Nigeria and Bangladesh Strengthen Ties, Aim for $1 Billion Trade by 2030

Oru Leonard

Nigeria and Bangladesh are set to strengthen their bilateral ties as they celebrate the 54th Independence and National Day of Bangladesh. The Nigeria Bangladesh Business and Technology Forum (NBBTF) and the African Center for Asia +Bangladesh Studies (AfCA+BS) have congratulated Bangladesh on its remarkable socio-economic progress and resilience.

In a congratulatory message, NBBTF’s President, Arc. Bob M. Achanya (PhD), commended the Bangladesh High Commission in Nigeria, led by High Commissioner H.E. Mr. Masudur Rahman, for fostering bilateral ties. Achanya emphasized the need to enhance diplomatic, trade, and cultural engagement between the two nations.

To boost bilateral trade, currently valued at $100 million annually, NBBTF recommends negotiating preferential trade agreements, leveraging Bangladesh’s microfinance expertise to empower Nigerian SMEs, and exploring partnerships under the AfCFTA framework.

Achanya applauded the Bangladesh High Commission in Nigeria, led by High Commissioner H.E. Mr. Masudur Rahman, for fostering bilateral ties. Mr. Rahmans dedication to enhancing diplomatic, trade, and cultural engagement which has laid a robust foundation for future collaboration.
Nigeria-Bangladesh Relations: Current Status and Forward Pathways to include:

• Technology and Innovation: Establishing joint innovation hubs for fintech, agritech, and renewable energy, and collaborating on cybersecurity frameworks and AI research.
• Education and Research: Creating scholarship programs, fostering university partnerships, and promoting academic exchanges.
• Diplomatic Infrastructure: Establishing a Nigerian consulate in Dhaka to streamline visas, trade facilitation, and citizen services.
• Institutional Frameworks: Formalizing a Nigeria-Bangladesh Binational Commission to coordinate biennial summits, track trade/defense goals, and resolve disputes.
• Defense and Security: Deepening security and defense collaboration through counterinsurgency intelligence sharing, joint naval exercises, and UN peacekeeping training programs.
• Youth and Cultural Synergy: Launching joint tech incubators, cultural festivals, and sports diplomacy initiatives.

NBBTF aims to prioritize pillars for Nigeria and Bangladesh to emerge as Global South partners driving inclusive growth, technological leapfrogging, and youth empowerment by 2033.