Thomas Anthony, Chief Executive Officer of Grenada’s Investment Migration Agency (IMA), said the Caribbean nation expects its young people and technology entrepreneurs to benefit from increased interaction with Nigerian business owners, particularly given Nigeria’s more advanced technology sector.
Speaking to Nairametrics, Anthony expressed optimism that the new travel arrangement would encourage more Nigerian entrepreneurs to visit Grenada, share their expertise and establish partnerships with local businesses.
“Our young people can learn from those entrepreneurs that would necessarily come to Grenada as a result of this opportunity. So that there will be knowledge transfer,” he said.
He added that the arrangement could also help Grenadian businesses expand their reach by connecting them with Nigeria’s larger market, particularly in technology and other sectors with opportunities for cross-border collaboration.
“The market size will grow so that the Grenadians also in that same tech space, for example, will have a bigger market to which they can access,” Anthony said.
Grenada seeks wider market for local businesses
Anthony said Grenada’s relatively small population makes access to regional and international markets important for businesses seeking sustainable growth.
The country has a population of approximately 120,000, compared with about 700,000 people across the Organisation of Eastern Caribbean States (OECS) and more than 20 million within the Caribbean Community (CARICOM).
According to him, Grenadian entrepreneurs can take advantage of regional arrangements supporting the movement of people, goods and services to reach customers beyond the country's borders.
Grenada, popularly known as the Spice Isle, is located in the eastern Caribbean and comprises the main island of Grenada, alongside Carriacou and Petite Martinique. The country is known for producing nutmeg and other spices.
Beyond expanding business opportunities, Anthony said population growth was essential to strengthening Grenada’s long-term economic sustainability.
He noted that the country has about 120,000 residents spread across 133 square miles, while an estimated 350,000 Grenadians live abroad.
“We need to grow the population in the country to make the economy sustainable, viable,” he said.
Anthony suggested that attracting foreign entrepreneurs and investors could contribute to economic activity while creating opportunities for local businesses to develop new capabilities and access larger markets.
Visa-free access expected to ease business travel
The IMA chief executive said the new arrangement would remove some of the travel difficulties Nigerian entrepreneurs face when visiting the Caribbean, particularly the need to transit through countries such as the United States or the United Kingdom, where Nigerians may require transit visas.
“Getting to Grenada or to the Caribbean will now no longer mean having to go through the US or the UK where you would have to have a visa, and we know the challenges with Nigerians getting visas to some of these places,” he said.
Anthony also pointed to a twice-monthly direct flight to Antigua and Barbuda as another travel option for Nigerians seeking to reach the Caribbean.
The arrangement is expected to encourage business visits, investment assessments and exchanges between entrepreneurs from Nigeria and Grenada, potentially creating new opportunities in technology, tourism, agriculture and other commercial sectors.
However, Anthony said he hoped Nigeria would introduce a reciprocal arrangement allowing Grenadian citizens to enter Nigeria without visas.
“My hope is that there will be reciprocity. Visa-free access for Grenadians into Nigeria, and that will allow them to learn and grow and bring new ideas back to Grenada,” he said.
“Both nations can benefit from having this reciprocal visa-free access.”
IMA targets investment opportunities
Anthony explained that Grenada’s Investment Migration Agency works on behalf of the government to process citizenship applications from foreign nationals who invest in the country under its investment migration programme.
He said the agency encourages prospective applicants to visit Grenada, assess the available investment opportunities and identify suitable projects before deciding which investment route to pursue as the basis for a citizenship application.
According to him, easier travel would allow Nigerian investors to gain firsthand knowledge of Grenada’s business environment, evaluate potential projects and engage directly with local stakeholders.
Removing transit-related visa barriers could therefore make the country more accessible to Nigerian entrepreneurs and investors considering opportunities under the programme.
Nigeria-Grenada relations gather momentum
Grenada’s visa-free initiative was announced in June by the country’s Honorary Consul in Nigeria, Bidemi Sonoiki, as part of efforts to strengthen economic and commercial relations between both countries.
The initiative is designed to facilitate business travel, encourage investment exploration and promote educational and commercial exchanges.
Bilateral engagement has also expanded since Grenada established its Honorary Consulate in Lagos in 2022. The development has supported closer government relations, private-sector collaboration and the establishment of the Nigeria-Grenada Chamber of Commerce.
Both countries are exploring business opportunities across several sectors, including tourism, healthcare, agriculture, agro-processing, logistics, education, financial technology, renewable energy and real estate.
With Grenada seeking to attract investment and expand its economic base, the visa-free arrangement could provide a platform for stronger commercial ties, technology exchange and greater access to markets for entrepreneurs in both countries.