The European Union (EU) and Nigeria have long enjoyed a strong and strategic partnership, built on shared values of human rights, democracy, rule of law, and multilateralism. As Nigeria continues to consolidate its role as an anchor of stability in Africa, the EU is committed to supporting the country’s progress towards a peaceful, prosperous, and sustainable future.

A Strong Trade and Investment Partnership

The EU is Nigeria’s first trade and investment partner, with a robust trade relationship that benefits both parties. The EUROCHAM annual stakeholders’ conference, held in Lagos, brings together key stakeholders to discuss ways to strengthen economic ties and promote investment. Team Europe, the EU’s bilateral partner in development cooperation and humanitarian assistance, has launched a campaign to highlight the achievements of the Global Gateway strategy.

New Initiatives and Projects

The EU is committed to exploring new initiatives and projects that can help unlock Nigeria’s vast potential. Some of the key areas of focus include:

  • Structuring Economic Relations: Establishing a framework for economic dialogue to address issues that hinder investment and trade.
  • Job Creation and Opportunities: Fostering job creation and opportunities for young people in Nigeria, particularly in sectors like green economy, digital, agri-food, and health.
  • Science, Technology, and Investment: Promoting projects and opportunities in higher education and research through a science, technology, and investment agreement.
  • Peace and Security: Strengthening engagement in peace and security, responding to Nigeria’s needs and expectations.
  • Migration Partnership: Establishing a comprehensive migration partnership that covers all aspects, including smuggling and trafficking of human beings, readmission and reintegration of migrants, and legal pathways.

A Partnership for the Future

The EU is committed to partnering closely with Nigerian authorities, civil society, and young people to ensure the partnership is tailored to the country’s needs and expectations. Through this partnership, the EU aims to support Nigeria’s progress toward a brighter future, built on democracy, human rights, and the rule of law.

As the new European Union (EU) Ambassador to Nigeria and ECOWAS H.E Gautier Mignot resumes office, he reaffirmed EU’s commitment to strengthen and deepen economic relations and cooperation on Trade, Investment, Governance, and Security with Nigeria.  Speaking at the media briefing in Abuja, Ambassador Mignot outlined his mission in Nigeria and key priority areas of the EU cooperation with Nigeria.

Mission 1: Giving Visibility to EU’s Existing Efforts

Ambassador Mignot aims to shine a light on the EU’s ongoing projects and initiatives in Nigeria, showcasing the impact of their collaboration. This includes highlighting the EU’s support in various sectors, such as power, where they plan to invest in Nigeria’s power sector.

Mission 2: Unlocking New Opportunities

The Ambassador’s second mission is to explore new initiatives and projects that can further strengthen the EU-Nigeria partnership. This involves identifying untapped potential and exploiting opportunities that can drive growth, development, and cooperation between the two entities.

“On all issues, we want to partner more closely with the NG authorities, at Federal and local levels, listen to their expectations, strategies, and needs, but also listen to Civil society and the young (Youth Sounding Board).

“Better structure our economic relations and dialogue to address and remove the issues that hamper more investment and trade: currently no agreement or dialogue framework

“Through the Global Gateway investment agenda, focus more on creating jobs and opportunities, especially for young people in NG, building on NG’s great sense of entrepreneurship, sectors like green economy, digital, agri-food, and health: this is already an ongoing work. Special attention to the North of the country where there are specific needs but also a great sense of entrepreneurship, as I witnessed during my recent trip to the Northeast, and we have a package of ongoing and new projects there.

“Science, technology and investment agreement to foster projects and opportunities in higher education and research

“Further strengthen our engagement in peace and security, responding better to NG needs and expectations

“Migration partnership covering all aspects: smuggling and trafficking of human beings, readmission and reintegration of migrants not admitted to remain in the EU or stranded in the way, legal pathways responding to both parties’ interests

“Closer consultation on global and regional issues (the JUHEU is already the main supporter of ECOWAS)

Ambassador Gautier Mignot highlighted the European Union’s position as Nigeria’s largest trading and investment partner, emphasizing the significant economic ties between the two entities. The EU’s trade with Nigeria totaled €35 billion in 2023, accounting for approximately 28% of Nigeria’s total trade. This robust trade relationship underscores the EU’s commitment to supporting Nigeria’s economic growth and development.

