The European Union has reaffirmed its commitment to strengthening economic ties with Nigeria, as it declared Nigeria as its top trade and investment partner in Africa.
The Head of the European Union Delegation to Nigeria and Economic Community of West African States, Ambassador Gautier Mignot, while disclosing this on Monday in Abuja during a media luncheon noted that Nigeria remains EU’s largest trading partner in Africa, accounting for 28% of its total trade, with a €10.7 billion trade surplus in Nigeria’s favour and €26.4 billion in foreign direct investment stock.
While speaking further, Mignot told journalists that his mission will focus on addressing challenges in northern Nigeria, fostering entrepreneurship, and improving peace and security.
“Bring the EU-Nigeria partnership to a higher level, with one goal: positively impact the Nigerian population.
“As I told the President, in uncertain times and a fast-evolving, you need constant and faithful partner on whom you know you can count: the EU is one for NG.
“In turn, we see NG as a key partner and a major player in Africa and the world. New leaders very much interested in NG: hope to have high-level visits and meetings soon to announce and to impulse our relationship.
“My mission, or rather our mission because it is a teamwork work is to inform, propose and implement the decisions made by our leaders to strengthen our partnership”.
Mignot also called on journalists to collaborate with the EU to combat misinformation and enhance public awareness of their shared achievements.
On fostering development and investment through the global gateway of the EU, Member States, the Envoy explained that the European Investment Bank and soon the European Bank for Reconstruction and Development come together as “Team Europe” and are Nigeria’s main development partner.
“The “Global Gateway” is the EU’s new investment strategy aiming at connecting people and accelerating green, digital, and inclusive transition in partner countries like Nigeria.
“This means leveraging and accelerating investment and increasingly work in coordination with EU companies, to bring concrete benefits to Nigerians.
“The flagship projects under the Global Gateway include inter alia Omi Eko (Lagos waterway transport), development of the renewable energy sector (solar, small hydropower), production of vaccines (MAV+), Erasmus+ and Horizon programs.
“The EU recognises the importance of accelerating Nigeria’s industrialisation and maximising the opportunities for local added-value and job creation.
“With the Global Gateway Investment Strategy, the EU works in sectors crucial for the transformation and diversification of the Nigerian economy such as energy, digital economy, agriculture, and food security.
“The EU also invests in human development: health, education, and social protection, as well as in good governance, migration issues and fundamental rights.
“The EU is increasingly developing projects in the North of the country as a whole to respond to the specific development needs of this part of Nigeria. The EU cooperation budget for 2021-2027 amounts to EUR 731 million in grants and is complemented by other instruments.
“The European Investment Bank is active in Nigeria with several loans ranging from digital to agriculture, transport and youth and women employment priorities, with an active pipeline of up to EUR 1.3 billion of ongoing operations.”
“The European Bank for Reconstruction and Development will soon also extend its operations to West Africa, bringing more financing opportunities, in particular for the private sector.”
On humanitarian response, Mignot said, the EU recognises the importance of solidarity and remains committed to partnering with the government of Nigeria in assisting the people affected by conflict and violence as well natural induced disaster.
“Together with its Member States, it is one of the main humanitarian donors in Nigeria. This assistance saves countless lives every day.
“The current EU humanitarian response is provided in the sectors of protection, food security, nutrition, shelter, water and sanitation, education in emergencies, and disaster preparedness.
“It amounts to EUR 102 million for EU27, almost half of it from the EU. The EU pays particular attention to the humanitarian-development-peace nexus to provide durable solutions to populations,” he added.
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