The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said a bilateral investor protection deal with Qatar is almost complete, paving the way for deeper economic ties.

In a recent television interview, the minister said opportunities abound beyond oil and gas, especially in agriculture, digital trade and infrastructure.

She said the country’s leading position in the African Continental Free Trade Area (AfCFTA) is a gateway for Qatari investment.

Stressing that trade and investment relationships between both countries were fast-growing, she said there has been a lot of interest in Nigeria in the last few years.

“We have resumed discussions on an investor protection agreement and that is being finalized. The agreement will be signed and made public soon.

“Once the government-to-government (G2G) trust is in place, investors know they are protected when coming into the market. So, it is a very good step in the right direction as Qatari businesses are introduced into the Nigerian economy.”

According to the United Nations COMTRADE database on international trade, Nigeria’s imports from Qatar stood at $90.54 million last year. Imports were mostly plastics, inorganic and organic chemicals, precious metal compounds and electronic equipment.

The minister noted that aside from oil and gas, Nigeria is interested in food sovereignty and looking to expand its agriculture, agribusiness and agro-processing sectors.

“We also have a very vibrant digital trade economy, which is of interest globally, because it speaks to our young and brilliant demographic. All this is an opportunity to come into the AfCFTA freely,” she said.