The bilateral trade relationship between Nigeria and the European Union (EU) has grossed over €45 billion over the years, Samuela Isopi, Head of delegation of the EU and ECOWAS said on Tuesday in Abuja.
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She made the disclosure when she led a delegation on a courtesy visit to the Minister of Budget and Economic Planning Senator Abubakar Atiku Bagudu.
Putting in the perspective the volume of trade between Nigeria and the EU, Isopi, said: “Trade has been growing over the years and by the latest figure that we have, it’s about forty-five billion euros (45 billion) with the balance in favour of Nigeria and the balance is growing”.
Since investment is a priority of the Bola Tinubu administration, Ambassador Isopi disclosed that the EU is currently “mapping out the presence of European companies here, We know that there’s much that can be done and we know that Nigeria is really a land of opportunities”.
The EU she added will work together with the federal government on “how we can tap that potential, these are some of the things that will come in priorities in the dialogue between our respective institutions”.
Responding, the Minister for Budget and National Planning Senator Abubakar Atiku Bagudu expressed delight that trade between Nigeria and the EU was growing along with support and corporations in different areas.
“This is consistent with the drive by our president to boast relationship, to mobilize investors, to seek support from partners, not just a development partner but a partner who can help us improve our processes and ways of engaging with the world”.
Bagudu noted that the federal government appreciates “the cordial relationship we have with the EU alot, and we want to demonstrate that by providing opportunities for more partners, private sector relationships which are already on ground, social and cultural relationships will also be boasted” he said.
He said the federal government acknowledges the support of the EU “in areas of governance and improvement of the rule of law.
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