FIC Report (Lagos State) – The Lagos State Government and the Republic of Liberia on Wednesday declared their readiness to turn decades of diplomatic ties into real business deals, as they hosted the inaugural Liberia–Nigeria Trade & Investment Forum, LNTIF 2026, at the Lagos Continental Hotel, Victoria Island.
With the theme “Building Bridges for Shared Prosperity: Strengthening Liberia–Nigeria Trade and Investment Partnership,” the Forum brought together top government officials, investors and business leaders from both countries.
Governor Babajide Olusola Sanwo-Olu, who was represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Hon. Folashade Bada Ambrose-Medebem, said Lagos was ready to serve as the Nigerian anchor for the partnership.
Welcoming the Liberian delegation, the Governor noted that despite strong historical ties, trade figures remain low.
“Nigeria’s exports to Liberia stood at only 21 million United States dollars in 2024, a figure that should give all of us in this room both pause and purpose,”he stated.
He stressed that the relationship between both nations goes beyond diplomacy.
“The bonds between our two Nations are not just Diplomatic; they are Historical, Cultural, and Fraternal. From the shores of Monrovia to the markets of Lagos, our Peoples have traded, travelled, and prospered together for generations,” Sanwo-Olu said.“Yet we must be honest with ourselves: the volume of Trade and Investment between our two Countries does not yet reflect the depth of our friendship or the scale of our possibilities.”
The Governor argued that real trade happens in cities, not just in capital meetings.
“Treaties are signed in Capitals, while Trade happens in Cities. Lagos is where Africa’s ambitions meet execution. If Liberia and Nigeria are to build bridges for shared prosperity, then Lagos offers itself as a natural anchor on the Nigerian side of that bridge,” he said, noting that Lagos’ economy is estimated at 59 billion dollars in purchasing power parity, making it the second-largest city economy in Africa.
He outlined four areas for immediate collaboration: trade facilitation through better maritime links and customs processes; investment in agriculture, mining, energy, tourism and infrastructure; innovation and skills development via tech ecosystem exchanges; and institutional partnerships between Lagos agencies and Liberian counterparts.
“Lagos is open for business, open to Liberia, and open to the shared prosperity of West Africa,” the Governor declared.
Leading the Liberian delegation, the Minister of Foreign Affairs, Her Excellency Mme. Sara Beysolow Nyanti, said Liberia was pivoting to economic diplomacy.
“The government cannot be the largest employer in the country. The government will not be able to build a private sector to create jobs. The government will create a living environment for that to happen,”she said. “This is why Nigeria is important. There is no Nigeria without Lagos.”
Minister Nyanti pointed to Liberia’s natural assets, including 40 per cent of Africa’s rainforest and the world’s largest ship registry. She praised Lagos’transformation of Bar Beach into Eko Atlantic City as proof of what is possible.
“We believe similar transitions are possible in Liberia through symbiotic partnership,”she added.
The Minister of Commerce and Industry, Hon. Magdalene E. Dagoseh, reeled out reforms aimed at making Liberia more investor-friendly.
“Our goal is simple. It should generate jobs, encourage innovation, and improve people’s lives. I want to share a single message with investors: Liberia is open for business,”she declared.
She cited the digitisation of business registration, decentralisation of the Liberia Business Registry, and the Liberia Investment, Finance and Trade Project which has supported 250 SMEs, many led by women and young people.
Representing the Minister of State for Foreign Affairs, Dr. Ilesanmi Bakare described the Forum as historic.
“Our greatest export is not oil; it is our people. Our entrepreneurs fill African markets, connecting creativity,” he said.
Dr. Umar Joseph, who represented the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, listed three priority areas for Nigerian businesses in Liberia: agro-processing and value addition, fintech and digital trade integration, and manufacturing in special economic zones.
“When we look across our borders, we do not see competitors. We see missing pieces of one gigantic simple power that we have to work together to fix,” he stated.
The Honorary Consul of Liberia in Lagos, Barrister Dapo Akinosun, urged both sides to move from talk to action.
“Investment follows bankable projects and called for full implementation of agreements to achieve inclusive development. This Forum must open a new chapter of promises and open doors in crossing the bridge,”he implored.
Liberia’s Ambassador to Nigeria, His Excellency John Akel Ballout Jr., said Liberia was digitizing business systems to improve transparency and invited Nigerian partners into logistics, transportation and agro-economy.
The Forum ended with a resolve to sign new Memoranda of Understanding under the African Continental Free Trade Area, AfCFTA, establish factories, open new shipping routes, and create jobs in both countries.
Sourced and Reported by:
IYEDEH, Onowouzou David
ACIO&PRO
17/07/2026
