Bagudu woos Denmark, seeks deeper trade, investment ties

n n

By Progress Godfrey

n

ABUJA – The Federal Government has sought deeper trade and investment ties with Denmark as part of efforts to strengthen bilateral cooperation and attract more private sector participation into key sectors of the economy.

n

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made the call in Abuja while receiving the Ambassador of the Kingdom of Denmark to Nigeria, Mr Jens Ole Bach Hansen, saying Nigeria wants to expand its longstanding partnership with Denmark in areas of shared economic interest.

n

According to a statement by the ministry on Wednesday, Bagudu said both countries could strengthen cooperation in agriculture, livestock development, the digital economy, the blue economy and the judicial sector, while also working together to promote trade, peace and security, knowledge sharing and efforts to address irregular migration.

n

“We are quite honoured by this engagement, and the short answer is yes, we want more. We are happy to have more open discussions and to expand our relationship,” the minister said.

n

He noted that Nigeria’s foreign policy places strong emphasis on building partnerships with countries committed to inclusive growth, sustainable development and shared prosperity. He also acknowledged Denmark’s contributions to global development and its support for economic growth initiatives.

n

The minister said President Bola Ahmed Tinubu’s Renewed Hope Agenda was addressing decades of underinvestment while creating an enabling environment for private sector investment. He added that work was being done to build a transparent and competitive investment climate that gives investors confidence to deploy capital and earn sustainable returns.

n

“Correcting decades of underinvestment across almost all sectors can only be achieved by learning from countries that have successfully solved similar challenges, especially those with strong and vibrant private sectors,” he said.

n

Bagudu added that Nigeria’s reform efforts were gaining international recognition, saying improved economic confidence is reflected in market indicators, investor interest and increased capital flows. He also stated that the country attracted about $7 billion in infrastructure investment over the past two years, attributing the figure to the impact of ongoing reforms.

n

Also speaking, Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, reaffirmed Nigeria’s commitment to expanding its longstanding relationship with Denmark to deliver greater economic benefits for both countries.

n

Earlier, Hansen said Denmark remains committed to strengthening its partnership with Nigeria, describing the relationship as one built on shared values, mutual respect and common priorities. He also commended Bagudu for supporting stronger bilateral relations and appreciated his attendance at Denmark’s National Day Reception.

n

The ambassador disclosed that Denmark was expanding its diplomatic presence in Nigeria through a larger embassy and additional diplomatic personnel covering politics, defence, agriculture and other strategic areas. He said the move reflects Denmark’s growing commitment to Nigeria and the wider West African region.

n

He further highlighted Denmark’s growing commercial engagement with Nigeria, pointing to the presence of major Danish companies and the establishment of the Investment Fund for Developing Countries (IFU) office in Lagos to support sustainable private sector investments.

n

He identified agriculture, maritime development and security, and the digital economy as existing areas of cooperation.
Hansen added that Denmark is exploring collaboration with Nigeria in education, culture, the creative economy and the judicial sector.

n

He said Denmark sees encouraging signs in Nigeria’s economy and believes the ongoing reforms are creating opportunities for stronger investment partnerships. He also proposed a formal political partnership framework to deepen cooperation across sectors and recalled the visit of Her Majesty the Queen of Denmark to Nigeria, expressing confidence that both countries would continue to build on their existing relationship.

n n