Investment and Foreign Trade Minister Mohamed Farid Saleh stressed that Nigeria is an important economic and investment partner for Egypt and a promising market for Egyptian companies and products. Farid noted that the ministry is working to deepen cooperation with African countries and open new areas for investment and trade to support economic integration across the continent.The remarks came during two meetings held by the minister with Nigeria’s Interior Minister Olubunmi Tunji-Ojo and Commissioner for Insurance Olusegun Ayo Omosehin on the sidelines of his participation in the eighth ministerial meeting of the African Continental Free Trade Area (AfCFTA) in Abuja, Nigeria.
The minister said trade between Egypt and Nigeria reached $223 million in 2025, while Egyptian exports to Nigeria totaled around $51 million in the first quarter of the year, compared with imports worth $5 million. The two sides discussed cooperation opportunities in digital identity and electronic customer verification systems (e-KYC).
The Egyptian side presented its experience in developing an advanced digital identity system, describing it as a successful model that could benefit African countries. They agreed to hold technical meetings with the participation of specialized Egyptian companies to explore joint projects in digital identity and digital transformation.The minister added that talks with the Nigerian National Insurance Commission head focused on strengthening cooperation in insurance and financial services, as well as partnership opportunities in healthcare, health insurance, pharmaceutical industries and medical tourism to support joint investments between the two countries.
He highlighted the importance of facilitating the registration of Egyptian medicines in Nigeria and organizing an Egyptian investment mission including pharmaceutical companies, private hospitals and medical insurance firms to explore investment opportunities.
The two sides also discussed a possible visit by officials from Egypt’s sovereign wealth fund to Nigeria to examine cooperation opportunities in healthcare, digital transformation and digital identity. At the conclusion of the meetings, both sides agreed to continue coordination and hold technical meetings to develop mechanisms for implementing joint cooperation projects, supporting the transfer of Egyptian expertise, increasing investment and trade, and strengthening the presence of Egyptian companies in the Nigerian and African markets.