As Nigeria’s leading trade partner, the EU plays a vital role in promoting economic cooperation, job creation, and sustainable development. The EU’s investment in Nigeria has reached €26 billion, with over 200 EU companies operating in the country, creating more than 130,000 jobs .

The EU’s strong trade and investment presence in Nigeria is a testament to the enduring partnership between the two entities. As Ambassador Mignot noted, the EU is committed to further strengthening its economic ties with Nigeria, promoting sustainable development, and supporting the country’s integration into the global economy

“The EU is by far Nigeria’s largest trading and investment partner. EU was Nigeria’s top trading partner in 2023, with 28% of its total trade. Total trade in goods amounts to EUR 35 billion (2023), with an average annual growth rate of 1.5% of EU imports and 0.9% of EU exports (2019-2023). Nigeria benefits from a EUR 10,7 billion trade surplus with the EU.

“When it comes to investment, a key priority of President Tinubu’s Renewed Hope Agenda, Nigeria also has its strongest partner in the EU, as our foreign direct investment stock accounts for about 1/3 of Nigerian FDI, totaling EUR 26.4 billion (2022).

“There are hundreds of EU companies present in Nigeria. EU companies have strict compliance policies on anti-corruption, environment, labor and more generally all local legislation. They are key providers of jobs and equally importantly managerial, technological and vocational

FOSTERING DEVELOPMENT AND INVESTMENT THROUGH THE GLOBAL GATEWAY

Ambassador Gautier Mignot reaffirmed the European Union’s commitment to fostering development and investment in Nigeria through the Global Gateway initiative. This strategy aims to promote economic growth, job creation, and sustainable development in Nigeria, focusing on sectors such as the green economy, digital, agri-food, and health.

The EU’s commitment to Nigeria’s development is evident in their robust trade relationship, valued at €35 billion in 2023, making Nigeria the EU’s largest trading partner in Africa. The EU seeks to strengthen this partnership through the Global Gateway, promote entrepreneurship, and create opportunities for young Nigerians.

Ambassador Mignot emphasized the EU’s support for Nigeria’s sustainable development, highlighting the importance of addressing challenges in northern Nigeria, fostering entrepreneurship, and improving peace and security. The EU’s commitment to Nigeria’s development is a testament to the strong partnership between the two entities.

“The EU, Member States, 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 to connect people and accelerate green, digital, and inclusive transition in partner countries like Nigeria. This means leveraging and accelerating investment and increasingly working 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 recognizes the importance of accelerating Nigeria’s industrialization and maximizing 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.

 

A STRONG EU HUMANITARIAN RESPONSE

Reiterating the European Union’s dedication to humanitarian efforts, Ambassador Gautier Mignot reaffirmed the EU’s commitment to providing assistance to Nigeria. This pledge underscores the EU’s ongoing support for Nigeria’s development and humanitarian needs, building on their existing partnership. The EU has been actively engaged in various initiatives, including humanitarian aid, development cooperation, and trade relations, to promote peace, stability, and prosperity in Nigeria.

“The EU recognizes 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 as natural-induced disasters. 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.

 

In 2008, the EU and Nigeria agreed on a broader political framework known as the EU-Nigeria Joint Way Forward, in order to deepen their relationship. The agreement establishes the principles, guidelines, and priority areas for enhanced political dialogue and cooperation, in the wider context of the EU’s relations with the African, Caribbean, and Pacific (ACP) countries.

Areas of mutual interest and concern for intensified dialogue include peace and security, migration, good governance and democracy, human rights, trade, and regional integration, among others. Also included are justice sector reform, support for free and fair elections, and regional cooperation.

A Ministerial-level dialogue takes place once a year with other meetings at the Senior Officials’ Level happening more frequently. Ad hoc meetings on matters of common interest, including regional, continental, and global issues, can take place when agreed between the two parties.

The EU’s new Ambassador to Nigeria, Gautier Mignot brings 26 years of diplomatic experience, including his previous posting as EU Ambassador to Mexico. His expertise will undoubtedly play a crucial role in shaping the EU-Nigeria partnership and unlocking new avenues for cooperation.

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