Ben Atonko
16 November 2008
As the war in Angola appears to have ended, Nigerians are beckoned to move in and exploit the business opportunities there.
Speaking with Sunday Trust during the independence day of Angola and official opening of the newly built Angolan embassy building in Abuja Tuesday, First Secretary, Economic Affairs in the Angolan Embassy, Mr Enseu Nunulo said, "We have documents on the economic situation in Angolan-the investment opportunities in Angola. We're encouraging Nigerians to go to Angola and we want Angolans to come to Nigeria and invest. They can share knowledge and learn from one another. South Africa is well ahead of us in business and so on.
"We're working towards improvement of trade and business relations between Angola and Nigeria. Since February 2007, we have been working in this regard because both countries have great economic potential."
The First Secretary maintained, "Everybody is welcome, either for building infrastructure or oil exploration. Nigeria has a very big experience on that."
He said Angola was seriously seeking collaboration with Nigeria in the non-oil sector "because oil is a resource that can finish at any time."
Other areas the diplomat expected Nigeria to partner with Angola include: agriculture, manufacturing and tourism.
He emphasised that Angolan government had set priorities for the investment drive in Angola.
"The priorities are industry, agriculture and oil. For this, government has made new laws to facilitate foreign investment coming to Angola," Nunulo explained adding that incentives like tax exemption were given.
He said, "Nigeria has experience in business and if we start working together, we can develop at the same time.
"We are in contact with a lot of people involved in business activities-trade. We intend to pull together both Angolan and Nigeria's commerce chambers.
He lamented that war had stalled development in Angola.
"Although we're 33 years old as independent country, we can consider that it is only for six years that we have given attention to the economy," Nunulo said. He added, "Because after independence, as you know from the history, Angola faced civil war. And where there's civil war, you can't develop anything economical."
Angola is in South-western Africa, bordering the Atlantic Ocean. Until 1975 it was ruled by Portugal and was sometimes called Portuguese West Africa. Angola became independent in 1975 after almost 15 years of war waged by Angolans against Portuguese rule. A civil war between rival Angolan factions broke out soon after independence and continued until the early 2000s.
The name Angola was derived from the word ngola, the title once given to rulers of the Mbutu people in Northern Angola. Today, the country is officially the Republic of Angola. Luanda is the capital and largest city. Portuguese remains Angola's official language and is widely spoken in cities, although most Portuguese settlers have left the country. Most Angolans also speak one of the Bantu languages.
A couple of things make Angola look like Nigeria. For instance, like Nigeria, Angola is potentially one of the richest African countries, although poverty is widespread. The country has petroleum resources, as well as hydroelectric potential, fertile farmland, and diamonds and other mineral resources.
However, the war for independence devastated Angola's economy, and the civil war that followed independence diverted much of the country's petroleum revenues. Prospects for peace and economic development improved after a ceasefire was signed in 2002, ending fighting in the civil war.
Angola has great hydroelectric potential in the numerous streams that descend from the central plateau. Hydroelectric plants have been constructed on the Cuanza, Cunene, Dande, and Catumbela rivers. These plants generate about two-thirds of the country's electricity. At present Angola's power production potential exceeds its needs.
At the beginning of the 21st century, some 75 percent of Angola's labour force was engaged in agriculture, most of it at a subsistence level. Per capita output was among the lowest in the world.
In 2004 gross domestic product (GDP), a measure of the value of all goods and services produced, was $19.5 billion, or about $1,260 per person.
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