The Mexican Embassy in Nigeria has inaugurated the Nigeria-Mexico Chamber of Commerce (NMCC) and its new Board of Directors to enhance economic cooperation and bilateral trade.
The launch, held in Abuja, marks a pivotal milestone in deepening commercial and diplomatic ties between two of the largest economies in their respective regions.
Speaking at the ceremony, Mexican Ambassador to Nigeria, Alfredo Miranda, described the NMCC as a “new chapter” in the relationship between Mexico and Nigeria, aimed at unlocking their full economic potential.
“This is not only a bridge between businesses, but between ideas, innovation, and opportunities,” said Miranda. “Together, Nigeria and Mexico are powerhouses with immense capacity and bold ambitions.”
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Despite their economic potential, trade between Nigeria and Mexico remains underwhelming. In 2024, Nigerian exports to Mexico totaled just $103 million, mostly in commodities, while Mexico’s exports to Nigeria reached about $47 million, primarily in manufactured goods. Miranda noted that these figures reflect a significant underperformance and a loss of untapped opportunities, including job creation and technology exchange.
To address this, the NMCC will act as a platform to support businesses, facilitate market intelligence, and create strategic links across sectors.
The chamber, originally established in 2014, has been restructured to become more proactive and results-driven.
Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, represented by Ambassador Anderson Madubuike, echoed the importance of the chamber. “This initiative comes at an auspicious time when globalization demands stronger South-South collaboration,” he said. “Nigeria and Mexico can jointly make a meaningful impact on the global economy.”
Further underlining the importance of sector-specific investment, Minister of Livestock and Rural Development, Idi Mukhtar, highlighted agriculture and dairy processing as critical areas for collaboration. “We import over $1.5 billion in dairy products annually. This is an opportunity to localize production and expand our red meat industry,” he said.
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President of the NMCC, Arim Pete, emphasized that the chamber represents a new era built on trust and vision. “Mexico is the world’s 12th largest economy. By focusing on trade with Nigeria, we can leverage our complementary strengths for shared prosperity.”
