Mkpoikana Udoma
Port Harcourt — Nigeria and Colombia have signed a historic Memorandum of Understanding, MoU, that sets the stage for deeper cooperation in oil, gas, and renewable energy, alongside trade and political relations.
The pact, sealed during the Nigeria-Colombia Bilateral Meeting and Business Forum at the Presidential Villa, Abuja, was signed by Nigeria’s Minister of Foreign Affairs, Amb. Yusuf Tuggar, and Colombia’s Deputy Minister of Multilateral Affairs, Mauricio Jaramillo Jassir.
Vice President Kashim Shettima, addressing the forum, underscored energy as a natural pillar of collaboration between both nations.
“In energy, Nigeria remains a leader in oil and gas, while Colombia has potential in coal and renewable energy. This is where our partnership can yield transformational outcomes,” he said.
Shettima urged private sectors from both sides to seize the opportunity to turn abundant resources into shared prosperity. “We must prioritise sectors that are natural strengths of our economies. From hydrocarbons to renewables, Nigeria and Colombia can build the kind of investments that secure jobs and prosperity for our peoples,” he stated.
Colombia’s Vice President, Francia Márquez, affirmed her country’s interest in collaborating with Nigeria on clean energy.
“We seek to explore new paths with Nigeria in renewable energy,” she said, stressing that Nigeria remains a strategic African market for Colombia.
Nigeria’s Foreign Affairs Minister Tuggar noted that the pact offered room to deepen economic and historical ties. “There is room for improvement in agriculture, hydrocarbons, and pharmaceuticals. This MoU provides a new platform to strengthen those linkages,” he said.
Colombian Deputy Minister of Multilateral Affairs, Jaramillo Jassir, highlighted energy cooperation as key to diversifying Colombia’s international relations.
“It is very important for Colombia to diversify its partnerships, especially with Nigeria as the best gateway to Africa,” he noted.
Nigeria’s Investment Promotion Commission, NIPC, used the forum to pitch Nigeria’s vast untapped resources to Colombian investors, pointing to 34 million hectares of arable land, significant crude oil and gas reserves, and emerging renewable energy opportunities.
Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole, added: “President Tinubu has removed distortions in the economy, from subsidy to exchange rate unification. With energy reforms and AfCFTA digital trade leadership, Nigeria is open for investment.”
