SINGAPORE SEEKS STRONGER ECONOMIC TIES WITH NIGERIA 21-11-24
By Sadiq Aminu The Government of Singapore has expressed its commitment to strengthening bilateral ties with Nigeria.
This was revealed during a visit by Dr. Maliki Osman, Minister in the Prime Minister’s Office of Singapore, who led a delegation to the Ministry of Foreign Affairs in Abuja.
Dr. Osman, who also serves as Singapore’s Second Minister of Education and Foreign Affairs, announced that the two nations would commemorate their 55th anniversary of diplomatic relations next year.
He highlighted several agreements that have enhanced their economic partnership, including a treaty to avoid double taxation on income and capital gains.
Nigeria and Singapore have maintained strong economic relations through agreements such as the Nigeria-Singapore Bilateral Investment Treaty and the Singapore-Nigeria Air Services Agreement.
These efforts aim to promote investment and facilitate trade between the two countries.
Dr. Osman noted that Nigeria is Singapore’s fourth-largest trading partner in Sub-Saharan Africa, with trade volume exceeding 500 million Singapore dollars.
He added that by 2022, Singaporean companies had invested over 4.5 billion U.S. dollars in Nigeria, focusing on sectors like agribusiness, oil and gas, transport, logistics, and infrastructure.
He also extended an invitation to Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, to attend the 2025 High-Level Ministerial Visit in Singapore, which is organized bi-annually for African nations.
In response, the Permanent Secretary of Nigeria’s Ministry of Foreign Affairs, Ambassador Dunoma Ahmed, emphasized the importance of exploring new areas of collaboration, particularly in trade and technical assistance.
He commended Singapore’s significant contributions to Nigeria’s economic growth, especially in job creation and GDP development.