Nigeria and EU Discuss €1.3 Billion Investment, Economic Reforms to Boost Growth

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with the European Union (EU) Ambassador to Nigeria, Gautier Mignot, in Abuja on Wednesday to discuss a €1.3 billion investment portfolio aimed at enhancing Nigeria’s economic growth. This meeting was part of a broader effort to explore further collaboration between Nigeria and the EU, with a focus on critical sectors such as infrastructure, green finance, and sustainable development.

Ambassador Mignot highlighted the EU’s position as Nigeria’s largest trading partner and a key source of foreign direct investment (FDI), emphasizing the potential for greater cooperation. He proposed the creation of a structured trade and investment dialogue to improve infrastructure, boost the digital economy, and accelerate energy transition. The EU’s ongoing investments, alongside the efforts of the European Bank for Reconstruction and Development (EBRD), reflect a shared interest in supporting Nigeria’s economic transformation.

Minister Edun responded positively, reiterating Nigeria’s commitment to macroeconomic stability and investor-friendly policies. He outlined recent reforms such as the National Single Window trade facilitation system and tax policy adjustments aimed at improving the ease of doing business. He also shared Nigeria’s optimistic GDP growth projection of 4.6% by 2025, bolstered by strategic investments in agriculture, technology, and manufacturing.

The discussions also covered key infrastructure projects like the Trans-Saharan Gas Pipeline and green finance initiatives. Both parties expressed confidence that deeper collaboration could drive job creation, technology transfer, and sustainable economic growth, solidifying Nigeria’s position as a leading investment destination in Africa. The proposed EU-Nigeria trade and investment dialogue is seen as a significant step toward long-term bilateral benefits.

Source: naira metrics