Canada Seeks Stronger Investment Partnership With Nigeria

Canada says improving Nigeria Canada investment data and policy certainty will help unlock greater trade and long-term investment between both countries.

Canada has called for stronger data systems, predictable policies and clearer regulations to encourage more Nigeria Canada investment, especially in the mining and oil and gas sectors. Speaking at the Lagos Business School Fireside Chat in Lagos, Canada’s Deputy High Commissioner to Nigeria, Carlos Rojas-Arbulú, said reliable information is now one of the most important factors investors consider before committing capital.

The event, themed Leading Africa’s Future: Business, Purpose and the Canada-Nigeria Partnership, brought together business leaders, policymakers and academics to explore ways of expanding economic cooperation.

According to Carlos Rojas-Arbulú, Canadian companies compare Nigeria with other investment destinations, including Ghana, Mexico, Guatemala and South Africa. He said investors are looking for stable environments with clear legislation, transparent investment frameworks and dependable data.

“Canadian companies are looking at Ghana, they’re looking at Mexico, they’re looking at Guatemala, South Africa and beyond. And they’re looking for environments where there’s predictability, there’s stability, there’s an investment framework that allows for clarity, legislation in place, and of course, the data,” he said.

The diplomat noted that although Nigeria has abundant mineral resources, gaps in investment data and policy certainty have limited inflows of Canadian capital. He revealed that Canada recently organised one of its largest business missions to Nigeria, attracting about 220 participants and 31 Canadian companies. He said the real success of such engagements depends on turning discussions into lasting business partnerships.

Rojas-Arbulú also highlighted perception challenges, noting that many Canadians know little about Nigeria beyond international media coverage. He called for greater efforts to showcase the country’s business opportunities, entrepreneurship and investment success stories.

Beyond trade, he said Canada wants to deepen cooperation in education, innovation, entrepreneurship and responsible investment. “Canada wants to be part of this story. We want to learn from Nigeria, innovate with Nigeria, invest with Nigeria and, above all, build with Nigeria,” he said.

Also speaking, Lagos Business School economics professor Bongo Adi said changing global economic trends are creating fresh opportunities for Nigeria Canada investment. He argued that the rise of middle powers such as Canada and shifts in global value chains are opening the door to stronger partnerships with countries like Nigeria.

Do you think improving policy certainty and data transparency will significantly increase Nigeria Canada investment?