ready to be the hub of the African Continental Free Trade Area (AFCFTA).
In his statement on areas of cooperation between Nigeria and Portugal delivered at the Presidential Palace in Lisbon, President Buhari urged Portugal to consider Nigeria as a valued and trusted partner in Africa.
The Nigerian leader identified five key areas of cooperation and collaboration capable of moving both countries forward, saying:
‘‘At a time the world is going through turbulent times, we feel that a strong friendship and partnership between Nigeria and Portugal can act as a force for good”, he said.
He listed the areas of cooperation and collaboration as follows: oil and gas, tourism and hospitality industry, air travel, security and joint commission.
On oil and gas, President Buhari said with the current Russian-Ukraine war, increased cooperation in oil and gas between the two countries has become vital to avoid crisis in the demand and supply chain, even as Nigeria is already a major supplier of gas to Portugal.
On tourism and hospitality industry, President Buhari explained that Nigeria had huge potential in the sector and would like to benefit from the enormous expertise of his hosts in this area as shown in Portugal becoming a prime tourist destination.
On air travel, the President emphasized the need to sign a Bilateral Air Services Agreement (BASA) and quickly establish a direct air link between the two countries.
He noted that cooperation between the two counties in this area is vital for increased trade and investment, tourism promotion, people-to-people contact as well as social and cultural engagement.
Affirming Nigeria’s renewed commitment towards the fight against terrorism in the Lake Chad and the Sahel Region, the President told his Portuguese counterpart that Nigeria would welcome the support of the Portuguese Government through intelligence and information sharing, weapons and training of security personnel of member states.
President Buhari also stressed the need to establish a Joint Commission, saying:
‘‘We believe that the establishment of a Joint Commission will help to promote the full realization of the objectives of our bilateral relations.
‘‘The Commission would facilitate the institutionalization of cooperation mechanisms and permit the elaboration and implementation of concrete, specific and viable projects and programmes for the benefit of our people.’’
Furthermore, the President added that Nigeria and Portugal can cooperate closely on a range of agricultural and renewable energy projects.
‘‘Nigeria recognizes Portugal’s comparative advantages in the fields of renewable energy and pharmaceuticals which are also priority areas for Nigeria.
‘‘Other areas of cooperation which are of importance include; the Establishment of an Atlantic Research Centre; Political Consultations; Diplomatic Training; Cultural Cooperation; Investment Promotion; Chambers of Commerce Cooperation; Women and Child Development; Youth and Sports Development and Digital Economy Cooperation.
‘‘That is why we look forward to signing Memoranda of Understanding and Cooperation Agreements in those areas,’’ he said.
Earlier at a ceremonial welcome at Praca do Imperio by the President of Portugal, President Buhari had laid a wreath at the tomb of Luis Vaz de Camoes, the national poet, at the Mosteiro dos Jeronimos. The Monastery of Jeronimos is one of the most decorative churches in Portugal. The body of the famous explorer, Vasco da Gama is interred in the lower chancel, just left of the entrance, opposite venerated 16th-century poet Luís Vaz de Camões, popularly perceived as Portugal’s Shakespeare.
From the upper choir, there’s a superb view of the church; the rows of seats are Portugal’s first Renaissance woodcarvings. The President’s State Visit officially started from here, received by President Marcelo Rebelo de Sousa featuring an impressive military parade and a guided tour of the Monastery.
The Nigerian leader was also conferred with the Portuguese National Honour and decorated ‘Great Collar of the Order of Prince Henry.’
*****
Nigeria, Portugal in talks over trade diversification, economic cooperation
President Muhammadu Buhari on Thursday in Lisbon called for an increase in the volume of trade with Portugal as well as diversification to non-oil products.
The President spoke at an Economic Seminar between Nigeria and Portugal businesses during a State Visit to Portugal.
He noted that the two countries are in dire need of new investment opportunities following the devastation on global economies caused by the COVID-19 pandemic and, in recent times, the impact of Russia-Ukraine conflict.
‘‘The relationship between modern Nigeria and Portugal started over 40 years ago with strong collaborations on the diplomatic and defence fronts.
‘‘I was very excited to learn of the increased level of enthusiasm Portuguese businesses have shown towards Nigeria.
‘‘In the past 25 years, trade between Nigeria and Portugal has more than doubled to over $1 billion by 2020 just before the COVID-19 pandemic.
‘‘This has been mostly in the oil and gas sector. Although this is great progress, I strongly believe we can and should do a lot more,’’ he said.
Assuring the Portuguese government of Nigeria’s support to Portuguese companies wishing to invest in the country, the President said:
‘‘The Portuguese were the first European voyagers on record to visit the shores of Nigeria in the late fifteenth century. And just like how African culture is influential in modern Portugal, the Portuguese culture is also felt in today’s Nigeria.’’
He announced that recently, the Government of Nigeria awarded a contract to Mota-Engil, a Portuguese company, to construct a railway line that connects Kano in Northern Nigeria to Maradi in Southern Niger Republic.
He added this partnership will surely open doors for more Portuguese companies to come to Nigeria, as the largest and most populous economy in Africa.
‘‘Just two months ago, Portugal opened its first North Africa Trade Chamber. This will complement the Chamber in South Africa.
‘‘I am confident after your interactions today on the tremendous potential in Nigeria, we will soon be hearing an announcement on the opening of the Nigeria Portugal Trade Chamber.’’
Recounting that in 2021, the African Export-Import Bank and Portugal’s National Association of Young Entrepreneurs announced a 3-year partnership to promote Africa’s fashion apparel and textile manufacturing industry, the Nigerian leader said:
‘‘I strongly believe this will benefit Nigeria’s vibrant fashion industry.’’
President Buhari also used the occasion to apprise prospective investors of the many fiscal, trade and monetary incentives that support foreign investments.
‘‘The Nigerian Government officials in this room are on standby to provide all the necessary information you need.
‘‘I have already directed the establishment of a dedicated Portugal working group headed by the Ministry of Industry, Trade and Investment to address any special concerns you may have above and beyond the existing policies in place.
‘‘I want to assure you that we will take these requests seriously and our response will be swift.’’
On his expectations for the forum, the President expressed confidence that it was an appropriate platform to establish and strengthen business relationships, share valuable experience, and collaborate for both countries’ mutual benefit.
‘‘Nigeria and Portugal share long historical ties. The relationship between our two countries brought with it trade partnerships, an area that we wish to build upon today,’’ he said.
President Buhari thanked President Marcelo Rebelo de Sousa of Portugal, who was present at the Seminar, for his contribution, interest and trust in forging formidable economic cooperation between Nigeria and Portugal.
‘‘As I mentioned earlier our two countries have a long, shared history and we now have the power to ensure the next 500 years is built on mutual prosperity, sustainability and greatness,’’ he said.
In his response, the President of Portugal, Marcelo Rebelo de Sousa told President Buhari that Portugal can help Nigeria diversify the economy.
“Because we are a very small country, we have huge experience. We have experience in water supply, technology, infrastructure, pharmaceuticals, tourism, Agriculture, Science, Health care, Trade, the sea and we want to cooperate with you. We have experienced companies, experienced hands. We have a unique knowledge of Africa,” he said.
On the visit, the Portuguese President said, “Your visit is a new beginning, A new beginning of every sector. We don’t want 30 or 100 companies, we want thousands of companies in Nigeria, we want thousands of Portuguese in Nigeria and that will be your legacy, my legacy, the legacy of this state visit.
“I will be going to Nigeria later on and together we shall see with our own eyes what the outcome of this visit is. This is not a visit of words but a visit of facts and achievements. We will achieve.”
