In a significant step to enhance the burgeoning economic relations between Canada and Nigeria, Maninder Sidhu, Member of Parliament, engaged in pivotal discussions with Nigeria’s Minister of Foreign Affairs, Mr. Tuggar. The meeting, held in Ottawa today, underscored the dynamic trade partnership that sees Nigeria as Canada’s largest trading ally in Africa, with trade volumes soaring from $2.2 billion in 2022 to $3.6 billion in the previous year.
During the discussions, both nations expressed a firm commitment to advancing the African Continental Free Trade Area, highlighting its critical role in fostering economic integration across the continent. Mr. Sidhu and Minister Tuggar also acknowledged the significant contributions of the Nigerian Diaspora in Canada, emphasizing the profound impact of people-to-people and business-to-business connections that continue to strengthen bilateral ties.
“The robust engagement today with Minister Tuggar marks a milestone in our bilateral relations and sets a strong foundation for future collaboration. We are particularly excited about the opportunities that the forthcoming Canada-Nigeria Foreign Investment Promotion & Protection Agreement will bring, ensuring a secure and prosperous future for our nations,” stated MP Maninder Sidhu.
Further enhancing their economic engagement, Canada and Nigeria are keen on finalizing the Canada-Nigeria Foreign Investment Promotion & Protection Agreement, which promises to bolster investor confidence and secure long-term benefits for both countries. This agreement is expected to catalyze substantial growth, investment, and development, particularly in sectors such as infrastructure, technology, and agriculture.
The growing partnership was also a focal point at the Canada-Nigeria Trade Expo 2023, where stakeholders from both nations explored new opportunities for collaboration across various sectors. This event not only reinforced the economic synergy between Canada and Nigeria but also set the stage for future multi-million dollar investments.
Both nations are committed to a continued dialogue and cooperation, ensuring a prosperous future for their citizens through enhanced trade relations and strategic economic partnerships.