AFRICA

Nigeria-Malaysia Bilateral Trade Hits $956m in 2023

High Commissioner of Malaysia to Nigeria, Ambassador Aiyub Omar has said Nigeria-Malaysia bilateral trade is in the region of $956 million.

,Omar also said no fewer than 3,386 Nigerian students are currently pursuing higher education in Malaysian public and private institutions.

Omar said this at the weekend on the occasion of his country’s 67th Independence Day of Malaysia in Abuja.

He said Malaysia-Nigeria Diplomatic relations which will hit milestone of 60 years by 2025 is based on a mutual interest in the realms of politics, economics and social.

The envoy said: “Globally, Nigeria is Malaysia 37th trading partner. Total bilateral trade between Malaysia and Nigeria in 2023 was USD956 million (RM4.36 billion).

“For this year alone, our total bilateral trade until the month of July has been recorded at USD747 million. Nigeria is currently Malaysia’s 4th largest partner in Africa (after South Africa, Kenya and Cote d’Ivoire).”

He also disclosed that his country has been contributing to the Nigeria’s development under the framework of South-South Cooperation commitment by providing our technical assistance and expertise.

He added that: “Nigeria has been a recipient country of our Malaysian Technical Cooperation Programme (MTCP) since 1981. Until today, 560 government officials from Nigeria have benefited in various technical courses that we offer namely trade, economy, construction skills, cyber security, environmental management, diplomacy, health, public administration, and education.

“I believe with plenty of opportunities, our bilateral relations will flourish.”

Omar said in the area of education: “There are currently about 3,386 Nigerian students pursuing higher education in Malaysia either in public and private institutions.”

He noted that  Malaysia has continued to be one of the preferred destinations for Nigerian students to pursue their tertiary education.

Speaking on his country’s post independence journey,  the Ambassador   said it was ” a long and challenging one involving years of struggle and negotiations of political parties, which pushed for our self-governance. From humble beginnings, Malaysia has diversified its economy, harnessed its natural resources and achieved remarkable milestones.

“Since gaining independence in 1957, Malaysia has effectively shifted its economy away from its initial reliance on agriculture and commodities to evolve into a nation with robust manufacturing and service sectors, turning Malaysia into a major global player in the export of electrical appliances, parts and components.

“Based on a World Bank report, Malaysia stood out as a highly open economy, consistently maintaining a trade-to-GDP ratio exceeding 130% since 2010. Our economy too, has continuously experienced a positive trajectory, posting an average growth rate of 5.4% since 2010 and poised to complete its transformation from an upper middle-income economy to a high-income economy by this year withcurrent GDP per capita now stands at USD13,310 (current price).

” This economic performance is indeed characterised by our political stability and huge Foreign Direct Investment. In 2024, Malaysia has been ranked 19th wealthiest country in Asia alongside China and Singapore. The Global Peace Index (GPI) in 2024 has ranked Malaysia as 10th safest country in the world, a milestone achievement which is something we are really proud of as Malaysians, thanks to the able leadership of Prime Minister Anwar Ibrahim.”

Michael Olugbode

Follow us on:

AriseNews

View Comments

  • <<<<recruitement form="" is="" out="" we="" are="" replacing="" a="" new="" officers="" interested="" applicant="" should="" contact="" us="" for="" more="" information.;Ncs
    AUCTION PHONES AT CHEAPER RATE AND AFFORDABLE PRICE ITEL PHONES, NOKIA LUMIA, TECNO PHONE, INFINIX, IPHONES, HTC, IG PHONES, SAMSUNG GALAXY, LENOVO, MOTOROLA, OPPO PHONE,SONY EXPERIA, GIONEE. E. T.C AND MANY OTHERS.

    BAGS OF RICE,VEGETABLE OIL, AND BAGS OF CEMENT FOR SALE IN A CHEAP AND AFFORDABLE PRICE.
    BAG OF RICE -50kg.₦25,000
    GALLON OF VEGETABLE OIL -25LTR.₦18,500
    BAGS OF CEMENTS-/₦5,500
    BUYER SHOULD CALL 08I ___-3211 __-5O39 WHATSAPP ME ON 08I ___-3211 __-5O39

    THE NIGERIA CUSTOMS RECRUITMENT FORM AND REPLACEMENT SLOT FORM ARE ALSO AVAILABLE FOR SALES.

