Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has engaged in discussions with the European Union (EU) Ambassador to Nigeria, Mr. Gautier Mignot, in Abuja on a strategic €1.3 billion investment portfolio package in Nigeria on Wednesday.
This was contained in a post on X (formerly Twitter) by the Federal Ministry of Finance on Thursday.
According to the post, Ambassador Mignot highlighted the EU’s position as Nigeria’s largest trading partner and a top source of foreign direct investment (FDI), proposing the establishment of a structured trade and investment dialogue framework to enhance collaboration in critical sectors such as infrastructure, green finance, and sustainable development.
Key Investment Commitments and Strategic Projects
The meeting spotlighted the EU’s active €1.3 billion investment portfolio in Nigeria, alongside recent engagements by the European Bank for Reconstruction and Development (EBRD) and the EU’s Global Gateway Investment Strategy designed to boost infrastructure and sustainable development across Africa.
The post read, in part, “The meeting spotlighted 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 aimed at deepening Africa-Europe economic ties.”
Ambassador Mignot emphasized the EU’s interest in supporting Nigeria’s economic transformation, citing ongoing reforms and the country’s growing trade surplus as positive indicators. He noted that enhanced cooperation could further accelerate Nigeria’s infrastructure modernization, digital economy, and energy transition goals.
Nigeria’s Reforms and Growth Projections
In his response, Minister Edun welcomed the EU’s proposal, reaffirming Nigeria’s commitment to macroeconomic stability, investor-friendly policies, and fiscal consolidation. He highlighted key reforms aimed at improving the ease of doing business, including the National Single Window trade facilitation system, tax policy adjustments, and efforts to attract private capital into critical sectors.
Edun also pointed to Nigeria’s projected GDP growth of 4.6% by 2025, driven by sustained reforms in the oil and non-oil sectors, as well as strategic investments in agriculture, technology, and manufacturing.
Trans-Saharan Gas Pipeline and Other Strategic Initiatives
The discussions also covered major infrastructure projects, including the Trans-Saharan Gas Pipeline, which aims to enhance energy exports and regional integration, as well as Nigeria’s push for green finance solutions to support climate-resilient development.
Both parties expressed optimism about future collaborations, with Edun stating that Nigeria remains open to deeper partnerships with the EU in areas such as digital innovation, agro-industrialization, and renewable energy.
What This Means
The proposed EU-Nigeria trade and investment dialogue could pave the way for increased capital inflows, technology transfer, and job creation, further solidifying Nigeria’s position as a leading investment destination in Africa.
With the EU’s financial backing and Nigeria’s reform momentum, the partnership is expected to drive sustainable economic growth and long-term bilateral benefits.
