NIGERIA, CANADA PUSH DATA-DRIVEN INVESTMENT FOR TRADE GROWTH

Nigeria and Canada have agreed to deepen bilateral cooperation through data-driven investment strategies aimed at unlocking new opportunities for trade growth and economic diversification.

The commitment was made during a high-level business forum held on Friday in Abuja, where officials from both countries explored ways to leverage data analytics, digital technology, and market intelligence to facilitate investment flows. The discussions focused on key sectors including agriculture, renewable energy, mining, and information technology.

Nigeria’s Minister of Trade and Investment, Mr. Oluwole Ojo, described the partnership as timely and strategic. “Data is the new oil. By working with Canada to harness data-driven insights, we can make smarter investment decisions, reduce risks, and create sustainable value for both nations,” Ojo stated.

Canadian High Commissioner to Nigeria, Ms. Lisa McDonald, emphasised her country’s readiness to share expertise in data governance, artificial intelligence, and market research. “Canada is committed to supporting Nigeria’s economic transformation through knowledge transfer and collaborative investment frameworks. Data-driven approaches will help us identify high-potential opportunities and build resilient supply chains,” she noted.

The forum highlighted several potential areas of collaboration, including the establishment of a joint data analytics hub for trade information, capacity building for Nigerian businesses in digital marketing and e-commerce, and joint ventures in agritech and clean energy projects.

Stakeholders from the private sector welcomed the initiative, noting that access to reliable data will improve decision-making and attract more foreign direct investment into Nigeria. The President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mrs. Nneka Okafor, called for swift implementation of agreed frameworks.

Both countries expressed optimism that the data-driven approach will help Nigeria diversify its economy beyond oil and strengthen trade ties with Canada, which has shown increasing interest in African markets.

The meeting concluded with the signing of a memorandum of understanding to formalise cooperation on data sharing and investment promotion. Further technical working groups are expected to be constituted in the coming weeks to drive the agenda forward.