(Business in Cameroon)—Former Nigerian President Olusegun Obasanjo will visit Cameroon’s Kribi deep-sea port this April to officially launch his company, Obasanjo Agro-Allied Business Ltd (OABL). The venture aims to boost cross-border trade between Nigeria and Cameroon, with investments across multiple sectors.
$700 Million Investment in Key Sectors
According to Agha Albert Ngwana, CEO of Aftel Cameroon Limited—a partner of Obasanjo’s group—OABL plans to invest $700 million (CFA 420 billion) in:
Agriculture – Expanding maize and soybean cultivation on 610 hectares to support livestock production. Maritime Transport – Introducing transshipment services to ease congestion at Nigeria’s Apapa and Lekki ports. Wood Processing – Developing a 10-hectare site for processing and export. Oil & Gas Infrastructure – Establishing storage facilities for ship refueling. Hospitality – Constructing a five-star hotel in Kribi.
Aligning with Kribi Port Expansion & AfCFTA Goals
Obasanjo’s investment coincides with Kribi Port’s Phase II expansion, completed in February 2025 by China Harbour Engineering Company (CHEC). The upgrade includes a 715-meter dock and is expected to improve cargo handling efficiency when commercial operations begin in April 2025.
The African Continental Free Trade Area (AfCFTA) stands to benefit, as OABL’s projects will enhance regional trade, economic development, and local production support.
Boosting Nigeria-Cameroon Trade Relations
Trade between the two nations reached CFA 78.9 billion ($130 million) in 2023, according to Cameroon’s National Institute of Statistics. However, authorities note that informal trade and smuggling significantly impact official figures due to the 1,500-km shared border.
Obasanjo’s initiative could formalize trade flows, create jobs, and position Kribi as a key West and Central African logistics hub.
