Singapore has officially brought into force bilateral investment treaties (BITs) with Nigeria and Côte d’Ivoire, strengthening legal protections for cross-border investors and opening new opportunities for economic cooperation with West Africa.
The announcement was made by Singapore’s Minister-in-charge of Trade Relations, Grace Fu, during the 8th Africa Singapore Business Forum. According to the Ministry of Trade and Industry, the treaties are designed to provide certainty and security for investors by setting clear rules on fair treatment, capital transfers, and dispute resolution.
The Nigeria-Singapore BIT was signed in 2016 and came into effect on 22 August 2025 after both countries completed their domestic ratification processes. Nigeria remains one of Singapore’s top ten trading partners and investment destinations in Africa. In 2024, bilateral goods trade reached 923.8 million dollars, while Singapore’s direct investment stock in Nigeria stood at 3.9 billion dollars at the end of 2023.Similarly, the Côte d’Ivoire-Singapore BIT, first signed in 2014, entered into force on 26 August 2025. Côte d’Ivoire, a key agricultural exporter and emerging West African hub, has seen growing trade ties with Singapore. Bilateral goods trade totaled 185.8 million dollars in 2024, while Singapore’s investment in the country reached 730 million Singapore dollars by the end of 2023.
Under the agreements, Singaporean investors in both Nigeria and Côte d’Ivoire will benefit from national treatment, protection against expropriation, free capital transfers, and the option of resolving disputes through international arbitration. Officials noted that these provisions will help foster stronger business confidence and deepen economic ties between Singapore and West Africa.