ABUJA, 17TH MARCH, 2026
Chief Emeka Obegolu, SAN, President of the Abuja Chamber of Commerce and Industry;
Mr. Agabaidu Chukwuemeka Jidean, Director General of Abuja Chamber of Commerce and industry;
Executive Committee Members of ACCI here present;
ACCI Council Members here present;
Mr. Daudi Riganda, Investment Promotion Manager-Tanzania Investment and Special Economic Zone-Head of Delegation;
Mr. Sady Hamis Kambona-Director General of Tanzania Sisal Board;
Mr. Hamis Haji Dunia, Director of Special Economic Zones-Zanzibar Investment Promotion Authority;
Ms. Amina Morsad Lumuli, Director of Business Support-Tanzania Building Agency;
Mr. Amir Hamza Umar Esmail, Former Vice Chairperson of Tanzania National Chamber of Commerce and Chairman and CEO of Amir Hamza Tanzania Limited;
Distinguished Members of Abuja Chamber of Commerce and Industry here present;
Members of the Tanzania Delegation;
Members of the Media fraternity;
Ladies and Gentlemen;
Jambo and a very Good morning to you all.
Chief Emeka Obegolu, SAN, President of the Abuja Chamber of Commerce and Industry;
Mr. Agabaidu Chukwuemeka Jidean, Director General of Abuja Chamber of Commerce and industry;
Executive Committee Members of ACCI here present;
ACCI Council Members here present;
Mr. Daudi Riganda, Investment Promotion Manager-Tanzania Investment and Special Economic Zone-Head of Delegation;
Mr. Sady Hamis Kambona-Director General of Tanzania Sisal Board;
Mr. Hamis Haji Dunia, Director of Special Economic Zones-Zanzibar Investment Promotion Authority;
Ms. Amina Morsad Lumuli, Director of Business Support-Tanzania Building Agency;
Mr. Amir Hamza Umar Esmail, Former Vice Chairperson of Tanzania National Chamber of Commerce and Chairman and CEO of Amir Hamza Tanzania Limited;
Distinguished Members of Abuja Chamber of Commerce and Industry here present;
Members of the Tanzania Delegation;
Members of the Media fraternity;
Ladies and Gentlemen;
Jambo and a very Good morning to you all.
Mister President, honorable guests, distinguished ladies and gentlemen, thank you for joining us today as we meet to discuss matters of mutual interests between our two countries. I am truly honored to see such an esteemed audience and grateful for the opportunity to share and exchange notes on the investments and business opportunities available in Tanzania and Nigeria.
I wish to extend my profound appreciation to you Mister President, and through you to the entire management of the Abuja Chamber of Commerce and Industry led by the Director General my dear brother Agebaidu Chukwuemeka Jidean for successfully organizing this business forum. We have a Swahili proverb which says if you see them floating, know they have been made, Mister President, thank you for making it happen.
Ladies and Gentlemen,
Tanzania and Nigeria maintain strong and deep-rooted diplomatic relations anchored in principles of building trust and protecting mutual interests for more than half a century since the establishment of formal diplomatic ties. Our countries see eye to eye on a number of continental and international matters of our common interests. We have a long history of cooperation. In April, 1964 following the Tanganyika Rifles mutiny a helping hand was felt from Nigeria. A contingent of Nigerian Army led by Lt. Col. Yakubu Pam deployed with mandate of rebuilding the loyal national army giving birth to the Tanzania People’s Defense Forces (TPDF). When Tanzania was leading the frontline states for the liberation struggle against apartheid and colonialism of the southern African countries in late 1970’s to 1980’s Nigeria despite not being geographically located played a pivotal role by providing tangible financial, military and diplomatic support to the liberation movements. I am mentioning these cases, to remind ourselves on how far we have come from in our relations as we seek to elevate into further higher heights.
Mister President, ladies and gentlemen,
Our bilateral relations have forged a partnership and to some extent achieved tangible mutual benefits across several sectors, including tourism, investments, finance, military, trade and real estate to mention a few. However, we should also admit that recorded achievements do not match the existing potentials. In fact, more efforts are needed if we are to navigate into people-to-people engagements. According to the African Continental Free Trade Area, data base between 2024/2025 Tanzania’s total export to Nigeria remain modest in absolute value approximately at USD 21.5 millions compared with exports to the global market amounting to about USD 8.7 billion in 2024 reflecting the relatively small bilateral trade volume with Nigeria. Nigeria amounts to 0.25 per cent of Tanzania’s exports compared to the main destinations. On the other hand, Nigeria’s exports to Tanzania accounts for only 0.01 per cent equivalent to 881,000 USD. On Foreign Direct Investments, according to the Tanzania Investment and Special Economic Zones Authority between 1997 to January, 2025, Tanzania has attracted investments worth USD 1. 369 billion from Nigeria which have generated about 2,253 jobs in various sectors such as agriculture, infrastructure, manufacturing, transport, finance and tourism. Thanks to Dangote Industries, Sahara Energy, UBA Bank, GTB Bank just to mention a few.
