Nigeria and Colombia have opened a fresh chapter in bilateral relations, with both countries committing to expand trade, investment, and cultural ties through private sector-driven partnerships.
The commitment was made at the Nigeria–Colombia Business Forum in Abuja, held during the three-day official visit of Colombia's Vice President, Francia Márquez.
Vice President Kashim Shettima, who declared the forum open, said Nigeria is diversifying its economy beyond oil into agriculture, minerals, and manufacturing, noting that agribusiness, textiles, coffee, cocoa, tropical fruits, energy, and machinery offer natural pillars of collaboration between the two nations.
He urged entrepreneurs and SMEs to seize opportunities in cross-border trade, capacity building, and technology transfer, stressing that the private sector must lead the charge in turning shared potential into real economic growth.
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Colombian Vice President Francia Márquez described Nigeria as a strategic partner, identifying renewable energy, higher education, and technology as new frontiers for cooperation. She added that both nations will work together on social development, peace, and security.
Nigeria's Minister of Industry, Trade and Investment, Jumoke Oduwole, also highlighted recent reforms—including fuel subsidy removal, exchange rate unification, and fiscal tightening—designed to restore macroeconomic stability and attract investors.
Two bilateral memoranda of understanding (MoUs) were signed to boost frequent political dialogue and simplify visa approvals for Colombian diplomats visiting Nigeria.
Business experts say the renewed partnership could create new opportunities for Nigerian SMEs in agribusiness exports, value-added processing, fashion, cultural industries, and digital services, while also opening access to Colombia's Latin American market.
