The Canadian Government has unveiled plans to invest in Nigeria’s key sectors — power, mining, education, vocational training and agriculture, the Canadian Minister of International Trade, Ed Fast, said.
Fast, who announced this on Monday in Abuja at a meeting of the Canada-Nigeria Bi-National Commission (BNC), also put the bilateral trade between the two countries at $2.7 billion.
The meeting was attended by Mr Olusegun Aganga, Minister of Trade and Investment; his counterpart Minister of State, Chief Samuel Ortom; Chief Ojo Maduekwe, Nigeria’s Ambassador to Canada and Canadian Ambassador to Nigeria, Mr Chris Cooter.
Fast, who led a business delegation comprising, 28 companies and organisations predominantly from the extractive, education and infrastructure sectors, said they were in the country to look for investment opportunities.
He added the meeting was also to enhance the trade relations between the two countries.
He said “Nigeria represents Canada’s number one interest in Africa. We know that Nigeria has a vibrant oil and gas sector that Canadians are already engaged in’’.
While noting that 50 per cent of all mining activities in the world are led by Canadians, the minister said the country would want to bring its mining technology to bear in Nigeria.
“We know that you have a nascent mining sector that represents huge opportunities for Nigerians. We are also perharps the world’s number one innovators when it comes to sustainable mining technology. We would love to partner with you in that regard.
“When it comes to education we are very open to having a very productive discussion on how Canada can partner with Nigeria in providing educational solutions for Nigerian students who may not be in a position to integrate easily into the labour force.
“With the appropriate training whether at the post-secondary level, trade level, the high school level or the post-graduate level we have to be part of that solution.
“So, going forward, we believe that we have real opportunities in the Canada-Nigeria relations.’’
Speaking further on the trade relationship, Fast said “bilateral merchandise trade between Canada and Nigeria has more than tripled since 2006 to approximately $2.7 billion in 2011, making it Canada’s largest trading partner in sub-Saharan Africa.
“Canadian merchandise exports to Nigeria reached $227 million in 2011.
“The export items include vehicles, cereals, machinery and equipment, aerospace products, beverages and electronic and electrical equipment.’’
He put the total amount of key Canadian import from Nigeria in 2011, which include petroleum, cocoa and rubber, at $2.49 billion.
Aganga in his remarks said the meeting was to enhance the trade relations between the two countries
He said the discussion which centred “on trade issues, power, mining, education, vocational training, and agriculture as well as trade and investment related measures had indeed, been constructive and result oriented’’.
Aganga expressed hope that the visit would complement government’s efforts at attracting investors to the country and would translate into creating jobs for the teeming populace.