The European Union Council allocates over €3 billion in investment annually into the Nigerian economy and provides 160,000 jobs- reinforcing its commitment to a robust partnership with the Nigerian government.
This was disclosed by Samuela Isopi, the Ambassador of the European Union to Nigeria and the Economic Community of West African States (ECOWAS), during her keynote address at the EuroCham Nigeria Stakeholders annual conference held in Lagos on Wednesday, January 31, 2024. The conference, themed “Sustainable Business Growth,” served as a platform for discussing pivotal economic engagements between the EU and Nigeria.
Ambassador Isopi accentuated the deepened collaboration between the EU and Nigeria, particularly under the administration of President Bola Ahmed Tinubu. In her speech, she outlined the outcomes of a groundbreaking survey conducted in partnership with EuroCham.
- The survey aimed to assess the impact and presence of European businesses in Nigeria, reaching out to over 300 companies operating in the country. Isopi highlighted the tangible contributions of the European business sector to Nigeria’s economic landscape.
What she said
Isopi provided insightful figures, stating,
- “The creation of over 160,000 decent jobs, both directly and indirectly. Yearly direct investment of over €3 billion, training and skill development of 18,000 Nigerian staff every year. And, in a testament to Nigeria’s economic potential, four out of 10 European companies established their presence here in the last decade.
What you should know
These statistics emphasized the substantial role played by European enterprises in shaping Nigeria’s economic emergence.
The Ambassador lauded the resilience and capacity of European businesses to operate in Nigeria, emphasizing their role in showcasing economic potential. She affirmed the close collaboration with EuroCham, affirming the EU’s commitment to fostering sustainable business growth in Nigeria.
Isopi further discussed key developments in Nigeria, focusing on the proactive measures taken by President Tinubu to revitalize the country’s economy and create a more investor-friendly environment.
The European Union lauded these initiatives and, since the inception of the new administration, has engaged in an unprecedented series of senior official visits, culminating in October 2023.
