By 
The European Union and the Federal Government of Nigeria have reaffirmed their commitment to strengthening economic cooperation as both parties seek to accelerate trade, attract more investment, and support long-term sustainable growth.
The renewed commitment was highlighted during the 10th Nigeria–EU Business Forum, where policymakers, investors, and development partners discussed strategies for expanding economic collaboration and unlocking new investment opportunities across key sectors.
According to a statement from the EU Delegation to Nigeria and ECOWAS, the forum underscored growing confidence in Nigeria’s reform agenda and the country’s potential as a strategic investment destination.
Strategic Partnership Gains Momentum
Speaking at the forum, Gautier Mignot, Ambassador of the European Union to Nigeria and ECOWAS, described the event as a major milestone following the elevation of Nigeria-EU relations to a strengthened Strategic Partnership during the March 2026 ministerial meeting.
According to Mignot, the business forum represents one of the first concrete outcomes of that renewed partnership.
He noted that the European Union currently accounts for approximately 31 percent of Nigeria’s foreign trade and remains the country’s largest source of foreign direct investment.
Mignot further explained that collaboration is expanding through the EU’s Global Gateway strategy, enhanced financing from the European Investment Bank, the commencement of activities by the European Bank for Reconstruction and Development in Nigeria, and deeper trade and investment dialogue between both parties.
The partnership is increasingly being viewed as a critical driver for infrastructure expansion, digital transformation, and industrial growth.
Economic Reforms Boost Investor Confidence
Delivering the keynote address on behalf of Vice President Kashim Shettima, Zahra Mustapha Audu, Director-General of the Presidential Enabling Business Environment Council (PEBEC), described the Nigeria-EU relationship as a strategic economic alliance with measurable economic impact.
She revealed that the partnership currently supports more than €35 billion in annual trade, roughly €26 billion in European foreign direct investment, and over 130,000 direct jobs across Nigeria.
According to Audu, the business forum has evolved beyond policy dialogue into a practical platform for translating strategic engagements into real investments, commercial partnerships, and economic outcomes.
She noted that the Federal Government’s ongoing reforms are improving macroeconomic stability and helping to strengthen investor confidence.
These reforms include measures aimed at improving fiscal management, enhancing regulatory clarity, and strengthening the ease of doing business—factors increasingly important for regulatory compliance, risk assessment, and long-term capital deployment.
Private Sector Collaboration Key to Growth
Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, said the forum reflects increasing confidence in the country’s economic reform programme.
She reiterated the government’s commitment to fostering a more competitive and investor-friendly business environment.
According to Oduwole, stronger engagement with the private sector remains essential to shaping effective policies capable of driving industrial growth and economic competitiveness.
The role of public-private collaboration continues to gain importance as Nigeria seeks to strengthen sectors requiring robust compliance management, digital infrastructure, and scalable investment frameworks.
Fiscal Reforms Supporting Sustainable Development
Also speaking at the forum, Doris Uzoka-Anite, Minister of State for Budget and Economic Planning, emphasized that economic transformation requires deliberate planning, fiscal discipline, and coordinated execution.
She noted that reforms in public financial management, taxation, and fiscal coordination are helping channel resources into priority sectors with strong growth potential.
These sectors include infrastructure, energy, healthcare, agriculture, manufacturing, and digital services.
Such reforms also strengthen institutional efficiency by improving regulatory reporting, enhancing internal controls, and supporting broader governance, risk, and compliance (GRC) objectives.
Uzoka-Anite added that new investment facilities announced during the forum align with the Federal Government’s broader strategy of deepening partnerships with development finance institutions and private investors.
Focus on Sustainable Investment and Digital Transformation
Held under the theme “Enhancing Sustainable Investment Together,” the 10th Nigeria–EU Business Forum brought together business leaders, financial institutions, policymakers, and investors from both regions.
Discussions focused on priority sectors including renewable energy, digital infrastructure, healthcare, agriculture, manufacturing, sustainable transportation, and cross-border trade.
The forum highlighted growing cooperation in areas increasingly shaped by RegTech solutions, digital innovation, and modern compliance infrastructure.
As Nigeria continues implementing economic reforms aimed at diversification and industrialisation, deeper collaboration with the European Union is expected to support infrastructure development, innovation, job creation, and sustainable economic growth.
The strengthened partnership also reinforces Nigeria’s ambitions to attract long-term foreign investment while building a more resilient and globally competitive economy.
Comments