The Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Dunoma Ahmed, made the call in Abuja during a reception marking Vietnam’s 81st National Day and the 50th anniversary of diplomatic relations between Nigeria and Vietnam.
Ahmed said Nigeria was seeking to deepen its economic relationship with Vietnam as part of efforts to expand trade, investment and productive partnerships with international markets.
He noted that the existing trade relationship between the two countries had already surpassed $1 billion, but said there was significant room for further growth.
Nigeria’s target is to double the current trade volume to $2 billion, with the government seeking stronger commercial ties as part of its broader ambition of building a larger and more diversified economy.
Ahmed said the two countries had maintained productive cooperation over five decades in areas including agriculture, trade and investment, defence and multilateral diplomacy.
He also identified several sectors where Nigeria and Vietnam could expand cooperation, including agro-processing, renewable energy, the digital economy, pharmaceuticals, manufacturing and skills development.
The Nigerian government further called for increased exchange of skills and stronger people-to-people connections, particularly among young people.
Vietnam’s Ambassador to Nigeria, Le Viet Hoang, said the two countries had considerable opportunities to expand economic cooperation and strengthen commercial relations.
Nigeria is already one of Vietnam’s significant trading partners in Africa. Products traded between the two countries include Nigerian cashew nuts, timber and liquefied natural gas, while Vietnamese exports to Nigeria include rice, consumer goods, textiles and technology products.
Hoang said Vietnam was prepared to share its experience in high-tech agriculture, rice production and processing, aquaculture and agro-processing with Nigeria.
Such cooperation could support Nigeria’s efforts to strengthen food production, improve agricultural value chains and expand domestic processing capacity.
The ambassador also identified telecommunications, infrastructure, innovation, e-commerce and financial technology as areas where businesses from both countries could develop stronger partnerships.
He encouraged Nigerian companies to explore opportunities in Vietnam while assuring businesses that the Vietnamese Embassy would continue to facilitate commercial engagement between the two markets.
The discussions come as Nigeria seeks to expand its international trade relationships beyond traditional markets and attract greater investment into productive sectors of the economy.
For Vietnam, deeper engagement with Nigeria offers access to one of Africa’s largest consumer markets, while Nigerian businesses could benefit from Vietnamese expertise in manufacturing, agriculture, technology and export-oriented production.
The 50th anniversary of diplomatic relations provides a platform for both countries to move beyond political ties and strengthen commercial cooperation.
Achieving the $2 billion trade target, however, would require increased investment, stronger business-to-business links, improved market access and greater movement of goods and services between the two countries.
Both sides have indicated their intention to build on the existing relationship, with trade and investment expected to remain central to the next phase of Nigeria-Vietnam cooperation.
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