The Minister of Foreign Affairs, Amb. Yusuf M. Tuggar, has revealed that in 2024, bilateral trade between Nigeria and Colombia nations stood at ₦83.7 billion, with Nigeria accounting for ₦61.9 billion and Colombia ₦21.8 billion.
Tuggar revealed this in Abuja during the signing of a Memorandum of Understanding (MoU) on Political Consultations saying that the MoU signing was a major step toward strengthening the long-standing relation the two countries.
The agreement was reached at the recently concluded Nigeria–Colombia Bilateral Meeting and Business Forum, establishing a structured framework for regular dialogue on bilateral, regional, and international issues of mutual interest.
Both nations, which first established diplomatic relations on July 1, 1974, are celebrating 51 years of engagement built on mutual respect and shared values.
Colombia consolidated its presence in Nigeria in 2020 with the opening of its first honorary consulate in Abuja. Since then, the two countries have actively cooperated within multilateral platforms such as the United Nations, African Union, and the Non-Aligned Movement (NAM).
At the forum, discussions centered on advancing South-South cooperation through exchanges in agriculture, trade, energy, education, and culture. Delegates also highlighted opportunities for boosting trade and investment in oil and gas, mining, and renewable energy, with ongoing talks towards a Bilateral Investment Treaty.
Security collaboration also featured prominently, with both governments pledging closer cooperation in the fight against drug trafficking and transnational crime.
