A new report explores the economic relationship between Nigeria and Cameroon, highlighting how a historical lack of infrastructure has hindered their long-standing trade. The article notes that while trade between the two countries has grown over time, reaching a peak of US$3.3 billion in Nigerian exports to Cameroon in the mid-2010s, there is significant potential for deeper economic ties through strategic infrastructure investments and policy coordination.
The article details two specific projects that have been made possible through export finance to address these infrastructure gaps. In Nigeria, a €60 million loan secured by the government is being used to acquire mobile substations and transformers from Siemens Energy as part of the Presidential Power Initiative. This project aims to add 1,300MW to the national grid to combat frequent power outages and stimulate economic growth.
In Cameroon, a €94.8 million export finance facility is funding the rehabilitation and modernization of the critical Olounou-Oveng road. The project, supported by an Italian export credit agency and executed by Italian contractors, is designed to improve connectivity within the country and facilitate trade with neighboring nations like Congo and Gabon. Both case studies demonstrate how structured financing models can be used to fund large-scale projects that drive economic development and regional integration.
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