By Sunday Oyinloye
On April 9, 2025, Nigeria’s Ministry of Foreign Affairs played host to the Belgian Ambassador to Nigeria, Pieter Leenknegt and two other important figures from Belgium, Dr. Collins Nweke, Senior Consultant to the Nigeria Belgium Luxembourg Business Forum (NBLBF) and Mr. Thomas De Buele, Commercial Director CBL-ACP at a Business Networking Lunch-Hour Meeting
The Business Meeting which was put together by JD Global Light Consult Ltd in collaboration with the U.S.-Africa Trade Commission and U.S.-Nigeria Business Council aims at fostering transnational cooperation
Expectedly, it brought together representatives of the diplomatic corps, captains of industries, government officials and business leaders.
The Business Networking Lunch-Hour Meeting with the theme: “Doing Business with Belgium & Luxembourg – The Hot Sectors and Trends” was organized ahead of the 3rd Nigeria Belgium Luxembourg Business Forum coming up in October this year.
In his address, the Director, Economy, Trade & Investment, Ministry of Foreign Affairs, Ambassador Akinremi Alade Bolaji says “Our goal is to spotlight emerging opportunities, encourage cross-border investments, and facilitate sustainable partnerships between Nigerian businesses and counterparts in Belgium and Luxembourg.”
According to him, Belgium and Luxembourg, though relatively small in size, are economic giants in Europe, renowned for their openness to innovation, financial sophistication, and commitment to international cooperation.
His words: “They are also gateways to the larger EU market, making them strategic hubs for trade, logistics, finance, fintech, renewable energy, agribusiness, pharmaceuticals and high-tech manufacturing.”
The diplomat disclosed further that Belgium is already a top trading partner in the EU, and Luxembourg, with its robust financial and tech ecosystem offering a vast potential for collaboration, particularly for start-ups and digital entrepreneurs.
Ambassador Bolaji highlighted a few hot sectors where he believes Nigerian businesses can find real opportunities. These sectors are Green Technology and Renewable Energy, Fintech and Digital Solutions, Pharmaceuticals and Healthcare, Logistics and Maritime Services, Agri-Tech and Sustainable Agriculture.
Also speaking at the Business Networking Lunch-Hour Meeting, Belgian Ambassador to Nigeria, Pieter Leenknegt disclosed that in the past, Belgium imports to Nigeria have always been larger than Nigeria imports to Belgium.
“It was quite remarkable that in 2024, for the first time there was a trade surplus. Cocoa has now become the main and first export from Nigeria to Belgium. It is no longer crude oil. This is coming at a time when there is a global energy transition” he said
The Ambassador pointed that cocoa was a big mainstay in the Nigerian economy at the time of independence bur later lost that status to fossil fuels.
The keynote speaker Dr. Collins Nweke gave a summary of the hot sectors and trends which reflect the evolving trade dynamics and commitments of Belgium and Luxembourg to fostering economic partnerships with African nations.
He said that being hot and trending doesn’t necessarily mean being profitable and feasible adding that deep analysis of sectors believed to be hot and trending in Belgium and Luxembourg equally means its ability to measure up to profitability and feasibility.
Nweke revealed that among the five hot sectors focused on, the Creative Sector has a greater advantage stemming from the outcome of a research conducted by the House of Economics in Ostend Belgium stressing “there’s a huge market for the creative sector in Belgium and a renewed effort to bring in Nigerian creative sector into the country “
A major sector that Nigeria should key into according to Nweke is the health sector.
He explains that healthcare innovations, investing in health infrastructure and biotechnology by exploring collaboration opportunities in pharmaceuticals, particularly in developing new healthcare technologies and building health infrastructures cannot be overemphasized.
“Partnerships in building a competitive global supply chain and Infrastructure Development by connecting markets through smart investments in transport, maritime, energy and logistics can enhance connectivity between Nigeria and the BELUX region, thereby promoting smoother trade flows and economic growth” he said.
The second speaker who is the Commercial Director CBL-ACP Chamber of Commerce Belgium, Thomas De Beule assures of the readiness of his organization to work with participants at the upcoming Business Forum to tailor their business needs for B2B arrangements as most of the companies in Belgium are members of the chamber.
“Looking at what Belgium & Luxembourg brings to the table, we are focused on technology, from the environmental perspective, any business we’re doing is of high quality and environmental impact and good example of the country we’re doing business in. We have a lot of Belgium companies in Nigeria and our business forum is to highlight those good examples” said Beule
Earlier in her welcome address, the CEO of JD Global Light Consult Ltd Ms. Taiwo Adekanye reiterated the need for Nigerian businesses to take advantage of the open window provided by the Belgium Luxembourg Business Forum through the CBL-ACP Chamber of Commerce to organize the 3rd Business Forum where the hot sectors and trends have been tailored for the Nigerian business needs.
