Ugandan President Yoweri Museveni met Nigerian investor Dr Abbas A. Waziri on Tuesday to discuss investment opportunities in Uganda, including a proposed cement manufacturing plant and ventures in the minerals sector.
The meeting was held at State House Entebbe, according to a statement issued by State House. Waziri is the group chairman of Resident Group PLC.
The discussions also covered efforts to strengthen economic ties between Uganda and Nigeria, including possible exports of Ankole cattle and Ugandan dairy products to the Nigerian market.
The talks come as Uganda seeks to expand trade and investment links with African markets through the African Continental Free Trade Area, or AfCFTA.
Uganda and Nigeria signed a commitment document in December 2024 to facilitate trade under AfCFTA. The arrangement paved the way for Uganda to begin shipments to Nigeria, with products including dairy, coffee, fish, pharmaceuticals and tea.
Uganda’s government has identified Nigeria as one of the markets it wants to develop as part of efforts to diversify export destinations. The country’s AfCFTA strategy aims to increase access to African markets and support export diversification and value addition.
A PACEID report published in November 2025 put Uganda’s exports to Nigeria at $2.9 million during the period covered by the report. The same report listed Nigeria among Uganda’s other export markets.
PACEID has also identified milk, fish, fruits and vegetables, tea and coffee among products with export potential in Nigeria. It reported that Uganda’s exports to Nigeria had reached $16.33 million in 2023, illustrating fluctuations in trade values depending on the period measured.
The latest talks therefore combine two areas of Uganda’s economic strategy: attracting foreign investment into manufacturing and minerals while expanding markets for locally produced goods.
Uganda and Nigeria also held a business forum in Kampala in September 2026, where officials and private-sector representatives discussed trade, investment, industrial cooperation and business partnerships under the AfCFTA framework.
