Nigeria-Malaysia Trade Hits $956 Million in 2023, Says Envoy
The bilateral trade volume between Nigeria and Malaysia reached $956 million in 2023, according to Malaysian High Commissioner to Nigeria, Ambassador Aiyub Omar. Speaking at Malaysia’s 67th Independence Day celebration in Abuja, Omar highlighted that Malaysia is Nigeria’s 37th global trading partner and its fourth largest in Africa, following South Africa, Kenya, and Côte d’Ivoire.
Ambassador Omar further disclosed that bilateral trade up to July 2023 amounted to $747 million. He also emphasized Malaysia’s contribution to Nigeria’s development, noting that 560 Nigerian government officials have benefited from the Malaysian Technical Cooperation Programme (MTCP) since 1981.
In the education sector, Omar revealed that 3,386 Nigerian students are currently studying in Malaysian institutions, making Malaysia a preferred destination for Nigerian students seeking higher education.
Reflecting on Malaysia’s economic progress, Ambassador Omar mentioned that the country has evolved into a major player in exporting electrical appliances and components, with an average growth rate of 5.4% since 2010. He cited Malaysia’s political stability and foreign investment as crucial factors in its rise to becoming Asia’s 19th wealthiest nation in 2024 and the 10th safest country in the world, according to the Global Peace Index.
