Toronto, Canada — The maiden edition of the Nigeria-Canada Trade & Investment Summit and Awards (NICATISA) opened today at Homewood Suites & Hampton by Hilton, Toronto Airport, under the distinguished patronage of the Nigeria-Canada Parliamentary Friendship Group and the Federal House Committee on Nigeria-Canada Parliamentary Relations. Welcoming nearly 300 delegates from government, the private sector, and civil society, NICATISA 2025 sets the stage for a transformational partnership anchored in a shared economic vision and “Renewed Hope” for Nigeria’s growth trajectory.
“Today marks a pivotal moment in our Nigeria-Canada relationship,” declared Ambassador Nura Abba Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, in his keynote address. “Under President Bola Tinubu’s bold Renew Hope Reforms, we have witnessed an unprecedented uplift in our business environment, attracting both diaspora capital and global investors.”
Ambassador Rimi specifically acknowledged six cornerstone achievements of the Renew Hope agenda:
- Executive Orders streamlining company registration, licensing and customs clearance, cutting red tape by 40%.
- Fiscal reform package removing distortive fuel subsidies and redirecting savings into critical infrastructure.
- Launch of Special Economic Zones to catalyse manufacturing and export-oriented industries.
- Digitalisation of trade processes—e-customs, e-registration and e-invoicing—boosting transparency and reducing corruption.
- Central Bank measures to liberalise foreign exchange, incentivise diaspora remittances and stabilise the naira.
- Passage of the Investment Promotion Bill, guaranteeing investor protections and repatriation rights.
“These reforms are not abstract policy statements; they have translated into 15 per cent annual GDP growth in non-oil sectors and a surge of joint-venture inquiries from Europe, Asia and North America,” Ambassador Rimi added.
Over the next two (27-28 August) days, NICATISA delegates will:
- Advance negotiations on a Nigeria-Canada Preferential Trade Agreement (PTA)
- Finalise regulatory memoranda between NAFDAC–CFIA and Nigeria Customs–CBSA
- Chart a roadmap for direct air connectivity under a Bilateral Air Services Agreement
- Launch a Nigeria-Canada Binational Chamber of Commerce
- Showcase women- and youth-led enterprises ready for cross-border expansion.
President Tinubu’s Renew Hope Reforms have laid the groundwork; NICATISA will turn promise into performance, erecting new channels of commerce and cooperation that enrich both nations.
Signed
Dr Adebayo Thomas
Director
Press and Public Relations
27 August 2025
For media inquiries, please contact:
Press and Public Relations Office
Federal Ministry of Industry, Trade and Investment
Email: press@fmiti.gov.ng | fmitipress9@gmail.com
Phone: +234 8037863662
