South African President Cyril Ramaphosa recently vowed to uphold a strategic partnership with Nigeria.
In the first quarter of 2024, South Africa became Nigeria’s top trading partner in Africa. with trade between the two countries surpassing N1 trillion, the Nigerian Bureau of Statistics (NBS) reported this milestone, showcasing the dynamic and growing trade relationship.
The notable achievement highlights the strengthening economic ties between these two leading African economies.
The impressive trade figures reflect a wide range of goods and services exchanged, showcasing successful economic strategies and mutual interests. Both nations have been actively working to enhance their bilateral trade and investment opportunities, aiming for sustainable economic growth. The NBS data underscores the potential for further collaboration and the benefits of a strong commercial partnership.
From the achievement, South African President Cyril Ramaphosa pledged to maintain and strengthen the strategic partnership with Nigeria. His commitment emphasizes the importance of their relationship and the desire to explore new areas of cooperation. This ongoing collaboration is expected to foster economic development and stability for both countries, reinforcing their positions as major players on the African continent.
On Tuesday night, the South African government announced on social media following Tinubu’s arrival at Waterkloof Air Force Base for Ramaphosa’s inauguration as the reelected president of South Africa.
“South Africa regards Nigeria as a strategic partner in the context of bilateral relations, the West Africa region, and the continent in the pursuance of the African Agenda, South-South cooperation and in the promotion of a rules-based International System.
“Our two countries share a common vision on issues of political and economic integration in Africa,” the South African government tweeted.
Ramaphosa’s assurance is aimed at ensuring smooth relations with key stakeholders within and outside South Africa.
What President Tinubu said about Ramaphosa
In an earlier statement from President Bola Tinubu’s aide, Bayo Onanuga, Tinubu congratulated Ramaphosa on his re-election while promising to build on the Nigeria-South Africa partnership.
“President Tinubu called for the strengthening of bilateral ties between Nigeria and South Africa as strategic partners in Africa for the overall advancement of the continent.”
Partnership
- The South African parliament had re-elected Ramaphosa on Friday.
- The Southern Government maintained that it views Nigeria as a strategic partner in Africa.
- The South African side itemized the areas of relations with Nigeria to include the promotion of the African agenda.
- The African Agenda 2063 is the African Union’s (AU) blueprint and master plan for transforming Africa into a global powerhouse in agri-business, infrastructure development, health and education.
- South Africa and Nigeria, being among the largest economies in Africa, are central to the achievement of the Africa Agenda.
Trade between the two countries
- South Africa topped other African countries in terms of export and import deals with Nigeria.
- According to NBS, in Q1, 2024, export values to African countries stood at N2,236.82 billion, while imports amounted to N401.83 billion.
- NBS stated that Nigeria’s exported products in Africa were mainly to South Africa (N957.06 billion) while South Africa remained Nigeria’s major importing partner in Africa with goods valued at N97.33 billion.
“Ivory Coast (N744.59 billion), Senegal Republic (N361.29 billion), Benin rep. (N55.67 billion) and Togo (N38.01 billion) representing 96.41% of exports to Africa,” the NBS stated.