Relations between Nigeria and Cote d’Ivoire are at the highest level of diplomatic engagement; robust and cordial. The Presidents of the two countries often interface on issues of utmost importance and mutual benefit. On a bilateral level, the two countries engage constructively through an established Bi-National Commission where agreements on mutual interests are signed. On a multilateral level, they collaborate and share similar positions in international fora such as the United Nations (UN), African Union (AU), Economic Community of West African States (ECOWAS) and many more.
The trade relations between both countries is largely informal. There is a high volume of trans-border trade activities among the peoples, which is unaccounted for and does not reflect in the official economic indices of the country’s trade relations, especially, exchanges on agricultural produce and petty trading. Officially, the volume of the countries’ trade is estimated at 623.822 Billion Naira equivalent to 860.874 Billion CFA Francs. The main commodities traded are crude petroleum, cranes, other floating structures, rolled tobacco, petroleum gas, refined petroleum, coffee and tea extracts and beauty products. In the Fiscal Year 2020, Nigeria’s total exports to Cote d’Ivoire was estimated at 899 Million US Dollars; while Cote d’Ivoire to Nigeria was 88.6m US Dollars.
The list of Nigerian businesses and companies in Cote d’Ivoire include, but is not limited to:
- United Bank of Africa PLC – Banking Sector.
- Guarantee Trust Bank PLC – Banking Sector
- Sahara Energy – Oil and Gas
- Ivoire Bat – Construction (Real Estate)
- Capitol Hotel – Hospitality
- Marc Anthony Spare Parts – Car Spare Parts
- Young Shall Grow Company Motors – Transportation
Trade between Nigeria and Cote d’Ivoire is usually facilitated through the Bi-National Commission. Some trade-related matters are embedded in the sections of the Agreements signed by both countries at the BNC. It could also be facilitated through the Chambers of Commerce, Manufacturers Associations and Public-Private Partnership arrangements.
The Nigerian Government has put in place an all-encompassing platform, the Ease of Doing Business as well as the Economic Recovery and Growth Plan, with information on the establishment of new businesses in Nigeria.
Nigeria has the largest market in Africa due to it steaming population and abundant natural resources. The Nigerian market avails enormous support unities to the intending Ivorian business operators who may wish to establish businesses in Nigeria, in all sectors of their interest. There are enormous economic opportunities to invest in Nigeria, such as oil and gas, extraction and mining, telecommunications, agriculture, tourism, culture, entertainment, energy industries, among others.
Economic and commercial activities between Nigeria and Cote d’Ivoire are mainly informal, save for a few officially recognized businesses as highlighted in paragraph 2B. For both countries to enjoy robust and effective trade relations, it’s important to explore the diversification of trade, such as entertainment, culture, agriculture, tourism, energy, manufacturing, etc. and the encouragement of private partnership arrangements under the auspices of the Joint Chambers of Commerce.