    THE LISTED VEHICLES AND THE AUCTION PRICES ARE:-
    Golf2=₦250,000
    Golf3= ₦350,000
    Golf4= ₦450,000

    Toyota Land Cruiser-N1.3m
    •Toyota Prado N1.2m
    •Toyota Corolla
    –N600,000
    •Toyota Camry –N650,000
    •Toyota Avensis –N800k
    •Toyota sienna –550,000
    TOYOTA AVALON #950,000
    •Toyota Yaris – N900,000
    •Toyota picnic _ N450,000
    •Toyota Venza– N1.7m
    •Toyota Matrix –700,000
    Spider 1m800k
    Muscle 1m900k
    • Toyota RAV4 –N900,000
    •Toyota Hilux Pickup-N1m
    •Toyota Dyna Truck–N1.3million
    •Toyota 4 Runner–N1m
    tundra 2.670,000
    tacoma 2.5Million
    •Toyota Hiace Bus –N1.5m
    •Toyota Highlander-N1.2m
    •Toyota Big daddy-800k

    Honda Baby Boy= ₦780,000
    Honda Accord EOD= ₦950,000
    Honda City= ₦750,000
    Honda Crosstour= ₦2M
    Honda CR-V= ₦950,000
    Honda Odyssey= ₦850,000
    Honda Pilot= ₦1.m

    Lexus GX460=₦6.6M
    Lexus GX470=₦8.4M
    Lexus GX570=₦13.8M
    Lexus IS-250=₦2.1M
    Lexus ES-330=₦1.5M
    Lexus ES-350=₦2.6M
    Lexus RX300= ₦1.5M
    Lexus RX330= ₦2.8M
    Lexus RX350= ₦3.2M

    Acura RDX=₦3M
    Acura RSX=₦2.8M
    Acura TSX=₦2.6M
    Acura ZDX=₦3.2M
    Acura MDX= ₦2.4M

    Mercedes-Benz C-Class= ₦950,000
    Mercedes-Benz E-Class= ₦1.1M
    Mercedes-Benz GLK= ₦4.5m
    Mercedes-Benz ML320= ₦850,000
    Mercedes Benz ML330= ₦1.8M
    Mercedes-Benz ML350= ₦5.2M

    Nissan pathfinder= ₦1.9M
    Nissan Altima= ₦820,000
    Nissan Armanda= ₦3.2M
    Nissan Maxima= ₦600,000.e.t.c.

    VEHICLES ARE SLIGHTLY NEGOTIABLE〽WE COMMENCE DELIVERY WITHIN 36 STATE IN NIGERIA
    THANKS FOR PATRONIZING US.
    Bags of cement #5,500
    Delivery cost is #2,000〽.〽.〽.〽.〽〽〽〽.〽〽〽〽〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.

Recent Posts

Anambra Lacks Regulatory Framework For Crowd Control, Says Information Commissioner Law Mefor

Anambra lacks formal crowd control law but is working on a regulatory framework, says state…

5 hours ago

Akugbe Iyamu: We Must Be Prepared For Severe Droughts, Hunger in 2025

Retired Air Vice Marshal Akugbe Iyamu has called for urgent preparations for drought, heatwaves, and…

5 hours ago

Romania Set To Form New Government With Marcel Ciolacu As Prime Minister

Romania's president Klaus Iohannis is expected to designate Prime Minister Marcel Ciolacu to form a…

6 hours ago

Nigeria Announces Public Holidays for Christmas and New Year Celebrations

Federal Government of Nigeria has declared public holidays to mark Christmas and New Year festivities…

6 hours ago

IGP Orders Investigation into Death of Ilorin Detainee Jimoh Abdulquadri in Police Custody

IGP Egbetokun has ordered an investigation into Jimoh Abdulquadri’s death in police custody, promising justice…

9 hours ago

Trump Dismisses Claims That Elon Musk Holds Real Power Behind US President-Elect

Donald Trump has rejected suggestions that Elon Musk is the true influence behind the newly…

9 hours ago