By Business in Cameroon
Nigeria’s former president turned businessman, Chief Olusegun Obasanjo is set to visit the Kribi deep-sea port in Cameroon this April to launch his company, Obasanjo Agro-Allied Business Ltd (OABL). His venture aims to strengthen cross-border trade between Cameroon and Nigeria.
According to Agha Albert Ngwana, CEO of Aftel Cameroon Limited, a partner of Obasanjo’s group, OABL plans to invest $700 million (about CFA420 billion) in multiple sectors, including agriculture, maritime transport, hospitality, and oil.
Business in Cameroon reports that as part of the project, Obasanjo will expand his farm operations into Cameroon, cultivating maize and soybeans on 610 hectares of land to support his livestock business. OABL has secured land concessions from the Kribi port authority and intends to set up packaging factories, wholesale fertilizer distribution, and warehouse facilities.
The company also plans to develop a 10-hectare site for wood processing and introduce various maritime services to ease congestion at Nigeria’s Apapa and Lekki ports. “Our goal is to provide transshipment services and other key operations at the Kribi deep-sea port,” Ngwana explained. OABL’s plans also include building oil and gas storage facilities for ship refueling and constructing a five-star hotel in Kribi.
Obasanjo’s investment comes as Kribi prepares to launch the second phase of its port expansion. China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Company (CCCC), completed the technical handover of the new infrastructure on February 21, 2025. The extension, which includes a 715-meter-long dock, is expected to boost efficiency and capacity when commercial operations begin in April.
OABL’s projects will not only strengthen economic ties between Cameroon and Nigeria—two of the region’s leading economies—but also support local producers, enhance regional development, and position Kribi as a key hub for cross-border trade. This aligns with the objectives of the African Continental Free Trade Area (AfCFTA) by promoting intra-African commerce.
In 2023, trade between Cameroon and Nigeria was largely driven by exports, reaching CFA39.5 billion, with imports totaling CFA39.4 billion, according to Cameroon’s National Institute of Statistics. However, authorities note that informal trade and smuggling significantly impact official trade figures, given the two countries share a long and porous 1,500-km border.
•source: businessincameroon.com
