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Nigeria-EU bilateral trade hits €45 billion 




In a recent statement, Samuela Isopi, Head of the European Union (EU) and ECOWAS delegation announced that the bilateral trade relationship between Nigeria and the EU now has a cumulative trade value exceeding €45 billion.

Ambassador Isopi shared this information during a courtesy visit to Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning in Abuja. 

  • Isopi emphasized, “Trade has been growing over the years and by the latest figure that we have, it’s about forty-five billion euros (€45 billion) with the balance in favour of Nigeria and the balance is growing.” 

EU to work in partnership with FG 

  • Since investment is a priority of the Bola Tinubu administration, Ambassador Isopi disclosed that the EU is currently “mapping out the presence of European companies here, We know that there’s much that can be done and we know that Nigeria is a land of opportunities”. 
  • The EU she added will work together with the federal government on “how we can tap that potential, these are some of the things that will come in priorities in the dialogue between our respective institutions”. 

Minister appreciates growing Nigeria-EU relationship 

Responding, the Minister for Budget and National Planning Senator Abubakar Atiku Bagudu expressed delight that trade between Nigeria and the EU was growing along with support and corporations in different areas. 

  • “This is consistent with the drive by our president to boast relationship, to mobilize investors, to seek support from partners, not just a development partner but a partner who can help us improve our processes and ways of engaging with the world”. 
  • Bagudu noted that the federal government appreciates “the cordial relationship we have with the EU a lot, and we want to demonstrate that by providing opportunities for more partners, private sector relationships which are already on the ground, social and cultural relationships will also be boasted” he said. 

He said the federal government acknowledges the support of the EU “in areas of governance and improvement of the rule of law. 

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