How Nigeria and the EU Are Redefining Trade and Investment

By Achimi muktar

In a bid to unlock new economic opportunities, the Federal Government of Nigeria and the European Union (EU) have initiated high-level talks to reinforce their trade and investment ties, particularly around the EU’s €1.3 billion investment portfolio in Nigeria.

At the heart of the discussions, held in Abuja, were Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the EU Ambassador to Nigeria, Gautier Mignot. Ambassador Mignot underscored the EU’s dominant role as Nigeria’s largest trading partner and a key source of foreign direct investment, proposing a structured trade and investment dialogue to deepen collaboration.

With an eye on infrastructure, green finance, and sustainable development, both parties explored ways to harness the Global Gateway Investment Strategy and the European Bank for Reconstruction and Development’s (EBRD) recent engagement in Nigeria. These initiatives aim to accelerate economic integration between Africa and Europe.

Minister Edun welcomed the EU’s initiative, reaffirming Nigeria’s commitment to macroeconomic stability and investor-friendly policies. He highlighted Nigeria’s ongoing economic reforms, which include improving the ease of doing business, a projected GDP growth of 4.6% by 2025, and an increasing trade surplus as proof of progress.

Strategic projects such as the Trans-Saharan Gas Pipeline and the National Single Window trade system were also in focus, aligning with Nigeria’s fiscal consolidation and infrastructure modernization efforts.

As both sides push for stronger economic ties, the proposed dialogue framework could serve as a game-changer in driving long-term foreign investment and sustainable development in Nigeria.