Nigeria EU strategic economic partnership gains momentum as both sides reaffirm commitments to boost trade, investment and sustainable economic growth

The Federal Government and the European Union have reaffirmed their commitment to strengthening the Nigeria EU Strategic Economic Partnership, pledging to deepen trade, attract greater investment and accelerate sustainable economic growth through closer collaboration between the public and private sectors.

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The renewed commitment was announced on Friday in Abuja during the 10th Nigeria-EU Business Forum, where senior government officials, European representatives, investors and business leaders highlighted ongoing economic reforms and policy coordination as key drivers of Nigeria’s investment potential.

Held under the theme, “Enhancing Sustainable Investment Together,” the forum marked the first major business engagement since Nigeria and the European Union elevated their relationship to a strengthened Strategic Partnership during the EU-Nigeria Ministerial Meeting in March 2026.

Speaking at the event, the Ambassador of the European Union to Nigeria and ECOWAS, Gautier Mignot, described the forum as a significant milestone in implementing the renewed partnership.

“Today’s Business Forum is the first concrete illustration of this common purpose,” Mignot said.

He noted that the European Union accounts for 31 per cent of Nigeria’s foreign trade and remains the country’s largest source of foreign direct investment.

According to the ambassador, the partnership is gathering pace through the European Union’s Global Gateway strategy, expanded European Investment Bank operations, the commencement of European Bank for Reconstruction and Development activities in Nigeria, enhanced Team Europe coordination and a structured Nigeria-EU trade and investment dialogue.

Delivering the keynote address on behalf of Vice President Kashim Shettima, the Director-General of the Presidential Enabling Business Environment Council, Princess Zahra Mustapha Audu, described the relationship as far more than a diplomatic engagement.

“The Nigerian-European Union Business Forum has evolved beyond a dialogue platform. It has become an important vehicle for translating shared aspirations into investments, commercial partnerships, policy reforms and development outcomes,” Audu said.

She disclosed that the partnership currently supports more than €35 billion in annual bilateral trade, approximately €26 billion in European foreign direct investment and over 130,000 direct jobs across Nigeria.

Audu added that the forum had become a platform “where policy meets enterprise, where dialogue meets execution, and where opportunities are transformed into investments.”

She said the Federal Government’s ongoing economic reforms were strengthening macroeconomic stability, boosting investor confidence and positioning Nigeria as a preferred destination for long-term productive investment.

“The success of the Nigeria-EU partnership will be measured not only by the agreements we sign, but by the infrastructure we build, the industries we develop and the technologies we deploy,” she added.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the gathering reflected growing international confidence in Nigeria’s reform agenda and reaffirmed the government’s commitment to improving the country’s investment climate.

“Our work here as government is simple: to listen, to partner, to further our collaborative interventions,” Oduwole said.

She explained that recommendations from private sector stakeholders would help shape future policies aimed at improving competitiveness and attracting additional investment into priority sectors.

Also speaking, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, who represented the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said Nigeria’s economic transformation was being driven by deliberate reforms, fiscal discipline and coordinated implementation.

“Economic transformation is not a matter left to chance. It can only be achieved as a matter of choice, discipline, deliberate strategy and coordinated implementation,” Uzoka-Anite said.

She explained that reforms in taxation, public financial management and fiscal coordination were helping to channel public resources towards infrastructure development, job creation and sectors capable of attracting greater private investment.

Uzoka-Anite added that new investment facilities announced during the forum form part of the Federal Government’s broader strategy to strengthen collaboration with development finance institutions and private investors in pursuit of sustainable economic growth.

The forum brought together policymakers, financial institutions, development partners and business leaders from Nigeria and Europe to explore opportunities in renewable energy, digital infrastructure, healthcare, agriculture, manufacturing, sustainable transport and trade.

The European Union remains Nigeria’s largest trading partner and biggest source of foreign direct investment, with bilateral cooperation spanning infrastructure, energy, agriculture, digital innovation, governance reforms and industrial development.

The elevation of relations to a strengthened Strategic Partnership in March 2026 established a new framework for deeper cooperation in economic diversification, climate resilience, industrialisation and private sector development.

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Friday’s discussions reinforced both sides’ determination to translate policy commitments into tangible investments, modern infrastructure, stronger commercial ties and inclusive economic growth, while supporting the Federal Government’s wider economic reform agenda aimed at improving the ease of doing business, attracting long-term capital and creating sustainable employment opportunities.