FG, EU deepen economic partnership to drive investment, growth

Nigeria and the European Union are strengthening their economic ties to attract greater investment, expand trade, and accelerate sustainable economic growth. This commitment was reaffirmed at the 10th Nigeria-EU Business Forum in Abuja, where officials emphasized the role of ongoing economic reforms and enhanced policy coordination in positioning Nigeria for increased investment and long-term private sector-led growth.

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Today’s Business Forum is the first concrete illustration of this common purpose.

Ambassador Gautier Mignot of the European Union to Nigeria and ECOWAS noted that the forum marked a significant milestone since the relationship was elevated to a "strengthened Strategic Partnership" in March 2026. He highlighted the EU's substantial economic role, accounting for 31 percent of Nigeria's foreign trade and serving as the largest source of foreign direct investment. The partnership is gaining momentum through initiatives like the EU's Global Gateway strategy and expanded operations of the European Investment Bank and the European Bank for Reconstruction and Development.

Princess Zahra Mustapha Audu, Director-General of the Presidential Enabling Business Environment Council, delivered a keynote address on behalf of Vice President Kashim Shettima. She described the Nigeria-EU relationship as a "strategic economic alliance" that supports over €35 billion in annual trade, approximately €26 billion in European foreign direct investment, and more than 130,000 direct jobs in Nigeria. Audu stated that the business forum has become a crucial vehicle for translating shared aspirations into tangible outcomes.

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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.

Audu emphasized that the Federal Government's economic reforms are enhancing macroeconomic stability and investor confidence, making Nigeria a preferred destination for investment. The success of the partnership, she added, will be measured by the infrastructure built, industries developed, and technologies deployed, not just by signed agreements.

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The success of the Nigeria-EU partnership will be measured not only by the agreements we sign, but by the infrastructure we build, the industries we develop and the technologies we deploy.