In a statement issued Saturday, Alkasim Abdulkadir, special
assistant on media and communications strategy to Yusuf Tuggar, minister of
foreign affairs, said the investment promotion and protection agreement (IPPA)
will also strengthen Nigeria’s appeal as an investment destination while
offering protections for Singaporean investors.

The agreement was signed on August 22 just before the 5th
Singapore–Africa ministerial exchange visit (SAMEV) which held from August 26
to 28 in the Asian country.

SAMEV has, since its inception in 2014, provided a forum to
strengthen ties and exchange development experiences between Singapore and
African nations.

Abdulkadir said Tuggar participated in the event.

Gbenga Oyebode, co-founder of Aluko & Oyebode, one of
the largest integrated law firms in Nigeria; and Samaila Zubairu, president and
CEO of the Africa Finance Corporation, were key speakers.

“Both underscored Africa’s growing role in global economic
integration and Nigeria’s position as a hub for investment in the continent,”
the statement said.

“The BIT is expected to catalyse economic cooperation,
deepen investor confidence, and expand opportunities in key sectors such as
infrastructure, technology, and sustainable development.

“It also aligns with Nigeria’s broader foreign policy drive
to attract foreign direct investment and build global economic partnerships
under President Bola Ahmed Tinubu’s administration.”

Beyond the formal agreements, Abdulkadir said the platform
created avenues for Nigeria to showcase its economic reforms and build networks
with policymakers and business leaders from Asia and Africa.