By Favour Ulebor, Abuja

The Ethiopian Ambassador to Nigeria, Legesse Geremew Haile, has described the current trade relationship between Ethiopia and Nigeria as modest but full of untapped potential, stressing the need for both countries to deepen economic ties.

Speaking exclusively with Vanguard on Sunday in Abuja, Ambassador Haile said,
the combined population of the two countries, over 350 million people, presents a massive market that remains largely underutilized.

He identified several key areas with high potential for growth.

The ambassador noted that in agriculture, Ethiopia has increased wheat production to meet domestic demand and generate export surpluses, while its coffee and horticulture products are internationally competitive.
Ambassador Haile highlighted opportunities for expansion, training, and technical cooperation.

He said, “Ethiopia and Nigeria have been very close to each other. We have a very strong political relationship, very mature, and our leaders are working closely. But when we look at the economic relation, especially the trade relation between our two countries, it is not up to the expectation of our political relationship. So we need to work very hard to improve the existing trade relationship between the two countries.

“Given the size of both countries, as the biggest African countries, the volume is very small. So I think that is why I’m saying we have to concentrate on improving this balance.”

Ambassador Haile emphasized Ethiopia’s commitment to attracting foreign investment, noting that the government has opened key sectors like telecom and finance to private investors.

He cited Dangote’s ongoing investment in cement and fertilizer as a successful example of Nigerian investment in Ethiopia.

He said, “All foreign investors do not need to go from organization to organization. When they make an application, there is one-stop shop service for investors where they can get their license very easily at a very short period of time,” he said.

On his priorities as ambassador, Haile said, “I want to improve the trade and economic relation between our two countries; I wish I can see more Dangote-type companies come to Ethiopia and make investments. And my government and myself, including my team at the embassy, are ready to welcome any investment from Nigeria. And also provide necessary support to those investors.”

Regarding Nigeria’s domestic challenges, including security concerns, Ambassador Haile expressed confidence in the country’s capacity to overcome obstacles.

He said, “We, all African countries, have our own problems; Nigeria has the capacity and the know-how, the skill to overcome these types of problems. And I wish the future will be bright,” he said.