29 January 2013

Nigeria: Canadian Minister, 28 Firms Explore Investment Opportunities in Nigeria

The Canadian Minister of International Trade, Edward Fast together with representatives from 28 different companies yesterday met with the Minister of Trade and Investment, Olusegun Aganga under the Canadian-Nigeria Bi-National Commission to explore investment opportunities in the country.

Speaking after the meeting, the Minister of Trade and Investment said that the discussions which centred on trade issues, infrastructure, power, mining, education, vocational training, anti-corruption, Cooperate Social Responsibility, agriculture as well as trade and investment related measures were constructive and result oriented.

He said the establishment of the Canadian-Nigeria Bi-National Commission to further facilitate and strengthens the bilateral economic cooperation between the two countries is an initiative worthy of commendation.

He explained that Nigeria is one of Canada's largest trading partners in Sub-Saharan Africa, adding that in 2011, Nigeria's value of trade with Canada stood at about 2.7 billion dollars consisting of 2.5 billion dollars in exports to Canada and 199 million dollars worth of imports. He urged the Canadian government to widen its imports from Nigeria to non-oil sector and woo them to invest in the mining sector as they are one of the top three mining countries in the world. Speaking, the Canadian Minister of International Trade said that Nigeria represents Canada's interest in Africa, adding that they will like to partner Nigeria in the mining and educational sectors.

"Many Canadian companies have invested in Africa and Nigeria. I want to go back and advocate for Canadian businesses to come to Nigeria as one of the best places to invest. We have a productive interaction about increasing our commercial relationships to trade and investments."

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