From Aidoghie Paulinus, Abuja
The Head of the European Union (EU) Delegation to Nigeria and the Economic Community of West African States, Samuela Isopi, has stated that the EU is playing an active role in Nigeria’s energy sector, particularly in renewable energy.
Speaking at a cocktail reception during the 9th Nigeria-EU Business Forum in Abuja, Isopi emphasised that renewable energy is the way forward. She highlighted the EU’s role as a major partner and donor in Nigeria’s energy sector, supporting both renewable energy projects and critical infrastructure.
“Europe is a leader in this sector, and Nigeria has huge potential. While Nigeria has oil and gas, it also has abundant sun and wind. For us, that is the future, and we know that Nigeria shares this vision,” Isopi stated.
She noted that in 2023, trade between the EU and Nigeria reached 35 billion euros, following a record 45 billion euros in 2022. While acknowledging that oil and gas still dominate trade – with the balance favouring Nigeria – Isopi stressed the need for diversification.
Isopi outlined the EU’s proposals to boost trade relations with Nigeria, including a recent mapping of EU companies operating in the country. This revealed at least 250 EU companies in Nigeria, with 20% investing in manufacturing, demonstrating a commitment beyond the oil and gas sector.
Myriam Ferran, Deputy Director-General for International Partnerships, highlighted the positive feedback from previous Nigeria-EU Business Forums. She explained that each year, the forum focuses on specific themes to enhance business relationships between EU and Nigerian companies.
“This year, we will focus on climate-resilient agriculture, pharmaceutical and vaccine manufacturing, and digitalisation,” Ferran announced. “Our objective is to reach out to as many companies as possible.”
Atiku Bagudu, Minister of Budget and Economic Planning, welcomed the forum, stating that it comes at a time of evolving relations between Nigeria and the EU. He highlighted the recent signing of the Samoa Agreement as a positive step and emphasised the importance of sensitising the Nigerian public and private sectors to EU partnerships and the Global Gateway initiative.
