EU Commits to Boost Investments and Trade in Nigeria

The European Union has reaffirmed its commitment to expanding investments in Nigeria and strengthening regional trade, as stated during the 10th Nigeria-European Union Business Forum held in Lagos. Kaja Kallas, Vice President of the European Commission for Foreign Affairs and Security Policy, emphasized Nigeria's status as a key import partner in Africa and a preferred destination for European investors.

The forum, organized following a recent visit to Nigeria, aimed to deepen commercial ties and unlock new investment opportunities. Kolawole Sofola, Director of Trade at ECOWAS, highlighted the potential for business expansion beyond Nigeria, facilitated by the African Continental Free Trade Area and regional trade liberalization schemes.

The forum also focused on improving infrastructure, policy certainty, and cross-border trade to enhance economic integration. The European Union remains Nigeria's largest trade partner and a major source of investment and technical support for infrastructure and digital transformation initiatives.