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Nigeria, Vietnam Trade Hits $1bn as Envoys Push for Joint Ventures, Industrial Expansion

Ameh Gabriel F. Posted on 5 months ago 2 minutes read
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By Gabriel Ameh


ABUJA — Former Nigerian Ambassador to Vietnam, Ambassador Sani Bako, has called for deeper economic cooperation between Nigeria and Vietnam through joint ventures and industrial partnerships as both countries mark 50 years of diplomatic relations.


Speaking at a press briefing hosted by the Embassy of the Socialist Republic of Viet Nam in Abuja on Thursday to commemorate the 50th anniversary of Nigeria/Vietnam diplomatic ties, Bako described his experience in Vietnam as “the best” among all the countries where he had served.


The event, attended by Vietnam’s Ambassador to Nigeria, Bui Quoc Hung, highlighted the growing bilateral relationship between the two nations since diplomatic relations were established in 1976.


Bako recalled that when he arrived in Vietnam in 2007, there was limited awareness about Nigeria among the Vietnamese population, just as Nigerians knew little about Vietnam beyond its war history.


According to him, language barriers, cultural differences and limited information initially posed challenges for Nigerian diplomats and businesses operating in Vietnam.

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“To address the information gap, we collaborated with the Vietnamese Chamber of Commerce and Industry and travelled across provinces making presentations on Nigeria’s business and investment opportunities,” he said.


He noted that bilateral trade between both countries grew from about $20 million in 2003 to $50 million in 2007 before rising to about $105 million in 2008 following increased economic engagements and business forums organised in Hanoi and Ho Chi Minh City.


Bako said the sustained exchange of information and growing commercial activities between citizens of both countries eventually pushed trade volume to about $1 billion by 2024, a figure which he said was maintained in 2025.


Describing the achievement as “modest but promising,” the former envoy said the next phase of relations should focus on industrial cooperation and production partnerships.


He urged Vietnamese investors to establish industries in Nigeria in sectors such as agriculture, textiles, pharmaceuticals and food processing, noting that Nigeria’s population, market size and strategic location make it a strong gateway to the African market.


“Nigeria has the people, the land and the market, while Vietnam has the expertise and technology. These factors should be combined to deepen economic relations between both countries,” Bako stated.


He also expressed optimism that the foundation being laid by Ambassador Hung would strengthen ties between the two countries over the next 50 years.

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Ameh Gabriel F.

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