Minister President, ladies and gentlemen,
These numbers are a reminder that we must run while others walk if we are determined to contribute to economic growth and people’s prosperity through trade and investments in our two countries. This stubborn fact is even more relevant today as we witness an increase of geopolitical conflicts and protectionism policies characterized by an increased use of non-tariff measures, such as subsidies, import bans and regulatory barriers by global superpowers. Such a business forum, therefore, is important as it helps to take stock of what have been achieved, digest the underlying challenges and coming up with concrete and actionable strategies for improvement.
Mr. President,
Since assuming the leadership of country, Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania continuous to spearhead vibrant and sound economic policies that have contributed to stability of macro-economic fundamentals. Tanzania has maintained a robust economic growth for the past decade, despite facing multiple shocks. Real GDP growth has been on average of 6% growth for the period of 2014-2024, peaking at 7% in 2019 before dropping to 4.8% in 2020 due to COVID-19 related challenges.
GDP growth has been largely driven by agriculture, tourism, financial services, trade, construction and mining on the supply side. Growth is projected to maintain the pace at 6% in 2026 Inflation remains within the medium-term target of the Central Bank of Tanzania by 5%. In 2024 the inflation declined to 3% from 3.8% of 2023. As of February, 2026, Moody’s ratings affirmed Tanzania’s long term local and foreign-currency issuer ratings at B1 with a stable outlook while Fitch Ratings has affirmed Tanzania at B+ with stable outlook.
Mister President, ladies and gentlemen,
To ensure continuity and sustainable growth, the government of the United Republic of Tanzania has inaugurated Vision 2050 which will guide the country’s economic course for the next 25 years. Through the Vision 2050, Tanzania is looking forward of becoming an upper middle-income-country of more than 118 million people, with a one-trillion-dollar economy and an average GDP per capita of US dollar 7,000. Agriculture, tourism, manufacturing, construction and real estate, mining, blue economy, sports and creative industry, financial and service sector have been identified as transformative with the potential to realize the goals and targets. This mission and in particular our todays forum serves as an invitation to all members of the Abuja Chamber of Commerce and Industry to join us as we embark on this ambitious journey of building a prosperous Tanzania. As Mwalimu Julius Kambarage Nyerere said, I quote…..it can be done, just play your part…end of quote. You are welcome to play your part.
Mr. President and dear participants, we often attribute to the challenges of connectivity as one of the challenges for a low level of trade among African countries. I am happy to inform you that since September last year Air Tanzania is connecting Dar es Salaam and Lagos three times a week bringing together the economic power houses of east and west Africa. My appeal to you is simple take advantage which comes with seamless connectivity to advance investments and business opportunities in line with the continental free trade.
As I conclude, allow me Mr. President to once again extend my sincere appreciation to you and the entire management of ACCI for the cooperation extended to the High Commission during the preparations of this important forum. I also wish to thank all participants who have found time from their busy schedule to attend this forum.
It is my hope that B2B engagements will set foundations for more constructive business deals in the future.
May God bless the Federal Republic of Nigeria, May God bless the United Republic of Tanzania, May God bless LCCI.
I thank you for your kind attention.
Ahsanteni sana!
Mister President, honorable guests, distinguished ladies and gentlemen, thank you for joining us today as we meet to discuss matters of mutual interests between our two countries. I am truly honored to see such an esteemed audience and grateful for the opportunity to share and exchange notes on the investments and business opportunities available in Tanzania and Nigeria.
I wish to extend my profound appreciation to you Mister President, and through you to the entire management of the Abuja Chamber of Commerce and Industry led by the Director General my dear brother Agebaidu Chukwuemeka Jidean for successfully organizing this business forum. We have a Swahili proverb which says if you see them floating, know they have been made, Mister President, thank you for making it happen.
Ladies and Gentlemen,
Tanzania and Nigeria maintain strong and deep-rooted diplomatic relations anchored in principles of building trust and protecting mutual interests for more than half a century since the establishment of formal diplomatic ties. Our countries see eye to eye on a number of continental and international matters of our common interests. We have a long history of cooperation. In April, 1964 following the Tanganyika Rifles mutiny a helping hand was felt from Nigeria. A contingent of Nigerian Army led by Lt. Col. Yakubu Pam deployed with mandate of rebuilding the loyal national army giving birth to the Tanzania People’s Defense Forces (TPDF). When Tanzania was leading the frontline states for the liberation struggle against apartheid and colonialism of the southern African countries in late 1970’s to 1980’s Nigeria despite not being geographically located played a pivotal role by providing tangible financial, military and diplomatic support to the liberation movements. I am mentioning these cases, to remind ourselves on how far we have come from in our relations as we seek to elevate into further higher heights.
