Babalola Seeks Ratification of Canada-Nigeria Investment Pact

As global attention turns to the upcoming Canada-Africa Fintech Summit and the Canada-Africa Trade and Investment Expo 2025, renowned Pan-African faith leader and economic strategist, Apostle Cornelius Olajide Babalola, has issued made a call for the final ratification of the Canada-Nigeria Foreign Investment Promotion and Protection Agreement (FIPA).

In a statement on Sunday, he noted that the FIPA which was signed in May 2014, was crafted to create a stable, transparent, and investor-friendly environment between Nigeria and Canada.

Yet, over a decade later, this landmark agreement remains unratified—stalling the full economic potential of one of Africa’s most strategic partnerships.

“We have waited long enough,” said Apostle Cornelius. “The world is watching. The 2025 Expo is the right moment to bring FIPA to life—to prove to investors and citizens alike that Nigeria and Canada are serious about building a future anchored in trust, innovation, and mutual prosperity.”

The Canada-Nigeria FIPA guarantees: protection against unfair treatment and discrimination, neutral dispute resolution, including access to international arbitration, government flexibility to regulate in public interest areas like health, labour, and the environment.

According to him, its ratification would send a bold signal that Nigeria is open for business—not just any business, but investment grounded in integrity, accountability, and long-term development.

The Canada-Africa Trade and Investment Expo, taking place from August 3–8, 2025, comes at a time when Canada is scaling up its engagement with Africa through its new Global Africa Strategy.

According to the him, Nigeria is pushing forward with bold reforms under the Renewed Hope Agenda, seeking to boost non-oil exports, attract global capital, and empower its young population.

The Expo will host over 500 stakeholders, including top government officials, global investors, development finance institutions, CEOs, and innovation leaders—making it an ideal platform to announce the ratification of FIPA.

“This is not just a trade event—it’s a strategic convergence of vision, leadership, and opportunity,” Apostle Cornelius said. “We must seize this moment.”

According to Babalola, ratifying the FIPA could ignite investment in critical sectors of Nigeria’s future in Agriculture and Agri-Business, strengthening value chains and food security, renewable Energy an Infrastructure, driving energy access and sustainable growth, boosting financial inclusion and digital innovation, creating jobs and scaling local enterprises, enhancing transparency and environmental responsibility in Oil and Gas Services, among others.

“Canada brings world-class expertise and capital. Nigeria offers scale, talent, and market potential. FIPA can turn this potential into powerful, inclusive partnerships,” he added.