The Philippines’ Ambassador to Nigeria, Mersole Mellejor, says bilateral trade between the two countries surged from 47 million dollars in 2023 to 221 million dollars in 2024, an increase of about 370 per cent.
Mellejor said this in an interview with the News Agency of Nigeria (NAN) on the sideline of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Youth Entrepreneur National Youth Summit 2025 in Abuja
NAN reports that the conference is with the theme “Fostering Youth Innovation and Green Skills for Growth and Global Stability.”
It brought together captains of industry, lawmakers, diplomats, youth leaders, and business stakeholders in a robust dialogue on sustainable development and enterprise-driven transformation.
Mellejor explained that the significant jump in trade volume was driven primarily by Nigeria’s exports.
The ambassador explained that Liquefied Natural Gas or methane, from Nigeria accounted for over 90 per cent of the Philippines’ imports from the country
The envoy noted that this export had helped in meeting the Philippines’ rising energy demand.
“It’s a Philippine import of liquefied petroleum gas from Nigeria. It’s a trade imbalance in favour of Nigeria, but for the Philippines, it’s something good for us because it contributes to our energy security.”
He noted that Philippine main source of petroleum and fuel products was the Middle East.
Mellejor, however, noted that the country had now found another source in Nigeria, which he said was very competitive.
“Now that we found another source in Nigeria, in terms of it’s very competitive, and also the region, Nigeria and the region in Africa, it’s very stable.
“So, if you look at it from the perspective of energy security, it’s a good situation, not just for Nigeria, but also for the Philippines,” he said.
The envoy also expressed his determination to deepen the diplomatic relations between his country and Nigeria, especially in terms of education and promotion of youth entrepreneurship.
“Let me start by saying that the two countries, the Republic of the Philippines and the Federal Republic of Nigeria, have very long-standing relations.
“We established a diplomatic ties way back in 1961. And you can imagine how strong and how cordial our relations would be.”
According to him, with regard to facets of our bilateral relations, there are two main important aspects. Number one would be people-to-people. Philippines citizens from the Philippines and Nigeria have been traveling to each other’s country for many years.
“Right now, we have a presence of around 4,000 Filipinos here, they occupy vital sectors of the economy.
“When it comes to trade, to the economic relations, particularly on trade and commerce, I’m very proud to say that over the last two years, there has been a very big improvement.
“This is because our trade volume was very small in 2023, right after the COVID pandemic, but it rebounded quite well and it grew very well way into the year 2020,” he said.
While commending President Bola Tinubu for initiating policies that are economic based, he expressed his support towards Nigeria’s goal of achieving one trillion dollars economy by 2030
“I want to commend the government of Nigeria, led by His Excellency President Bola Tinubu.
“His one trillion dollars economy plan is achievable and very realistic, considering the potential of Nigeria, as I’ve expressed earlier, in terms of the youthful population and in terms of resources.
“It’s just a matter of putting all together the elements, of course, in collaboration with partners, stakeholders.
“I am very convinced that the objective and the trust of getting into a one trillion economy in the near future are very realistic,” he said.
The envoy also commended NACCIMA for initiating the conference, which brought together all stakeholders to unlock the youth potentials in the development of the economy.
“I commend the NACIMA and the youth leaders of the youth sector, the youth leadership of the organisation for the conference.
“I think this is a very good initiative that recognises the important role of youth entrepreneurs when it comes to national economic development,” he said (NAN)
President NACCIMA, Dr Jami Ibrahim, earlier in his remarks also said that Nigeria’s ambition of building a one trillion dollar economy by 2030 was achievable.
Ibrahim urged government at all levels alongside stakeholders to work assiduously toward unlocking the potential of the youth to achieve the nation’s goal.
“Nigeria’s ambition of building a one trillion dollar economy by 2030 is bold, it’s also very achievable. But you only realize it if we unlock the future full potentials, the full potentials of our youths.
“The road to this economy lies in digital transformation. Digital transformation, innovation driven entrepreneurship and robust policy frameworks that enable young people to thrive. Young people must thrive,” he said.
