With a population of about 53 million people and a GDP of close to 350 billion US Dollars, South Africa is considered as a buoyant economy. Additionally, as an emerging economy with requisite technological know-how, South Africa will by all means represent a suitable partner with Nigeria in our quest for growth and national development. With the precarious economic situation of Nigeria arising from fall in oil prices, the seeming renewal of economic cum diplomatic relations between Nigeria and South Africa will greatly impact positively on the country.
It is therefore illustrative that the South African President Mr. Jacob Zuma’s state visit to Nigeria in company of over 150 businessmen and potential investors is instructive. Nigeria as a country is in a situation where in her bid to diversify her sources of revenue, is exploring other areas, especially manufacturing, mining and agriculture. Incidentally, these are the major areas of the emerging economic blueprint of the President Muhammadu Buhari administration and they are in tandem with the capacity of South Africa as a potential partner to deliver to Nigeria.
There is no doubt that President Buhari’s economic blueprint for Nigeria which will include eliminating bottlenecks to businesses and offering incentives to foreign investors is beginning to yield desired result. Our reset with South Africa wherein her President led some of the country’s biggest businessmen on a state visit to Nigeria signposts a new dawn in our bilateral relations with South Africa.
Since 1999 the number of major South African companies operating in Nigeria has risen to about 120. What this translates to is that both countries’ relations have become more robust and has the potential to improve. It is estimated that at least eighty bilateral agreements have been signed by both countries to boost trade, investment and diplomatic relations.
Nigeria with a population of about 173 million people and gross domestic product of nearly 521 billion US Dollars offers the South African businesses a huge market for her products and services.
It is equally remarkable that the South African government is offering its support to Nigeria in the war against terrorism. Already, Nigerian defence officials have signed agreement with their South African counterparts for the deployment of that country’s Special Forces to assist in the war against terrorism.
This reset of bilateral cooperation appears to be a reciprocal action for Nigeria’s many decades of support to South Africa especially during the years of anti-apartheid struggle. Gladly, the South African president during his address to the joint session of the National Assembly had acknowledged the role of Nigeria in helping his country in their years of struggle for emancipation from the clutches of apartheid.
It is also pertinent to note that the new interest being developed in Nigeria by South Africa is easily traceable to political and economic reengineering being carried out by the President Muhammadu Buhari administration. The openness and sincerity the president has brought to bear in statecraft has greatly restored the confidence of the international community to Nigeria.
South Africa as a country is famous for its advancement in technology. In this regard, Nigeria stands to benefit from South Africa’s experience in mining, auto assembly, metal work, machinery, textiles, iron and steel, chemicals, fertilizers, foodstuffs and commercial ship repairs. It is worthy of note that South Africa is the world largest producer of platinum and chromium.
In the desire of the Buhari administration to diversify Nigeria’s economy, there is no doubt that South Africa’s time-tested knowledge in mining will be of immense value and advantage to Nigeria. With the visit of South African President to Nigeria, and considering their huge investments in Nigeria, it is expected that on the basis of reciprocity, that measures will be put in place to balance trade between both countries as well as strengthen their diplomatic relations. President Buhari’s strategy of exploring new business and diplomatic channels for our overall national development should indeed be commended, and given all necessary support.
President Zuma’s visit also afforded both leaders the opportunity to iron out issues surrounding the incessant molestation of Nigerians resident in South Africa. These attacks on innocent Nigerians by their South African counterparts are seen in many quarters as xenophobic, and all efforts should be made to address the problems that may likely provoke such emotional hatred and outburst.
Nigeria’s partnership with South Africa ought to be anchored on mutual respect, love and understanding. Similarly, the visit afforded both leaders the opportunity to iron out differences on the issue of the fine against South Africa’s MTN by the NCC. Hopefully, the message will be delivered on the need for MTN and indeed other companies operating in Nigeria to obey the laws of their host country by abiding with the regulations in their respective sectors. It needs no telling that such acts of omission or commission tantamount to a breach in our national security as they undermine our economy and by extension the political stability of the nation.
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