The Government of Singapore has reaffirmed its commitment to deepening trade relations with Nigeria, emphasizing investment opportunities and collaborative growth across key sectors.
Dr. Maliki Osman, Singapore’s Minister in the Prime Minister’s Office and Second Minister of Education and Foreign Affairs, made this statement during his visit to Nigeria’s Ministry of Foreign Affairs on Thursday. The visit also marks preparations for the 55th anniversary of diplomatic relations between the two nations in 2025.
“Nigeria is Singapore’s fourth-largest trading partner in Sub-Saharan Africa, with trade in goods amounting to over 500 million Singapore Dollars. In 2022, bilateral trade in services was valued at 1.3 billion Singapore Dollars, reflecting Nigeria’s significance as a destination for Singaporean businesses,” Osman said.
He highlighted Singapore’s investments in Nigeria, which exceed $4.5 billion, focusing on sectors such as agribusiness, oil and gas, transport, logistics, and infrastructure. Notably, Singaporean firm Tolaram Venture operates the Lagos Free Zone, the first privately owned free zone in Nigeria with a deep-seaport.
Osman also pointed to emerging opportunities in renewable energy, expressing Singapore’s willingness to collaborate in this sector. He extended an invitation to Nigeria’s Minister of Foreign Affairs, Amb. Yusuf Tuggar, to participate in Singapore’s 2025 High-Level Ministerial Visit and the Singapore-Africa Business Forum, aimed at connecting African and Southeast Asian business communities.
Amb. Dunoma Ahmed, Permanent-Secretary at the Ministry of Foreign Affairs, welcomed the delegation and emphasized the need to expand trade and investment collaboration.
“The Nigerian government is committed to creating an enabling environment for businesses. We commend Singapore’s contributions to our GDP and job creation and encourage further investments in sectors like mining, agriculture, renewable energy, and tourism,” Ahmed said.
The discussions also touched on technical capacity building and Singapore’s continued support for Nigeria’s development through cooperation programs. Both parties pledged to strengthen political and economic ties for mutual growth and prosperity.
