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Malaysia and Nigeria enhance bilateral relations as trade reaches $747 million 

Aiyub bin Omar, Malaysia’s High Commissioner to Nigeria, has reiterated his country’s dedication to strengthening diplomatic relations with Nigeria, particularly in trade and education, as they approach 60 years of bilateral relations by 2025.

Speaking at an event commemorating Nigeria’s 67th Independence Day and Malaysia’s 61st National Day on Friday in Abuja, Omar highlighted that the total bilateral trade between the two countries reached $747 million by July 2023.

“In essence, our bilateral relations focus on trade, education, people-to-people contact, and bilateral development assistance. Globally, Nigeria ranks as Malaysia’s 37th trading partner, with total bilateral trade valued at $956 million in 2023. This year, our bilateral trade reached $747 million by July”, he said

He also noted that Nigeria currently ranks as Malaysia’s 4th largest trading partner in Africa, following South Africa, Kenya, and Côte d’Ivoire.

ICT partnership 

The Minister of Foreign Affairs, Amb. Yusuf Tuggar, represented by Amb. Mistura Abdulraheem, Director of the Asia-Pacific Division in the ministry, commended the Malaysian people for their unity, resilience, and progress.

Tuggar highlighted the collaboration between the two nations, which has facilitated critical exchanges in technology transfer, capacity building, and innovation.

“This partnership in technology highlights the potential of our countries working together to address the challenges of the 21st century. By leveraging Malaysia’s advancements in areas such as ICT, digital innovation, sustainable development, and oil markets, we are creating opportunities for our people and economies,” he added.

He noted that Nigeria and Malaysia have a long-standing diplomatic relationship built on mutual respect, shared aspirations, and common interests.

“Our two countries have enjoyed strong diplomatic ties for decades, built on a foundation of mutual cooperation in various sectors, including trade, education, and technology,” he said.

The Malaysian High Commissioner stating that since 1981, 569 Nigerian government officials have benefited from the Malaysian Technical Cooperation Programme (MTCP) in various technical courses, including trade, economy, construction skills, and cybersecurity.

Additionally, he pointed out that Malaysia remains a preferred destination for Nigerian students pursuing tertiary education, with approximately 3,386 students enrolled in Malaysian public and private institutions

What you should know 

The National Palm Produce Association of Nigeria (NPPAN) announced that the Federal Government is set to sign a pivotal Memorandum of Understanding (MoU) with the Malaysian Government to advance the development of palm biomass in Nigeria.

The focus of this initiative is to transform this waste into wealth by collaborating with Malaysian counterparts to replicate the success of Malaysia’s palm biomass industry in Nigeria.

Amb. Alphosus Inyang, President of NPPAN, highlighted the potential economic impact of this development, projecting a contribution of $10 billion to Nigeria’s Gross Domestic Product (GDP) within four years and the generation of over five million jobs within five years.


Source: Naijaonpoint.com.

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