Nigeria and Canada are intensifying efforts to strengthen their economic partnership, with both countries placing greater emphasis on data-driven investment strategies as a catalyst for trade growth. Speaking at the Lagos Business School Fireside Chat themed “Leading Africa’s Future: Business, Purpose and the Canada-Nigeria Partnership,” Canada’s Deputy High Commissioner in Nigeria, Carlos Rojas-Arbulú, stressed that investors increasingly rely on reliable data, policy consistency, and regulatory clarity before committing capital to emerging markets.
According to the Canadian diplomat, Nigeria possesses enormous investment potential, particularly in the mining, oil and gas sectors, but continues to face challenges in attracting large-scale foreign investment due to information gaps and uncertainty within the business environment. He explained that Canadian companies are actively exploring opportunities across several countries, including Ghana, South Africa, Mexico, and Guatemala, making it essential for Nigeria to create a more predictable and transparent investment climate to remain competitive.
Rojas-Arbulú noted that in today’s global economy, natural resources alone are no longer enough to attract investors. He emphasized that access to accurate and credible data plays a critical role in investment decisions, especially in resource-rich sectors. Despite Nigeria’s vast mineral wealth, he said inadequate data systems and limited investment certainty have prevented the country from fully benefiting from growing Canadian interest in Africa’s mining industry.
The Deputy High Commissioner revealed that Canada has significantly increased its engagement with Nigeria through trade missions focused on mining, renewable energy, and agriculture. He pointed to a recent business engagement that attracted about 220 participants and 31 Canadian companies as evidence of Canada’s growing interest in the Nigerian market. However, he stressed that the true success of such engagements would be measured by how many discussions evolve into long-term investments, commercial agreements, and sustainable partnerships built on trust and ethical leadership.
Beyond trade and investment, both countries are looking to deepen cooperation in education, innovation, entrepreneurship, and youth development. Rojas-Arbulú highlighted the need to change international perceptions of Nigeria by showcasing its business successes, thriving entrepreneurial ecosystem, and investment opportunities. Supporting this view, Lagos Business School Professor of Economics, Bongo Adi, said shifting global economic dynamics have created new opportunities for stronger Nigeria-Canada relations, as middle powers like Canada increasingly seek strategic partnerships that can drive shared economic growth and shape the future of global commerce.
source: punch
