Nigeria and Singapore have signed a landmark bilateral investment treaty aimed at encouraging and safeguarding investments between the two nations. The investment promotion and protection agreement (IPPA), signed on August 22 ahead of the 5th Singapore–Africa Ministerial Exchange Visit (SAMEV), is expected to strengthen Nigeria’s appeal as a key investment destination while providing greater security for Singaporean investors.

In a statement, Alkasim Abdulkadir, special assistant on media and communications strategy to Foreign Affairs Minister Yusuf Tuggar, noted that the treaty will catalyse economic cooperation, deepen investor confidence, and expand opportunities in critical sectors such as infrastructure, technology, and sustainable development. He added that the agreement aligns with President Bola Ahmed Tinubu’s broader foreign policy drive to attract foreign direct investment and cement Nigeria’s role as a hub for global partnerships.

During SAMEV, which ran from August 26 to 28, Tuggar joined policymakers, diplomats, and business leaders in high-level engagements. Notable Nigerian figures such as Gbenga Oyebode, co-founder of Aluko & Oyebode, and Samaila Zubairu, president and CEO of the Africa Finance Corporation, featured as key speakers. Both underscored Africa’s growing role in global economic integration and Nigeria’s strategic position within it. The platform also gave Nigeria an opportunity to showcase ongoing economic reforms and strengthen its ties with Asian partners.