Nigeria and Benin Republic Forge Stronger Ties in Trade and Diplomacy

Nigeria and Benin Republic have recently initiated high-level talks to bolster their diplomatic and economic relations, with a focus on enhancing bilateral trade and implementing measures in other areas related to trade harmonization.

During a recent visit to the neighboring country, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led a delegation to discuss the strengthening of the Customs Union between the two countries, establishing a relationship of trust through collaboration, joint training, and personnel exchanges between the respective Central Banks, and facilitating debt recovery.

The Beninese government presented proposals to deepen the legal framework applicable to facilitate debt recovery and establish a permanent joint technical committee with extended powers to ensure the implementation of the bilateral agreement.

In response, Nigeria’s Minister of Finance, Mr. Edun, expressed appreciation for the Beninese government’s efforts and the political will demonstrated by the leaders of both countries.

He proposed that the finance ministers of Nigeria and Benin head the proposed permanent committee.

The Nigerian delegation, which included the Charge d’ Affaires a.i, Nigerian Embassy in Cotonou, Ambassador Saidu N. Tiggi, and the Comptroller of Customs, Seme Command, also discussed the need for efficient means of implementing the ideas of the leaders of both countries.

In addition to the high-level talks, Nigeria continues to strengthen its cultural, trade, and economic relations with the Republic of Benin, especially in customs border patrols, financial integration of payment systems between the two countries, and the harmonization of regulations along the borders.

With these recent developments, Nigeria and Benin Republic aim to create a stronger bond, fostering mutual growth and prosperity in the region.