Nigeria's NGX Chairman Praises Ethiopia's Progress, Sees Stronger Ties
Dr Umaru Kwairanga, the Chairman of the Nigerian Exchange Group (NGX), has praised Ethiopia's economic progress and its warm hospitality during his recent visit. He also commended the country's efforts in preserving its rich history while undertaking transformative development projects.
Dr Kwairanga's visit comes as the NGX played a significant role in establishing the Ethiopian Stock Exchange, holding a 10 per cent equity stake. He expressed optimism about stronger ties between Nigeria and Ethiopia, highlighting their shared similarities such as large populations and resilience. Nigeria supports Ethiopia's economic reforms, particularly in capital market development.
A notable project that caught Dr Kwairanga's attention is the new $3 billion Dangote Fertiliser Plant in Ethiopia. Alhaji Aliko Dangote, Africa's richest man and founder of the Dangote Group, recently invested in this 'gigantic project'. The plant aligns with Dangote's vision and execution capacity, operating in multiple industries like cement, sugar, and flour.
Dr Kwairanga's visit and commendations underscore the growing economic cooperation between Nigeria and Ethiopia. The $3 billion Dangote Fertiliser Plant in Ethiopia is expected to boost the country's agricultural sector and further strengthen ties between the two nations.
