The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, on Sunday hosted a 30-member delegation from Kazakhstan, comprising top government officials and business leaders, at the maiden edition of the Nigeria-Kazakhstan Business Council International Conference held at Transcorp Hilton, Abuja.
Leading the delegation was Kazakhstan’s Deputy Minister of Foreign Affairs, Mr. Alibek Kuantyrov, who engaged with Nigerian stakeholders to strengthen bilateral trade and investment ties. In his address, the Ooni, who serves as the Chairman of the Nigeria-Kazakhstan Business Council, commended President Bola Ahmed Tinubu’s economic policies, stating that the hardships resulting from reforms are gradually giving way to positive outcomes.
“We all know the challenges our country has faced, but we are beginning to witness positive changes. For the first time in 20 years, the gap between the parallel and official exchange markets has been completely closed, creating a more stable investment climate. Nigeria is now an investor-friendly country. Our capital market has been repositioned for better foreign investment inflows, and many Nigerian entrepreneurs are eager to collaborate with their Kazakhstan counterparts,” the Ooni said.
The monarch highlighted that last year’s meeting between President Tinubu and Kazakhstan’s President set the foundation for the growing economic ties between both nations. On his part, Deputy Minister Kuantyrov lauded the Ooni for his commitment to fostering international partnerships, describing him as a “spectacular African monarch.” He noted that Kazakhstan, with a population of just 20 million people, has achieved significant digital transformation, with over 90 percent of transactions conducted without cash. He urged Nigeria to consider opening an embassy in Kazakhstan to further ease diplomatic and business relations.
“Our goal is to promote food security for the entire Central Asian region and beyond. Kazakhstan established the Organisation of Islamic Food Security, which now has more than 40 member countries. We look forward to closer cooperation with Nigeria in this sector and hope for the establishment of a Nigerian embassy in Kazakhstan to strengthen our bilateral ties,” Kuantyrov said.
Speaking at the event, Nigeria’s Minister of Agriculture and Food Security, Abubakar Kyari, praised the Ooni’s role in uniting traditional institutions with economic development efforts. He confirmed reports that food prices across Nigeria had dropped by 40 percent in the past month, attributing it to improved agricultural policies and increased supply.
“We have deployed teams to monitor market trends, and real-time data confirms that food prices have dropped significantly. However, we urge food processors to reflect these changes in their pricing to benefit Nigerian consumers,” Kyari stated. He credited President Tinubu’s N200 billion intervention in the agricultural sector for boosting food production and discouraging hoarding. “With improved harvests and continued government intervention, we are working towards an all-year-round food production cycle,” he added.
The conference was part of a broader initiative by the Nigeria-Kazakhstan Business Council to attract foreign investment into Nigeria. Three weeks earlier, the council, on behalf of the Ooni, sent a delegation to Kazakhstan to engage with key stakeholders, including government officials, manufacturers, and trade merchants. During their visit to Astana, Kazakhstan’s capital, the Nigerian business team explored investment opportunities and partnerships, particularly through Ojaja Silkway Corporation, a Kazakhstan-registered entity facilitating commodity exchange and investment between both nations.
The high-profile event featured several prominent figures from both Nigeria and Kazakhstan. Nigerian representatives included the Minister of Agriculture and Food Security, Abubakar Kyari; Permanent Secretary of the Ministry of Communication and Digital Economy, Engr. Faruk Yusuf Yabo; Special Adviser to the CBN Governor, Tony Ogufere; Chairman of Keystone Bank Plc, Ada Chukwudozie; CEO of PANA Holdings, Chief Dare Akobo; and Group Managing Director/CEO of Abuja Investment Company, Amb. Maureen P. Tamuno.
The Kazakhstan delegation included Deputy Minister of Foreign Affairs, Alibek Kuantyrov; Vice Minister of Trade and Investments, Kairat Torebayev; Kazakhstan’s Ambassador to Algeria, Anuarbek Akhmetov; and Group Chairman of Freedom Holdings, Timur Turlov.
The Nigeria-Kazakhstan Business Summit marked a significant step in strengthening economic cooperation between the two nations. With increasing diplomatic engagements and investment discussions, both countries are poised to explore mutual opportunities in trade, agriculture, and financial markets.
Post a Comment