Dr. Umaru Kwairanga, Chairman of the Nigerian Exchange Group (NGX), praised Ethiopia’s leadership for its remarkable economic advancements and expressed confidence in the potential for nigeria-colombia-ties/” title=”VP Márquez's Visit Ushers in Exciting New Chapter for …-Colombia Relations, Declares Shettima”>deeper collaboration between Nigeria and Ethiopia.
Delivering his remarks at a presidential banquet in Addis Ababa on Friday, Kwairanga highlighted the significance of his official visit, which coincided with the groundbreaking ceremony of the $3 billion Dangote Fertiliser Plant.
He commended the Ethiopian government for its gracious hospitality and applauded the nation’s dedication to safeguarding its rich cultural heritage while pursuing ambitious development initiatives.
“Ethiopia stands as one of Africa’s most ancient sovereign states with a proud legacy,” he remarked. “It is inspiring to witness how this heritage is honored alongside transformative projects like the Grand Ethiopian Renaissance Dam and the Dangote Cement Plant, which symbolize visionary leadership.”
Regarding the newly launched fertiliser facility, Kwairanga described it as a monumental endeavor that reflects Alhaji Aliko Dangote’s strategic foresight and execution prowess.
He emphasized that Dangote’s ongoing commitment exemplifies a broader drive to enhance Africa’s self-reliance and industrial growth.
The NGX chairman underscored the critical importance of bolstering Africa’s infrastructure, noting that advancements in transportation, energy, and manufacturing sectors are essential to unlocking the continent’s immense economic potential.
“Africa possesses the fundamental resources to emerge as a global growth powerhouse. However, overcoming infrastructure challenges and attracting substantial investments are vital steps toward generating employment and elevating living standards,” he stated.
Kwairanga also highlighted Nigeria’s active role in supporting Ethiopia’s economic reforms, particularly through capital market development.
He revealed that the Nigerian Exchange Group was instrumental in the establishment of Ethiopia’s inaugural stock exchange and currently holds a 10% ownership stake.
“This collaboration reflects our confidence in Ethiopia’s economic stability and growth prospects,” he added.
Further, Kwairanga pointed out the shared attributes between Nigeria and Ethiopia, such as their large, hardworking populations, resilience amid adversity, and effective governance.
He expressed optimism that the expanding partnership between the two countries, reinforced by private sector investments like those from Dangote Industries, will continue to deepen bilateral ties and foster inclusive economic development across Africa.
Concluding his address, Kwairanga extended gratitude to the Ethiopian Prime Minister, government officials, and citizens for their warm reception, while congratulating both the Federal Democratic Republic of Ethiopia and Dangote Industries Limited on their successful collaboration.
