Follow Us on Google
From Fred Ezeh, Abuja
The European Union (EU) and Nigeria have reaffirmed their strengthened strategic partnership, with both sides pledging to expand investment, trade and private sector collaboration as economic cooperation between them continues to gather momentum.
This commitment was reaffirmed on Thursday at the 10th Nigeria–EU Business Forum in Lagos, where senior government officials, European institutions, development finance partners and business leaders met to explore new opportunities for sustainable economic growth.
The forum, held under the theme “Enhancing Sustainable Investment Together,” marked the first major business engagement since Nigeria and the EU elevated their relationship to a strengthened strategic partnership during the March 2026 EU–Nigeria ministerial meeting.
Speaking at the event, the Ambassador of the EU to Nigeria and ECOWAS, Gautier Mignot, described the forum as the first tangible outcome of the enhanced partnership. “Today’s Business Forum is the first concrete illustration of this common purpose,” he said.
He noted that the EU currently accounts for 31 per cent of Nigeria’s foreign trade and remains the country’s largest source of foreign direct investment.
He further noted that bilateral cooperation is being strengthened through the EU’s global gateway strategy, expanded European investment bank operations, the commencement of European Bank for Reconstruction and Development activities in Nigeria, enhanced Team Europe coordination and a structured Nigeria–EU trade and investment dialogue.
Delivering the keynote address on behalf of Vice President Kashim Shettima, the Director-General of the Presidential Enabling Business Environment Council (PEBEC), Princess Zahra Mustapha Audu, described the Nigeria–EU relationship as a strategic economic alliance that goes beyond diplomatic engagement.
She disclosed that the partnership supports more than €35 billion in annual trade, approximately €26 billion in European foreign direct investment and over 130,000 direct jobs across Nigeria.
According to her, the Nigeria–EU Business Forum has evolved into a platform that translates shared aspirations into investments, commercial partnerships, policy reforms and measurable development outcomes.
“The Nigerian–European Union Business Forum has evolved beyond a dialogue platform. It has become an important vehicle for translating shared aspirations into investments, commercial partnerships, policy reforms and development outcomes,” she said.
Other News
Princess Zahra added that Nigeria’s ongoing economic reforms are improving macroeconomic stability, boosting investor confidence and positioning the country as a preferred investment destination.
She stressed that the success of the partnership would ultimately be measured by the infrastructure built, industries developed and technologies deployed through joint efforts.
Also speaking, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the forum reflected growing confidence in Nigeria’s economic reform agenda and reaffirmed the Federal Government’s commitment to creating a more attractive investment climate.
“Our work here as government is simple: to listen, to partner, to further our collaborative interventions,” she said.
She noted that insights from the private sector would help shape policies aimed at improving Nigeria’s competitiveness and attracting greater investment.
Representing the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, the Minister of State for Budget and Economic Planning, Dr. Doris Uzoka-Anite, said Nigeria’s economic transformation is being driven by disciplined reforms and a coordinated strategy that mobilises both public and private investment.
“Economic transformation is not a matter left to chance. It can only be achieved as a matter of choice, discipline, deliberate strategy and coordinated implementation,” she said.
She explained that reforms in public financial management, taxation and fiscal coordination are ensuring that government resources are channelled towards priority sectors capable of creating jobs, attracting private capital and delivering critical infrastructure.
According to her, the investment facilities announced during the forum form part of the Federal Government’s broader strategy to accelerate sustainable economic growth through stronger partnerships with development finance institutions and the private sector.
Participants at the forum explored opportunities for collaboration across renewable energy, digital infrastructure, healthcare, agriculture, manufacturing, sustainable transport and trade, underscoring a shared determination by Nigeria and the European Union to translate their strengthened political ties into concrete economic benefits for businesses and citizens.
