The European Union (EU) is exploring potential investments in Nigerian ports as part of its €150 billion initiative aimed at developing the Lagos-Abidjan corridor.
Jesus Gavilan, from the EU’s Directorate General for International Partnership said that multiple checkpoints hinder smooth transport between Benin and Nigeria. He emphasized the EU’s commitment to improving border efficiency with initiatives like a one-stop border post between Benin and Nigeria, in partnership with the French Development Agency and the European Investment Bank.
During a visit to the Nigerian Shippers Council (NSC), Celine Lhoste, leading the EU delegation, underscored the importance of Lagos ports for trade efficiency within the Lagos-Abidjan corridor. The EU aims to support efforts to decongest Lagos ports and enhance inland dry ports, with a focus on facilitating coastal shipping between Cotonou and Lagos.
Lhoste indicated that the EU’s investment strategy includes leveraging private sector contributions and grants to reduce investment costs and improve trade and transport infrastructure across the corridor.
Source: Vanguard