In order to advance economic cooperation between the two greatest economies in Africa, Nigerian President Bola Tinubu met with South African President Cyril Ramaphosa in New York, according to a statement released by his spokesperson on Monday.
According to a joint statement, the two African leaders met before the UN General Assembly, which is set to begin this week.
According to Tinubu, both nations may work together in the mining and telecommunications sectors to “deliver jobs” in a way that is mutually beneficial to both parties.
“We can collaborate in a mutually beneficial way that enriches our populations,” Tinubu said, adding that both countries can cooperate in the mining and telecommunications industries to help “deliver jobs”.
Tinubu has started Nigeria’s most daring changes in decades, eliminating a well-liked but expensive gasoline subsidy and easing restrictions on foreign exchange trading. With record debt, sluggish growth, and double-digit inflation, he has vowed to revitalize the economy.
Tinubu’s “brave” economic changes were praised by President Ramaphosa, who also committed South Africa to exploring new opportunities for engagement with Nigeria.
“We are two major economies on our continent, and it is important that we deepen economic ties, particularly in light of the African Continental Free Trade Agreement,” Ramaphosa said.
“We would love to see Nigeria and South Africa working closely together on a number of issues because whenever we join hands, we have made an impact globally through those joint positions,” he said.
In order to help Africa fight rising poverty and economic difficulties, Tinubu also asked South Africa to join Nigeria in calling for changes of international financial institutions.
Tinubu said, “We must join hands and agree that International Finance Institutions require reform as Africa is not to be a ground for economic scavenging any longer, but it is a place with gifted people that is ready for investment and cooperation.”
In an effort to raise money from around the world for infrastructure development, Tinubu, who is in New York for his first U.N. General Assembly as president of Nigeria, will also meet with officials from Microsoft, Meta, and Exxon Mobil.