Nigeria, Egypt sign agreement to boost trade

The Nigerian government and the Egyptian government have signed a Memorandum of Understanding to boost trade relations between the two African countries.

Nigeria, represented by the Federal Competition and Consumer Protection Commission (FCCPC), and Egypt, represented by the Egyptian Competition Authority (ECA) signed the MOU in Cairo on Thursday.

Nigerian delegations at the event included the Ambassador of Nigeria to Egypt, Ambassador Nura Rimi, and the executive vice chairman of the FCCPC, Babatunde Irukera.

The negotiations between the FCCPC and the ECA about ways to strengthen competition law and policy within their respective agencies started in 2019.

According to the management of the Nigerian agency, the FCCPC’s primary responsibilities include safeguarding consumers and fostering fair competition in Nigeria. All actions, conduct, and business dealings within Nigeria are covered by the FCCPC.

“In this regard, the FCCPC and ECA have solidified their engagements in a Memorandum of Understanding”, a statement from the FCCPC read.