Abuja, Nigeria — The European Union (EU) has restated its commitment to enhancing economic cooperation with Nigeria, describing the nation as a key partner in Africa.
During his maiden press briefing in Abuja, the EU’s new ambassador to Nigeria, Gautier Mignot, highlighted the deep economic ties between the two entities, noting that total trade between Nigeria and the EU reached €35 billion in 2023.
Ambassador Mignot emphasized that the EU remains Nigeria’s largest trade and investment partner, accounting for 28% of Nigeria’s total trade. He further revealed that the relationship yielded a €10.7 billion trade surplus in Nigeria’s favor and €26.4 billion in foreign direct investment stock.
“We are fully committed to supporting President Tinubu’s Renewed Hope Agenda, with a focus on fostering sustainable development, job creation, and economic growth,” Mignot stated.
The ambassador outlined critical areas of collaboration under the EU’s Global Gateway initiative, including green energy, digital transformation, agriculture, and industrialization. Major projects will focus on renewable energy, vaccine production, and improved waterway transportation in Lagos.
He also reaffirmed the EU’s commitment to addressing socio-economic challenges in northern Nigeria, fostering entrepreneurship, and promoting peace and security across the nation.
Ambassador Mignot described Nigeria as a “strategic partner” for the EU, emphasizing mutual interests in trade, governance, security, migration, and climate change. He assured continued collaboration to strengthen bilateral relations and encouraged the media to help combat misinformation while amplifying the success stories of the EU-Nigeria partnership.
The EU’s partnership with Nigeria extends beyond economic relations, with significant contributions to humanitarian aid and development. For example, in December 2024, the EU provided €1 million in emergency aid to assist Nigeria in tackling severe floods and a cholera outbreak.
As Africa’s largest economy and most populous nation, Nigeria remains pivotal to the EU’s engagement with sub-Saharan Africa, reflecting a shared vision of progress and mutual benefit.
By Enoch Odesola | January 27, 2025