The European Union has signalled its interest in forging a more structured economic relationship with Nigeria, aiming to expand trade and investment between the bloc and Africa’s most populous nation.
Speaking on Wednesday, the head of the EU delegation to Nigeria, Gautier Mignot [Go-ti-yay Mee-nior], said the union was keen to tap into Nigeria’s vast economic potential. However, he noted that no formal agreement or framework currently governs trade and investment between the two sides.Â
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Mr Mignot emphasised that the EU seeks to establish dialogue to address barriers hindering greater economic cooperation. He also highlighted the bloc’s Global Gateway Investment Agenda, which aims to create jobs and economic opportunities, particularly for young Nigerians.
The EU remains Nigeria’s largest trading and investment partner, accounting for 28% of the country’s total trade in 2023.
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