Nigeria, Kazakhstan partner on trade, investment

President of Kazakhstan Kassym Generous Tokayev and President of Nigeria Bola Ahmed Tinubu

Nigeria and Kazakhstan have initiated discussions to establish a trade and investment partnership, paving the way for economic growth and cooperation between the two countries.

To solidify the partnership, both nations have agreed to draft an Investment Protection Agreement (IPA) to ensure a structured and transparent investment process.

Also, in the coming months, a Nigeria-Kazakhstan Business Forum will be hosted to finalize the agreement and launch joint projects towards the historic engagement, marking the beginning of a new chapter in Africa-Asia trade relations for economic transformation.

A statement from the Ministry of Industry, Trade and Investment (FMITI) said both countries reached the agreement for the partnership at a high-level meeting between a Kazakh delegation, led by Vice Minister of Trade and Integration, Mr. Kairat Torebayev, and officials from the Ministry in Abuja, led by the Permanent Secretary, Amb. Nura Abba Rimi.

The engagement comes just weeks after President Bola Ahmed Tinubu and Kazakh President Kassym-Jomart Tokayev met on the sidelines of the Abu Dhabi Sustainability Summit on January 14, 2025, to strengthen bilateral economic relations.

Amb. Nura noted that the swift follow-up from the leaders’ meeting underscores the seriousness of both nations in fostering trade and investment, adding that Nigeria is keen to leverage Kazakhstan’s expertise in uranium and petrochemicals.

Earlier, the Kazakh leader of the delegation, Vice Minister of Trade and Integration, Mr. Kairat Torebayev, acknowledged the seriousness of his country’s collaboration in the areas of trade and investment with Nigeria.

“It is remarkable that just a month after our Presidents met, we are already here discussing concrete steps to enhance trade and investment between our nations. Kazakhstan is a global leader in uranium and petrochemicals, while Nigeria is rich in natural resources, including minerals and agricultural products. The opportunities for collaboration are vast, and we are ready to explore them fully,” he said.