Nigeria’s startup ecosystem draws Canada as both seek deeper business ties

Nigeria and Canada are seeking to deepen private-sector collaboration in technology, innovation and talent as both countries look to expand trade and investment beyond traditional sectors.

Delane Boakye, trade commissioner at the Deputy High Commission of Canada in Lagos, said Nigeria’s dynamic technology ecosystem and Canada’s expertise in technology, artificial intelligence, financial services, education, clean technology and innovation presented significant opportunities for partnerships between businesses in both countries.

Boakye spoke at a reception themed ‘Future of Work’ organised by the Canadian Deputy High Commission in Lagos in partnership with RollaPay and the African Impact Initiative, which brought together entrepreneurs, investors, technology leaders, innovators and policymakers.

She said the event demonstrated what could be achieved when Canadian and Nigerian talent, capital, ideas and businesses were connected, noting that many Nigerian founders who had studied in Canada had returned to establish businesses.

“Nigeria has one of the world’s most dynamic and entrepreneurial technology ecosystems, with a young, ambitious and increasingly globally connected workforce,” Boakye said.

“Canada, meanwhile, brings world-class expertise in technology, artificial intelligence, financial services, education, clean technology and innovation.”

She said the opportunity extended beyond the exchange of products and services to partnerships, investments, knowledge transfer and the movement of talent and ideas between the two countries.

According to her, the Canadian Trade Commissioner Service works with Canadian companies seeking to enter the Nigerian market by helping them identify business opportunities, find potential partners and navigate the local business environment.

It also assists Nigerian businesses and organisations seeking access to Canadian expertise, technology and investment opportunities.

Olatunbosun Alake, Lagos State commissioner for Innovation, Science and Technology, said partnerships with foreign governments and multilateral organisations were helping Nigerian startups gain international exposure while attracting capital into the state.

Alake described Lagos as having one of the deepest startup ecosystems on the continent, with companies operating across financial services, logistics and other sectors.

He said the state’s objective was not only to help startups solve local problems but also to position them to develop products and services for international markets.

“Exchanges with the Canadian High Commission, exchanges with the Dubai World Trade Centre is giving our startups a platform to showcase their goods and services and some of the things that their companies can do for customers across the globe,” he said.

Alake said such partnerships exposed Nigerian startups to international expertise while bringing foreign direct investment into the local economy.

The commissioner cited emerging Nigerian technology companies involved in designing microchips as an indication that local capabilities were gradually expanding beyond software and services into more advanced manufacturing and technology.

Kemi Bolatito, co-founder and CEO of RollaPay, said the growing links between Nigeria and Canada presented opportunities for Nigerian talent and businesses to participate more actively in the North American market.

Bolatito, who lived in Nigeria for more than 30 years before moving to Canada, said her experience of both countries had shown her the potential for Nigerian professionals and companies to operate globally while remaining connected to the African market.

She said the growing diaspora economy could become an important channel for expanding commercial relations between Nigeria and Canada.

“The Canada-Nigeria relationship is now opening up for Canada to be able to do business with Nigeria easily, and Nigeria is now opening up for Canada to be able to come here and do business with Nigeria,” she said.

Bolatito said Nigerian businesses should look beyond traditional exports and explore opportunities to supply talent, goods and services to Canada.

She also identified payment infrastructure as an important component of the emerging commercial relationship, saying her company is facilitating cross-border payments between Nigeria and Canada.

The discussions come amid efforts by both countries to strengthen their commercial relationship, with Canadian officials increasingly highlighting opportunities in technology, clean energy, agriculture, mining and the creative economy alongside established areas of trade.

Taofeek Oyedokun is a correspondent at BusinessDay with years of experience reporting on political economy, public policy, migration, environment/climate change, and social justice. A graduate of Political Science from the University of Lagos, he has also earned multiple professional certificates in journalism and media-related training. Known for his clear, data-driven reporting, Oyedokun covers a wide range of national and international socioeconomic issues, bringing depth, balance, and public-interest focus to his work.

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