Public Management

Newly constructed 1.5km border bridge to boost trade between Nigeria and Cameroon

Newly constructed 1.5km border bridge to boost trade between Nigeria and Cameroon
Tuesday, 27 July 2021 14:32

Nigeria’s Federal Minister of Works and Housing, Babatunde Fashola, yesterday while inspecting the newly constructed 1.5km bridge on the border between Nigeria and Cameroon said the two-lane bridge will facilitate trade between both countries.

According to reports from the News Agency of Nigeria, the construction of the project worth $35.9 billion started on April 28, 2017, and was completed in March 2021. Funding for the bridge, which is located in Ekot-Mfum, Etung Local Government Area of Cross River, came from both countries.   

“This is the first shoot of the harvest of completed projects proposed as the administration enters the second phase of the second term on its way out, ” said Fashola. “We have had a strong relationship with the Republic of Cameroon in terms of trade and business,” he added.

The minister also pointed out that the Aba, Enugu, and Abakaliki are on the route that facilitates trade in agro-produce, merchandise, and manufactured goods. In the same vein, he said: “Nigeria is now a signatory to the Africa Continental Free Trade Agreement. So, this is infrastructure that positions both nations to take the benefit of the trade that agreement holds. It is really exciting. Looking into the future you can only see more business, more trade, and employment meant for people.”

Cameroon is one of Nigeria’s largest trading partners. According to statistics from the International Trade Centre, Cameroon is the second African partner country, after South Africa, that imports from Nigeria. Despite the disruptions caused by the pandemic, export values from Nigeria to Cameroon grew from $888,690 in 2019 to $1,152,034 in 2020. However, there is still a gap in terms of imports and exports between both countries, Cameroon’s imports from Nigeria fell from $10,906 in 2019 to $4,247 in 2020.

Solange Che

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Bank of Africa net income rose 12% to 3B dirhams by Sept. 2025 Growth driven by 17% rise in interest income, strong loan performance Credit cleanup,...
Egypt signs €53.8 million deal under the Green Sustainable Industries program Funding targets pollution cuts, energy savings, and resource...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing without IMF-recommended debt restructuring Eligible...
PIC raises its commitment to Enko Impact Credit Fund, reaching 86.7% of its target. The fund provides dollar-denominated private credit to mid-sized...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
05

Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...

Chad Reports Second Vandalism Attack on Key Internet Cable in Two Weeks
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.