Nigeria-Canada trade summit kicks off in Toronto with promise of transformative partnership
By: Abba Onyekachukwu, Abuja.
The maiden edition of the Nigeria-Canada Trade & Investment Summit and Awards (NICATISA) has commenced at Homewood Suites & Hampton by Hilton, Toronto Airport, under the distinguished patronage of the Nigeria-Canada Parliamentary Friendship Group and the Federal House Committee on Nigeria-Canada Parliamentary Relations, according to a press release from Dr Thomas Adebayo, Public Relations Officer of the Ministry on Wednesday.
The summit has brought together nearly 300 delegates from government, the private sector, and civil society, all aimed at fostering a transformational partnership between Nigeria and Canada. The event is anchored in a shared economic vision and “Renewed Hope” for Nigeria’s growth trajectory.
In his keynote address, Ambassador Nura Abba Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, declared that the summit marks a pivotal moment in Nigeria-Canada relations. He highlighted the success of President Bola Tinubu’s Renewed Hope Reforms in uplifting the business environment and attracting diaspora capital and global investors.
Ambassador Rimi specifically acknowledged six cornerstone achievements of the Renew Hope agenda, including: Executive Orders streamlining company registration, licensing, and customs clearance, cutting red tape by 40%; Fiscal reform package removing distortive fuel subsidies and redirecting savings into critical infrastructure; Launch of Special Economic Zones to catalyze manufacturing and export-oriented industries; Digitalization of trade processes, boosting transparency and reducing corruption; Central Bank measures to liberalize foreign exchange, incentivize diaspora remittances, and stabilize the naira; and Passage of the Investment Promotion Bill, guaranteeing investor protections and repatriation rights.
Ambassador Rimi noted that these reforms have translated into 15% annual GDP growth in non-oil sectors and a surge of joint-venture inquiries from Europe, Asia, and North America.
Over the next two days, NICATISA delegates will: Advance negotiations on a Nigeria-Canada Preferential Trade Agreement (PTA); Finalize regulatory memoranda between NAFDAC-CFIA and Nigeria Customs-CBSA; Chart a roadmap for direct air connectivity under a Bilateral Air Services Agreement; Launch a Nigeria-Canada Binational Chamber of Commerce and; Showcase women- and youth-led enterprises ready for cross-border expansion
The summit promises to erect new channels of commerce and cooperation that will enrich both nations, turning the promise of President Tinubu’s Renew Hope Reforms into tangible performance.
Rimi delivering speech at the summit
