Sanwo-Olu, Canadian Envoy Push for Stronger Investment and Trade Relations

Sanwo-Olu, Canadian Envoy Push for Stronger Investment and Trade Relations
Sanwo-Olu Seeks More Investment in Key Sectors
Canada Targets Deeper Economic Partnership With Lagos, Says High Commissioner

Lagos State Governor, Babajide Sanwo-Olu, has expressed the state’s readiness to deepen trade, investment and economic cooperation with Canada.

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Eko Hot Blog reports that Sanwo-Olu said stronger international partnerships must translate into tangible economic opportunities, job creation and long-term value for residents of Lagos.

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The governor spoke on Tuesday at the Lagos State House, Marina, when he received the High Commissioner of Canada to Nigeria, Pasquale Salvaggio, and Deputy High Commissioner Carlos Rojas-Arbulu on a courtesy visit.

Sanwo-Olu said Lagos had maintained growing economic engagements with Canada over the years, particularly in sectors including infrastructure, clean technology, agro-food, healthcare, mining, financial services, information and communication technology and education.

He noted that the state had also hosted Canadian trade missions and engaged with mayors and other officials from Canada as part of efforts to strengthen bilateral relationships.

According to the governor, the existing relationship between Lagos and Canada could be expanded further to create more opportunities for businesses and investors on both sides.

“In the last seven years, I think we’ve created the time to always have engagement, positive, constructive engagement,” Sanwo-Olu said.

Sanwo-Olu, Canadian Envoy Push for Stronger Investment and Trade Relations

He added that the engagements had produced a steadily growing relationship, but stressed that there was still considerable room for both sides to do more.

Sanwo-Olu said his administration was particularly interested in converting diplomatic relationships into concrete economic partnerships that could benefit Lagos residents.

Speaking during the meeting, Salvaggio said Canada had developed a comprehensive Africa strategy aimed at strengthening its relationships with countries across the continent, with Nigeria identified as a major priority.

The Canadian envoy described Nigeria as a natural partner for Canada and expressed his country’s willingness to deepen economic ties with the country.

He also urged the Nigerian government to conclude the long-standing Foreign Investment Protection Act, saying the agreement would provide greater certainty and assurances for investors from both countries.

Salvaggio said improved investment protection would be particularly important at a time when Canadian business interest in Nigeria was increasing.

He recalled that more than 30 Canadian companies participated in a trade mission to Lagos in June, describing the development as an indication of the growing economic relationship between Canada and Nigeria.

The high commissioner also noted that Canada’s minister had visited Nigeria and held discussions with the Lagos State Government as part of ongoing efforts to strengthen bilateral and economic cooperation.

Salvaggio said Lagos remained particularly important to Canada’s engagement with Nigeria because of its strategic position as the country’s commercial centre and one of the most significant economic hubs in Africa.

He expressed optimism that the growing engagement between Lagos and Canada would translate into increased investment and stronger economic cooperation in the coming years.