Nigeria and Canada have reaffirmed their commitment to strengthening bilateral trade and investment by promoting the use of data driven policies to improve business decisions, attract investors and expand economic cooperation between both countries.
The renewed partnership was highlighted during a high level engagement involving government officials, business leaders and investment stakeholders from both nations. Participants emphasised that reliable economic data has become increasingly important in helping investors identify opportunities, assess risks and make informed investment decisions.
Officials noted that improving access to accurate market intelligence would enhance transparency, boost investor confidence and create a more predictable business environment. They stressed that quality data is essential for developing policies that support sustainable economic growth and encourage private sector participation.
Nigeria described Canada as an important trade and investment partner, with significant opportunities for collaboration in sectors such as agriculture, mining, renewable energy, manufacturing, technology and infrastructure. Both countries expressed their determination to deepen economic ties by promoting innovation and encouraging greater private sector investment.
According to participants, data driven investment strategies can help identify high growth sectors, improve project planning and increase the efficiency of resource allocation. Better access to economic information will also enable businesses to understand market trends, consumer behaviour and investment prospects more effectively.
The discussions also focused on strengthening digital infrastructure and improving data collection systems to support evidence based policymaking. Officials said governments must continue investing in modern technology that enhances the availability, accuracy and accessibility of economic information for investors and businesses.
Canada reaffirmed its commitment to supporting Nigeria’s economic development through knowledge sharing, technical cooperation and increased investment. Canadian representatives highlighted the importance of transparent regulatory frameworks and strong institutions in attracting long term investment and promoting sustainable development.
Business leaders from both countries welcomed the initiative, describing data driven investment as an essential tool for improving competitiveness in today’s global economy. They noted that businesses are increasingly relying on real time information and digital technologies to guide expansion plans, manage risks and identify emerging market opportunities.
Experts believe stronger collaboration between Nigeria and Canada could unlock new opportunities for trade diversification and economic growth. They also emphasised the need for continued policy reforms, improved ease of doing business and greater investment in digital innovation to maximise the benefits of the partnership.
The engagement comes at a time when Nigeria is implementing economic reforms aimed at attracting foreign direct investment and expanding non oil exports. Government officials expressed optimism that closer cooperation with international partners such as Canada will support these efforts and contribute to long term economic resilience.
As both countries continue to strengthen their economic relationship, stakeholders believe that leveraging reliable data, digital technology and evidence based policymaking will play a critical role in driving investment, boosting trade and creating sustainable economic opportunities. The partnership is expected to encourage greater business collaboration while positioning Nigeria as a more attractive destination for domestic and international investors.
SOURCE: PUNCH
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