Nigeria and Colombia have signed a Memorandum of Understanding (MoU) on political consultations, marking a significant milestone in the bilateral relations between both nations.
The agreement was signed on Monday during the Nigeria-Colombia Bilateral Meeting and Business Forum at the Presidential Villa.
The MoU aimed to strengthen bilateral relations between Nigeria and Colombia, fostering cooperation in areas such as trade, investment, agriculture, energy, and culture.
Speaking at the plenary session, Nigeria’s Vice President, Senator Kashim Shettima, emphasised the need for both countries to diversify their economies beyond crude oil and other narrow bases, exploring new opportunities in agriculture, minerals, and manufactured products.
“We cannot achieve that unless we compare our differences and similarities, as well as our resources and potential.
”This is a practical way to propel trade and investment, improve agriculture, foster culture, and exchange ideas that will mutually benefit our countries, ” he said.
Shettima said Nigeria was working to elevate agriculture “from subsistence to mega-business, as well as transforming smallholders into global conglomerates.
According to the Vice President, “As a country, we are investing in innovative technologies for livestock breeding, developing machinery, producing chemical-based products such as fertilizers, herbicides, and pesticides, and creating a strong supply chain.
”This is also an area where partnerships with Colombia will be vital. We must prioritise sectors that are natural pillars of our economies. In agriculture, we share comparative strengths in cocoa, coffee, and tropical fruits”, he added.
Shettima also said, ”In energy, Nigeria remains a leader in oil and gas, while Colombia has potential in coal and renewable energy.
”In manufacturing, from textiles to machinery, both nations can collaborate to build capacity, exchange knowledge, and attract the kind of investments that secure jobs and prosperity for our peoples.”
He identified three priorities for both countries: monitoring global trade policies, diversifying exports, and creating a favourable investment climate.
“By pursuing these, both nations can turn shifting tides into shared prosperity,” he said.
He further urged the private sectors of both nations to take advantage of the abundant potential of their countries and transform them into tangible economic gains.
”The private sectors of our two nations are therefore urged to take advantage of the abundant potential of our countries and transform them into tangible economic gains,” he added.
The Vice President emphasised the importance of culture as a bridge for innovation, economic development, and mutual prosperity, and proposed collaboration in capacity building, skill development, cultural exchange, digital innovation, and intellectual property protection.
He said,“our practical roadmap to the future is to acknowledge that culture is a bridge for innovation, economic development, and mutual prosperity.
”Nigeria’s creative sector remains an engine for unleashing the potential of our teeming youth population. Reinforcing our connections in culture, education, science, and technology is fundamental for building a resilient and globally competitive creative economy.
“It is therefore time to collaborate in capacity building, skill development, cultural exchange, digital innovation, and intellectual property protection.
‘:We must extend our acquaintance to each other’s literature, languages, music, films, arts, and festivals.”
On her part, Colombia’s Vice President, Mrs. Francia Márquez, reaffirmed her country’s commitment to Nigeria, describing it as a strategic market, and expressed interest in exploring new paths in renewable energy, higher education, and other areas.
“We are in Nigeria to reaffirm our bilateral relations.We are currently exporting to Nigeria, particularly in the field of leather, and we seek to explore new paths with Nigeria in renewable energy.
”Similarly, we can make progress in higher education by connecting Colombian and Nigerian youths.
“This business meeting will allow Nigeria to explore cooperation opportunities and work together in the fields of technology and services for both countries’ people.
”We will work together for social development, social justice, peace, and security for our people, ” she said.
Also, the Nigeria’s Foreign Affairs Minister, Ambassador Yusuf Tuggar highlighted the historic ties between both nations and emphasized the potential for cooperation in agriculture, hydrocarbons, and pharmaceuticals.
Nigeria’s Deputy Director of the Nigerian Investment Promotion Commission (NIPC), Mr. Emmanuel Longza, outlined investment opportunities in the country, citing its strategic location, large population, and rich natural resources.
Nigeria has 34 million hectares of arable land, with only 46% currently cultivated, implying huge opportunities for agricultural production.
The country has industrial parks designed to boost export-oriented industries and attract businesses.
