Lesotho, Bayelsa hold talks on deepening economic cooperation
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.
Lesotho is one of the world’s smallest, landlocked nations located in Southern Africa and it is rich in diamond and a leader in cold water production and export as well as in textile production.
Governor Diri said, “I think this meeting was divinely orchestrated. The meeting in Abuja had so many other presidents and leaders, but at the end of the day, we were attracted to Lesotho, and Lesotho was equally attracted to us.”
“Bayelsa was the first place in Nigeria where oil and gas was found in commercial quantities in 1956 by the British during colonial rule. So, Nigeria became an oil-producing country because of Bayelsa.”
“My state is in the southern part of Nigeria, in the coastal area, and it is bordered by the Atlantic Ocean and the Gulf of Guinea. We seek collaboration and partnership in oil and gas, on how to harness the vast resources in our coastal and maritime environment as well as in terms of tourism.”
Governor Diri also stated that Bayelsa was looking at exporting industrial starch from its cassava processing factory.
“Our cassava starch extraction factory is now functional and it was aimed for international exports. The local demand in Nigeria is so high. But our target is export.”
“Rice production is another commodity that has possibility for collaboration. Bayelsa is a massive wetland and the entire state is a rice belt.“
On inter-African trade, Diri noted that countries on the continent do business more with those outside the region and that it was time for this to change.
“I think there is a very big opening that is going to be mutually beneficial to both Lesotho and Nigeria, particularly Bayelsa State, from what has come on the table here. I agree with you no less that inter-country trade has been more with countries outside of Africa.”
“But if African countries have this kind of meetings, we can begin to change the direction as the possibilities are there. We have not been able to explore them.”
He said his administration was winding down and that both teams have to act fast to make the partnership a reality.
Also, the Director-General of the Bayelsa Investment Promotion Agency (BIPA), Patience Abah, in a presentation, said Bayelsa was following the general framework of the African Continental Free Trade Area (AfCFTA).
Abah stated the importance of the meeting and that agreements reached were just words on paper except the participating states take steps to actualise them.
“So, that is the spirit with which we are approaching this. His Excellency has spoken about our oil and gas potential. But beyond that, Bayelsa wishes to leverage also its coastal assets.:
“We have two claims to fame that no other state in Nigeria can make. We have the longest coastline in the country of at least 203 kilometers. The other is we have proven gas reserves exceeding 18 trillion cubic feet. These are assets with which we can explore collaboration.”
“We know Lesotho specialises and is a world leader in cold water production. But our ecosystem is different, with more of swampy terrain and fresh water. So, we can partner on resources like catfish, tilapia, shrimps, fish processing, and cold chain logistics networks to span not only the Southern African region but all the way down to West Africa as well.”
“Using your expertise and terrain advantage, we can also partner on hydro energy as well as renewable and clean energy. Beyond that, we are also looking at your world-class garment manufacturing factory for export. Bayelsa can act as a strategic West African assembly point for warehousing and distribution of your finished textiles in the region and beyond.”
The Lesotho Prime Minister, Ntsokoane Matekane, in his remarks, said the country was interested in any economic relationship and investment that was mutually beneficial.
Ntsokoane, who was a reputable businessman and the country’s richest man before winning election in 2022, said African countries must first derive the benefits from their natural resources rather than relying on the imported finished products from them.
He said, “Africa has been home to a number of minerals and natural resources, but we always export everything we have. They get value outside and come back more expensive for us.”
“Now, when you look at the trade between Lesotho and China or US and compare it with between Lesotho and Nigeria, it is a totally different story. So, it is very important for us to start these engagements to ensure that there is intra-trade between African countries.”
Ntsokoane stated that Lesotho was targeting 100 per cent renewable energy and export it to the Southern African region.
“We generate power using hydro because our terrain is a masterpiece. We experience eight to 12 times of snowfall in Lesotho, which is the highest source of water in the Southern African region. And, of course, the mountains and gorges are a huge potential for our hydropower. So, in partnership with Bayelsa State and other African countries, we can build a very strong base load in the mountain Kingdom of Lesotho.”
He also spoke about the possibility of setting up data centres for digitised businesses, taking advantage of Lesotho’s cool temperatures and abundant water supply from the mountains.
He further stated that the country depends on Nigeria’s expertise in the oil industry and that Bayelsa will be a strategic partner in that sector because of its history and experience in oil exploration activities.
After the meeting, the Bayelsa governor participated in the Diamond Independence Jubilee celebrations of the country at the National Stadium in Maseru.
The King of Eswatini and his wife and representatives of the government of Botswana, Zambia as well as heads of diplomatic missions and international organisations joined the King of Lesotho, David Mohato Seeiso, Letsie III, at the colourful ceremony.