'Nigerians have invested $1.7bn in Canada' - Trade commissioner reveals

The Acting Senior Trade Commissioner, Deputy High Commission of Canada, Dindembolo-Zaya Kuyena, has stated that Nigeria is the biggest African foreign investor in Canada.

According to him, Nigerians’ total investment in China was $1.7 billion invested as of 2021.

Kuyena made this known on Thursday, April 15, at a partnership event between a Canadian Company, SpeechLogix, and MTN Nigeria.

Kuyena added that Canada has been actively working with Nigeria on trade policy, including negotiation and agreements, to improve on market access and investment flow.

He, however, added that Canadian direct investment in Nigeria is less than $500 million and the Canadian government is working to increase it.

Kuyena said: “Without a doubt, Nigeria is one of Canada’s most important economic partners in Africa promoting trading investment from relationships between itself and Canada.

"In 2002, Nigeria became Canada’s second-largest trading partner in Africa with 2.2 billion in bilateral Merchants trade.

"Nigeria is also the largest African foreign investor in Canada with $1.7 billion from 2021 data. Canadian direct investment in Nigeria is estimated at approximately just under $500m and I am pushing for that to increase over the coming years.

"Nigeria’s economic diversification policy aligns well with that of Canada, and it’s important to note that it was mentioned in terms of your SME landscape."

BEB