Nigeria, Singapore commit to strengthening bilateral ties

Nigeria and Singapore have reaffirmed their commitment to strengthening diplomatic and economic ties, as representatives from both countries met to discuss opportunities for collaboration.

The meeting, held in Abuja on Thursday, brought together Nigeria’s Permanent Secretary for the Ministry of Foreign Affairs, Amb. Dunoma Ahmed and the Minister in the Prime Minister’s Office and Second Minister of Education and Foreign Affairs, Singapore, Dr. Maliki Osman.

During the discussions, the two nations reflected on their 55-year relationship, emphasising the need to deepen partnerships in trade, investment, and capacity building.

Ahmed noted the technical assistance provided by Singapore, highlighting its role in developing Nigeria’s workforce.

He praised Singaporean companies for their contributions to Nigeria’s economy, particularly in job creation and GDP growth.

ADVERTISEMENT

The perm. sec said, “We looked at the technical assistance that has been offered by the Singaporean government to Nigerians in areas of capacity building.

“We also looked at the trade relations existing between us and emphasised the need to further escalate the relationship existing between the two countries and also to strengthen the economic and trade relations that is existing between us generally.

“We commended the contributions that Singaporean companies are making in the economic sphere in Nigeria in terms of contributing to our GDP and job creation.”

He also pointed to the Federal Government’s focus on diversifying the economy beyond oil into sectors such as mining, agriculture, renewable energy, and tourism.

“We informed them that the present government of President Bola Tinubu is diversifying the economy into non-oil areas like mining, agriculture, renewable energy, tourism, and the rest of them.

“I called on our guests to invite more companies that are interested in those areas that have capacities and the technology to come and invest because Nigeria is now a bright investment sector in the globe,” Ahmed noted.

Singapore’s interest in exploring these sectors further, encouraging Nigerian companies to consider Southeast Asia as a potential market.

He acknowledged Nigeria’s demographic and economic potential, describing it as a critical investment destination for Singaporean businesses.

Trade between the two nations was also a key topic of discussion. Singaporean investments in Nigeria have exceeded $4.5 billion, with bilateral trade in goods and services valued at over S$1.8 billion in 2022.

Singaporean companies are actively involved in Nigeria’s agribusiness, oil and gas, logistics, and infrastructure development, including operations in the Lagos Free Trade Zone.

“We have a very warm relationship and one of the key tenets of our relationship is our economic ties. Nigeria and Singapore have very strong economic ties and Nigeria is Singapore’s fourth largest trading partner in sub-Saharan Africa.

“Our trade in goods have amounted to about over S$500 million in goods and our bilateral trade in services is worth about S$1.3 billion in 2022.

“Nigeria continues, as mentioned by the Permanent Secretary, to be a very attractive destination for Singapore companies. As at the end of 2022, Singapore companies have invested over $4.5 billion into Nigeria and these companies have strong interests in Nigeria’s agribusiness, oil and gas, transport and logistics and infrastructure sectors,” Osman said.

Human capacity development was highlighted as a shared priority. Osman noted that Singapore’s experience in human resource development could serve as a valuable model for Nigeria.

Proposals for technical and vocational training for Nigerian youth were discussed, alongside scholarships and customised training programmes for government officials through the Singapore Cooperation Programme and the Singapore-Africa Partnership.

The meeting also addressed emerging global challenges, including the role of artificial intelligence and renewable energy. Both countries expressed a desire to collaborate on these new frontiers to drive mutual economic growth.