Nigeria, EU Discuss Strengthening Economic Ties
By Patience Ikpeme
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, met with the European Union (EU) Ambassador to Nigeria, Mr. Gautier Mignot, in Abuja to discuss ways to strengthen economic relations between Nigeria and the EU.
The meeting focused on the EU’s €1.3 billion investment portfolio in Nigeria, recent engagement by the European Bank for Reconstruction and Development (EBRD), and the Global Gateway Investment Strategy, which aims to enhance economic ties between Africa and Europe.
Discussions also covered strategic projects such as the Trans-Saharan Gas Pipeline and the National Single Window trade system, which align with Nigeria’s fiscal consolidation and infrastructure modernization plans.
Ambassador Mignot noted the EU’s position as Nigeria’s largest trading partner and a major source of foreign direct investment.
He proposed the establishment of a formal trade and investment dialogue framework to explore further opportunities through increased collaboration, particularly in infrastructure, green finance, and sustainable development.
Minister Edun welcomed the proposal, stating Nigeria’s commitment to macroeconomic stability, investor-friendly reforms, and digital transformation. He pointed to ongoing reforms to improve the ease of doing business, a projected GDP growth of 4.6% by 2025, and a growing trade surplus as indicators of Nigeria’s economic progress.
Both parties expressed optimism about future cooperation and their commitment to building a strong, mutually beneficial economic partnership.
