Nigeria and Kazakhstan have embarked on discussions aimed at deepening their economic collaboration, with a focus on trade, investment, and the exchange of technology. The high-level business meeting took place in Abuja on Sunday and was facilitated by the Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, in partnership with the Nigeria-Kazakhstan Business Council.
During the meeting, the Ooni of Ife underscored the importance of this burgeoning partnership, crediting President Bola Ahmed Tinubu’s proactive leadership for driving Nigeria’s economic diversification. He highlighted that Kazakhstan’s direct engagement with Nigeria marks a significant move toward forging new trade alliances, noting that the collaboration is set to create job opportunities for Nigerian youths, particularly in the technology sector.
In a bid to attract Nigerian talent in fields such as artificial intelligence and coding, Kazakhstan is reportedly revising its visa policies. The partnership also holds promise for Nigeria’s agriculture sector, with Kazakhstan showing interest in sourcing cocoa directly from Nigeria instead of relying on European intermediaries.
Kazakhstan’s Deputy Minister of Foreign Affairs, Alibek Kuantyrov, described the meeting as historic, as it represented the country’s first official business delegation to Nigeria. He pointed out the economic similarities between the two nations and expressed Kazakhstan’s interest in tapping into Nigeria’s oil and gas, agriculture, fintech, and satellite technology sectors. “We produce some of the world’s best grain and wheat and play a key role in food security in our region. We are eager to export to Nigeria while also sourcing Nigerian agricultural products directly,” Kuantyrov stated, adding that Kazakhstan is considering opening an embassy in Nigeria in recognition of its economic importance in Africa.
Nigeria’s Minister of Agriculture and Food Security, Abubakar Kyari, welcomed the partnership and stressed the need for foreign investment in agriculture. He announced that follow-up meetings would be scheduled to finalize trade agreements, and he highlighted that ongoing agricultural reforms have resulted in a 40% reduction in the prices of staple foods. “The President is committed to stabilizing food prices, and in the coming weeks, more measures will be introduced to control prices,” Kyari said.
Meanwhile, Dr. Daere Akobo, Chairman and CEO of PANA Holdings, emphasized the critical role of the private sector in harnessing economic opportunities. He pointed to Kazakhstan’s attractive tax incentives and free trade zones as significant advantages for potential investors, underlining the mutual benefits of this strengthened bilateral relationship.
Together, these discussions signal a robust commitment from both countries to advance their economic interests and set the stage for long-term partnerships that could significantly boost trade, investment, and technological innovation across Africa and beyond.
