Lesotho, Bayelsa Explore Economic Cooperation
The government of Lesotho and Nigeria's Bayelsa State are exploring bilateral economic cooperation in sectors like agriculture, oil, gas, and tourism. Officials from both regions met to discuss leveraging their respective comparative advantages for trade and investment.
Why it matters
This partnership represents an effort to foster South-South cooperation and diversify economic opportunities for both the landlocked nation and the coastal Nigerian state.
The government of Lesotho and Bayelsa State have held talks on areas of economic cooperation, including agriculture, oil and gas, tourism, cold water development and textile warehousing.
The bilateral meeting between the country’s Prime Minister, The Rt. Honourable Ntsokoane Samuel Matekane, and Governor of Bayelsa State, Senator Douye Diri, took place on Sunday at the State House in Maseru, the capital city.
Governor Diri, who recalled an earlier meeting with Matekane in Abuja, Nigeria, said Bayelsa was interested in exploring areas of economic benefits, particularly where it had comparative advantages.
He said the state was rich in crude oil and very large gas deposits, in addition to having the longest coastline in the country that places it at a strategic position in the Gulf of Guinea.
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