Canada and Nigeria have a long history of diplomatic ties, dating back to Nigeria's independence in 1960, where Canada initially maintained a non-interference policy. The two countries have maintained positive relations, with Canada providing aid and support for Nigeria's development and governance initiatives. Canada has been an advocate for democratic governance in Nigeria and supported peace processes during conflicts.
Historical and Political Ties
Canada was a key actor within the Commonwealth, advocating for the Nigerian military junta's transition to democracy.
Economic Relations and Trade
Nigeria is Canada’s second-largest trading partner in Africa, with a trade exchange of approximately $1.4 billion in 2020. In 2023, bilateral merchandise trade reached C$3.6 billion, making Nigeria Canada’s largest African trading partner. Canada imported C$3 billion in mineral oils, fuels, and cocoa, while exporting C$579 million worth of cereals, fertilizers, and motor vehicles.
The two nations signed a Foreign Investment Promotion and Protection Agreement in May 2014, which was ratified by Canada but not by Nigeria due to inconsistencies with Nigeria's 2016 bilateral investment treaty.
On 4 July 2024, Nigerian ministers met with a Canadian delegation to discuss economic reforms, business opportunities, and investments. The Canada-Nigeria Business & Investment Summit, held in Toronto on 9-10 October 2024, exemplified the growing economic collaboration between both countries, especially in sectors like agriculture, energy, fintech, infrastructure, and natural resources.
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Canada's Africa Oil Corporation is expanding its operations in Nigeria, with plans to double production and reserves, focusing on deep-water oil fields operated by TotalEnergies and Chevron.
Key Trade Figures Between Canada and Nigeria (2023)
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Here's a summary of the trade relationship in 2023:
| Category | Value (CAD) |
|---|---|
| Total Bilateral Merchandise Trade | $3.6 billion |
| Canadian Imports from Nigeria | $3 billion (Mineral oils, fuels, cocoa) |
| Canadian Exports to Nigeria | $579 million (Cereals, fertilizers, motor vehicles) |
People-to-People Ties and Diaspora
There are over 55,000 Canadians of Nigerian descent, fostering strong people-to-people ties. From Calgary bakeries to Toronto tech start-ups and Vancouver real-estate ventures, Nigerians have become integral to Canada’s entrepreneurial fabric.
“Diaspora professionals are uniquely positioned to interpret two worlds,” said an NCBN representative. “They understand the Canadian market’s discipline and the Nigerian market’s dynamism. Panels on “The Diaspora as Catalysts for Trade and Innovation” and “Financing Across Borders” explored how remittances, digital banking, and diaspora investment groups can evolve from personal transfers to structured capital flows.
Future Initiatives
The Nigeria-Canada Economic and Financial Inclusion Summit 2025 serves as a strategic platform to strengthen bilateral economic relations between Canada and Nigeria through targeted investment promotion, trade facilitation, and financial inclusion initiatives.
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Education also featured prominently. The conference also echoed Canada’s broader Africa Strategy, which emphasises sustainable development, climate action, and inclusive growth. With Africa projected to host one in five consumers worldwide by 2030, the timing could not be better.
Current partnerships between Nigeria and Canada include trade in crude oil export, raw materials and jobs exportation. Nigerian minister of trade and investment Olusegun Aganga said after a meeting of the Nigerian-Canada Bi-national Commission, “We have have a common trade areas with the Canadian government and private sector. “There are also a number of state governments willing to participate. “One is the bi-national commission between the two countries while the other big thing is the investment forum which is going to take place from 2-4 May 2013.
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