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 Lesotho's Prime Minister, Ntsokoane Samuel Matekane, and Governor of Bayelsa State, Senator Douye Diri, took place at the State House in Maseru, the capital city of Lesotho. This meeting follows an earlier discussion between Matekane and Diri in Abuja, Nigeria.
Governor Diri highlighted Bayelsa's interest in exploring economic benefits, particularly where it has comparative advantages. Bayelsa is rich in crude oil and large gas deposits, with the longest coastline in Nigeria, placing it strategically in the Gulf of Guinea. Lesotho, a small landlocked nation in Southern Africa, is rich in diamonds and a leader in cold water production and export, as well as textile production. Diri noted that Bayelsa was the first place in Nigeria where oil and gas was found in commercial quantities in 1956.
Governor Diri expressed interest in collaborating with Lesotho in areas such as oil and gas, tourism, and harnessing the state's coastal and maritime environment. He also mentioned Bayelsa's cassava processing factory, which is now functional and aimed at international exports. Additionally, Diri noted that Bayelsa is a massive wetland and a rice belt, presenting opportunities for collaboration in rice production. He emphasized the need for African countries to change the direction of inter-country trade, which currently favors countries outside the region.
The Director-General of the Bayelsa Investment Promotion Agency (BIPA), Patience Abah, presented Bayelsa's framework for the African Continental Free Trade Area (AfCFTA). Abah emphasized the importance of actualizing agreements and highlighted Bayelsa's potential in oil and gas, as well as its coastal assets. Bayelsa has the longest coastline in Nigeria, at 203 kilometers, and proven gas reserves exceeding 18 trillion cubic feet. Abah suggested partnering on resources like catfish, tilapia, shrimps, fish processing, and cold chain logistics.
Lesotho's Prime Minister, Ntsokoane Matekane, expressed interest in mutually beneficial economic relationships and investments. As a reputable businessman and Lesotho's richest man before winning election in 2022, Matekane emphasized the need for African countries to derive benefits from their natural resources rather than relying on imported finished products. He noted that Lesotho is targeting 100 percent renewable energy and aims to export it to the Southern African region.
Prime Minister Matekane highlighted Lesotho's potential in hydropower, leveraging its terrain and water supply from the mountains. He also mentioned the possibility of setting up data centers for digitized businesses, taking advantage of Lesotho's cool temperatures and abundant water supply. Matekane stated that Lesotho depends on Nigeria's expertise in the oil industry and that Bayelsa will be a strategic partner in that sector.
After the meeting, Governor Diri participated in Lesotho's Diamond Independence Jubilee celebrations at the National Stadium in Maseru. The event was attended by the King of Eswatini, representatives of the government of Botswana, Zambia, and heads of diplomatic missions and international organizations. The King of Lesotho, David Mohato Seeiso, Letsie III, was also present at the ceremony.
Key points
- Lesotho and Bayelsa State discuss economic cooperation in areas such as agriculture, oil and gas, and tourism.
- Bayelsa State aims to export industrial starch from its cassava processing factory and explore collaboration in rice production with Lesotho.
- Lesotho targets 100 percent renewable energy and aims to export it to the Southern African region, with potential partnership from Bayelsa State.
