FG, EU Collaborate To Strengthen 1.3bn Euro Trade Deals

The Federal Government and the European Union (EU) have initiated high-level talks aimed at enhancing economic cooperation between the EU and Nigeria.

A statement issued by the Finance Ministry on X noted that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun and the EU Ambassador to Nigeria, Gautier Mignot, engaged in the discussion at a meeting in Abuja, adding that Amb. Mignot underscored the EU’s position as Nigeria’s largest trading partner and a major source of foreign direct investment.

He proposed the creation of a formal trade and investment dialogue framework to unlock further opportunities through enhanced collaboration, particularly in infrastructure, green finance, and sustainable development.

The meeting spotlighted the EU’s 1.3 billion euro investment portfolio in Nigeria, recent engagement by the European Bank for Reconstruction and Development (EBRD), and the Global Gateway Investment Strategy aimed at deepening Africa-Europe economic ties.

The minister welcomed the initiative, reaffirming Nigeria’s commitment to macroeconomic stability, investor-friendly reforms, and digital transformation.

He emphasized ongoing reforms to improve the ease of doing business, projected a GDP growth of 4.6% by 2025, and rising trade surplus as key indicators of Nigeria’s economic progress.

The discussions also highlighted strategic projects such as the Trans-Saharan Gas Pipeline and the National Single Window trade system, further aligning with Nigeria’s fiscal consolidation and infrastructure modernization agenda.