In a recent announcement, Samuela Isopi, the Head of the European Union (EU) and ECOWAS delegation, revealed that the bilateral trade relationship between Nigeria and the EU has now reached an impressive cumulative value of over €45 billion. This declaration was made during a courtesy visit to Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, in Abuja.Thank you for reading this post, don't forget to subscribe!
Isopi highlighted the substantial growth in trade between the two entities over the years, with the latest figures indicating a trade volume of €45 billion, favoring Nigeria. He emphasized the positive trajectory of this trade relationship.
Given the priority placed on investment by the Bola Tinubu administration, Ambassador Isopi disclosed that the EU is actively assessing the presence of European companies in Nigeria, recognizing the vast opportunities that the country offers. The EU aims to collaborate closely with the federal government to harness this potential and make it a priority in their dialogue.
In response, Minister Abubakar Atiku Bagudu expressed his satisfaction with the growing trade ties between Nigeria and the EU, accompanied by support and cooperation in various sectors. He underlined the alignment of these developments with the president’s efforts to strengthen relationships, attract investors, and seek support from valuable partners, particularly those who can contribute to enhancing Nigeria’s global engagement.
Minister Bagudu conveyed the government’s deep appreciation for the warm relationship with the EU, emphasizing the intention to further expand opportunities for partnerships, enhance the existing private sector collaborations, and strengthen social and cultural ties. He also acknowledged the EU’s support in areas related to governance and the rule of law.