Nigeria-Vietnam Relations Growing in Trade and Investment — Amb. Bako

Nigeria’s pioneer Head of Mission to the Socialist Republic of Vietnam, Ambassador Sani Bako, has stated that diplomatic relations between the two post-colonial states, which began as political solidarity 50 years ago, have evolved into a partnership delivering results in trade, investment, and cultural exchange.

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The partnership deepened with the establishment of resident missions. Nigeria opened its Embassy in Hanoi, the administrative capital, in 2007, and Vietnam reciprocated by opening an Embassy in Abuja in the same year.

Reflecting on the 50th anniversary of Nigeria-Vietnam relations, which took effect on 25th May 1976, Ambassador Bako noted that the volume of trade between the two countries stood at $1 billion as of 2024.

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“Vietnam currently exports electronics, garments, textiles, and other consumer goods to Nigeria, while importing crude oil, cashew nuts, and several raw materials,” he said. “Interestingly, the trade balance favours Nigeria.”

He stressed that the time has come for economic ties between both countries to evolve into a partnership that would lead to technology transfer, manufacturing, and agricultural investment. He added that Vietnam has expertise in modern agriculture that Nigeria could leverage.

Ambassador Bako, who is the Chairman of the Nigeria-Vietnam Trade and Cultural Association (NVETCA), added that the association is facilitating private sector engagement to deliver visible partnerships in farming, manufacturing, and other ventures that will strengthen economic ties in the near future.

He recalled that President Bola Ahmed Tinubu, in a recent meeting with Vietnamese Ambassador Bui Quoc Hung, emphasized that Nigeria is open for business with Vietnam. “Vietnam is a partner we want to grow with,” the President stressed.

Ambassador Bako also noted that Ambassador Hung has called on Nigeria to address lingering visa obstacles affecting officials and business travelers. He pointed out that a 2019 visa waiver agreement reached by both countries has not been fully implemented, adding that resolving this would be critical to sustaining momentum in bilateral relations.

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