South African President Cyril Ramaphosa has reaffirmed his commitment to maintaining a strategic partnership with Nigeria, following the announcement that South Africa has become Nigeria’s top trading partner in Africa for the first quarter of 2024, with trade exceeding N1 trillion, according to the Nigerian Bureau of Statistics.
The South African government emphasized the importance of this partnership in promoting “economic integration” across Africa.
The announcement was made on Tuesday night via a tweet from the South African government, shortly after President Bola Tinubu’s arrival at Waterkloof Air Force Base for Ramaphosa’s inauguration as the re-elected president of South Africa.
Following his re-election by the South African parliament on Friday, Ramaphosa highlighted the strategic significance of the relationship between South Africa and Nigeria. The South African government listed key areas of cooperation, including the advancement of the African Agenda 2063, which is the African Union’s blueprint for transforming Africa into a global powerhouse in sectors such as agri-business, infrastructure, health, and education.
“South Africa regards Nigeria as a strategic partner in the context of bilateral relations, the West Africa region, and the continent in the pursuance of the African Agenda, South-South cooperation, and in the promotion of a rules-based international system. Our two countries share a common vision on issues of political and economic integration in Africa,” read the tweet from the South African government.
The emphasis on this partnership aims to ensure smooth relations with key stakeholders within and outside South Africa.
President Tinubu, through his aide Bayo Onanuga, congratulated Ramaphosa on his re-election and expressed his intention to build on the Nigeria-South Africa partnership. “President Tinubu called for the strengthening of bilateral ties between Nigeria and South Africa as strategic partners in Africa for the overall advancement of the continent,” Onanuga stated.
South Africa has emerged as Nigeria’s leading trading partner in Africa, surpassing other African countries in export and import activities. According to the NBS, in Q1 2024, Nigeria’s exports to African countries totaled N2,236.82 billion, with imports amounting to N401.83 billion. South Africa accounted for the majority of Nigeria’s exports within Africa, valued at N957.06 billion, while also being Nigeria’s primary import partner on the continent, with goods worth N97.33 billion.
This robust trade relationship underscores the mutual benefits and the potential for further economic collaboration between the two nations as they work towards shared goals within the African Agenda 2063 framework.