Mister President, ladies and gentlemen,
Our bilateral relations have forged a partnership and to some extent achieved tangible mutual benefits across several sectors, including tourism, investments, finance, military, trade and real estate to mention a few. However, we should also admit that recorded achievements do not match the existing potentials. In fact, more efforts are needed if we are to navigate into people-to-people engagements. According to the African Continental Free Trade Area, data base between 2024/2025 Tanzania’s total export to Nigeria remain modest in absolute value approximately at USD 21.5 millions compared with exports to the global market amounting to about USD 8.7 billion in 2024 reflecting the relatively small bilateral trade volume with Nigeria. Nigeria amounts to 0.25 per cent of Tanzania’s exports compared to the main destinations. On the other hand, Nigeria’s exports to Tanzania accounts for only 0.01 per cent equivalent to 881,000 USD. On Foreign Direct Investments, according to the Tanzania Investment and Special Economic Zones Authority between 1997 to January, 2025, Tanzania has attracted investments worth USD 1. 369 billion from Nigeria which have generated about 2,253 jobs in various sectors such as agriculture, infrastructure, manufacturing, transport, finance and tourism. Thanks to Dangote Industries, Sahara Energy, UBA Bank, GTB Bank just to mention a few.
Minister President, ladies and gentlemen,
These numbers are a reminder that we must run while others walk if we are determined to contribute to economic growth and people’s prosperity through trade and investments in our two countries. This stubborn fact is even more relevant today as we witness an increase of geopolitical conflicts and protectionism policies characterized by an increased use of non-tariff measures, such as subsidies, import bans and regulatory barriers by global superpowers. Such a business forum, therefore, is important as it helps to take stock of what have been achieved, digest the underlying challenges and coming up with concrete and actionable strategies for improvement.
Mr. President,
Since assuming the leadership of country, Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania continuous to spearhead vibrant and sound economic policies that have contributed to stability of macro-economic fundamentals. Tanzania has maintained a robust economic growth for the past decade, despite facing multiple shocks. Real GDP growth has been on average of 6% growth for the period of 2014-2024, peaking at 7% in 2019 before dropping to 4.8% in 2020 due to COVID-19 related challenges.
GDP growth has been largely driven by agriculture, tourism, financial services, trade, construction and mining on the supply side. Growth is projected to maintain the pace at 6% in 2026 Inflation remains within the medium-term target of the Central Bank of Tanzania by 5%. In 2024 the inflation declined to 3% from 3.8% of 2023. As of February, 2026, Moody’s ratings affirmed Tanzania’s long term local and foreign-currency issuer ratings at B1 with a stable outlook while Fitch Ratings has affirmed Tanzania at B+ with stable outlook.
Mister President, ladies and gentlemen,
To ensure continuity and sustainable growth, the government of the United Republic of Tanzania has inaugurated Vision 2050 which will guide the country’s economic course for the next 25 years. Through the Vision 2050, Tanzania is looking forward of becoming an upper middle-income-country of more than 118 million people, with a one-trillion-dollar economy and an average GDP per capita of US dollar 7,000. Agriculture, tourism, manufacturing, construction and real estate, mining, blue economy, sports and creative industry, financial and service sector have been identified as transformative with the potential to realize the goals and targets. This mission and in particular our todays forum serves as an invitation to all members of the Abuja Chamber of Commerce and Industry to join us as we embark on this ambitious journey of building a prosperous Tanzania. As Mwalimu Julius Kambarage Nyerere said, I quote…..it can be done, just play your part…end of quote. You are welcome to play your part.
Mr. President and dear participants, we often attribute to the challenges of connectivity as one of the challenges for a low level of trade among African countries. I am happy to inform you that since September last year Air Tanzania is connecting Dar es Salaam and Lagos three times a week bringing together the economic power houses of east and west Africa. My appeal to you is simple take advantage which comes with seamless connectivity to advance investments and business opportunities in line with the continental free trade.
As I conclude, allow me Mr. President to once again extend my sincere appreciation to you and the entire management of ACCI for the cooperation extended to the High Commission during the preparations of this important forum. I also wish to thank all participants who have found time from their busy schedule to attend this forum.
It is my hope that B2B engagements will set foundations for more constructive business deals in the future.
May God bless the Federal Republic of Nigeria, May God bless the United Republic of Tanzania, May God bless LCCI.
I thank you for your kind attention.
Ahsanteni sana!
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