Bayelsa, Lesotho Move To Deepen Trade Ties, Target Oil, Agriculture, Energy Investments

Bayelsa State and the Kingdom of Lesotho have commenced discussions on a strategic economic partnership aimed at boosting trade and investment between Nigeria and the Southern African country.

The proposed partnership covers oil and gas, agriculture, tourism, fisheries, renewable energy, hydropower, cold-chain logistics and textile distribution.

The discussions took place in Maseru on Sunday when Bayelsa State Governor, Senator Douye Diri, met with Lesotho Prime Minister, Ntsokoane Samuel Matekane, at the State House.

Diri said the meeting provided an opportunity for both sides to identify areas where their respective economic strengths could complement each other.

The governor said Bayelsa’s position as an oil-producing state, its extensive coastline and vast gas resources made it well positioned to collaborate with Lesotho in the petroleum and maritime sectors.

He recalled that commercial quantities of crude oil were first discovered in Bayelsa in 1956, describing the state as a major contributor to Nigeria’s emergence as an oil-producing nation.

According to him, Bayelsa is also seeking international markets for its cassava-based industrial starch, while its rice production capacity offers another area for bilateral cooperation.

Diri said the two countries could also explore tourism and other opportunities associated with Bayelsa’s coastal and maritime environment.

He stressed the need for African countries to strengthen economic ties among themselves, rather than relying predominantly on trade with countries outside the continent.

The governor said the proposed Bayelsa-Lesotho partnership could help demonstrate how African countries could unlock economic opportunities through direct cooperation.

Also speaking, the Director-General of the Bayelsa Investment Promotion Agency, Patience Abah, said the state was positioning the proposed partnership within the framework of the African Continental Free Trade Area.

Abah identified Bayelsa’s more than 203-kilometre coastline and proven gas reserves of over 18 trillion cubic feet as key assets that could attract investment.

She proposed partnerships in fish production and processing, including catfish, tilapia and shrimp, as well as cold-chain logistics connecting markets in Southern and West Africa.

She also identified opportunities for cooperation in hydro and renewable energy, while proposing that Bayelsa serve as a West African warehousing and distribution hub for textiles produced in Lesotho.

Responding, Matekane said Lesotho was ready to pursue economic relationships that would be mutually beneficial.

The Prime Minister called for a shift in Africa’s approach to natural resources, arguing that the continent must increasingly process its resources locally instead of exporting raw materials and importing finished products at higher costs.

He said stronger intra-African trade would enable countries to retain more value from their natural resources and expand economic opportunities for their citizens.

Matekane also highlighted Lesotho’s hydropower potential, saying the country was targeting 100 per cent renewable energy and could supply electricity to other countries in the Southern African region.

He further proposed cooperation in data-centre development, citing Lesotho’s cool climate and abundant water resources as advantages for the digital economy.

The Prime Minister said Lesotho also recognised Nigeria’s expertise in the petroleum industry and identified Bayelsa as a potential strategic partner because of its long history of oil exploration and production.

Diri said his administration was already winding down and urged officials on both sides to move swiftly from discussions to implementation.

The meeting preceded Diri’s participation in Lesotho’s Diamond Independence Jubilee celebrations at the National Stadium in Maseru.

The ceremony was attended by King Letsie III of Lesotho, the King of Eswatini and his wife, representatives of Botswana and Zambia, as well as heads of diplomatic missions and international organisations.