Tinubu, Ramaphosa discuss enhancing economic cooperation

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Nigeria’s President Bola Tinubu has held talks with his South African counterpart, Cyril Ramaphosa, seeking more economic cooperation between the two countries. The two African leaders met in New York, where they are both attending the ongoing UN General Assembly.

Tinubu has been keen on attracting more investments into the country as he embarks on what has been described as Nigeria’s boldest reforms in decades, removing subsidies on petrol and lifting foreign exchange trading restrictions.

President Ramaphosa pledged that South Africa will explore greater partnership with Nigeria and hailed President Tinubu’s “brave” economic reforms. He added that Nigeria and South Africa are two major economies on the African continent, and it is important that both countries deepen economic ties, particularly in light of the African Continental Free Trade Agreement. According to the International Monetary Fund, their combined GDP is projected to hit $1.8 trillion.