Nigeria urged to tap Mexico’s $1.8trn economy

  The federal government has been urged to explore and harness economic opportunities in Mexico’s $1.8 trillion economy as part of efforts to deepen trade, investment, and diplomatic relations between both countries. The newly inaugurated Honorary Consul of Mexico in Lagos, Biodun Otunola, stated this, emphasizing on the need to strengthen bilateral ties between the […]

 

The federal government has been urged to explore and harness economic opportunities in Mexico’s $1.8 trillion economy as part of efforts to deepen trade, investment, and diplomatic relations between both countries.
The newly inaugurated Honorary Consul of Mexico in Lagos, Biodun Otunola, stated this, emphasizing on the need to strengthen bilateral ties between the two nations.
He said Mexico’s large and diversified economy presents significant opportunities for Nigeria, particularly in sectors such as power, tourism, manufacturing, and infrastructure development.
According to him, deeper collaboration between both countries could stimulate investment flows, create jobs and support economic growth.
“Mexico is a $1.8 trillion economy and ranks among the top twelve economies in the world, presenting significant opportunities that Nigeria can leverage across several sectors,” he said.
Otunola expressed confidence that stronger economic cooperation between both countries could deliver tangible benefits within the next decade.
“I want to assure the business community that Lagos is open for business as we usher in a new chapter in the Lagos–Mexico relationship. Through stronger collaboration, we aim to stimulate investment, create jobs and contribute meaningfully to economic growth,” he said.

 

The Mexican Ambassador to Nigeria, Alfredo Miranda, said the establishment of the honorary consulate in Lagos would serve as a key platform for strengthening economic and diplomatic engagement between the two countries.

 

He noted that the appointment of Otunola reflects Mexico’s commitment to expanding cooperation with Nigeria and building stronger ties with Africa’s largest economy.

 

“I am confident that under his guidance, this consulate will become a dynamic point of connection between Mexico and Lagos, fostering dialogue, economic exchange and mutual understanding,” he said.

 

The governor of Lagos State, Babajide Sanwo-Olu, represented by the Secretary to the State Government, Bimbola Salu-Hundeyin, described the development as a milestone in the growing relationship between the Federal Republic of Nigeria and the United Mexican States.

 

According to the governor, Lagos remains one of Africa’s most dynamic economic centres and is well positioned to serve as a gateway for expanding trade and investment between Nigeria and Mexico.