EU-Nigeria Forum: Stakeholders to convene in Abuja as trade volume hits €45bn

As the Nigeria-European Union (EU) trade volume hits €45 billion, Nigerian and European business leaders, policymakers, and institutional stakeholders will converge on Abuja next week to identify and explore investment opportunities along specific value chains during the 9th European Union-Nigeria Business Forum.

The Forum, which is being held in the federal capital for the first time, is organised by the EU delegation to Nigeria and ECOWAS, in close coordination with EU member states and the Federal Ministry of Industry, Trade, and Investment.

Themed “Investing in jobs and a sustainable future,” the event will be held on July 2, 2024, at Abuja Continental Hotel.

The EU Ambassador to Nigeria and ECOWAS, Samuela Isopi, said the business forum, aside from fostering engagement between businesses, policymakers, and stakeholders from Nigeria and the EU, will also facilitate trade, investment, and partnerships through networking, discussions, and policy shaping to promote economic cooperation between the EU and Nigeria and stimulate sustainable growth for both parties.

“It is important to note that for the first time since its inception, the 2024 edition of the EU-Nigeria Business Forum will be held in Abuja. This will provide an opportunity for the EU, its Member States, and the private sector from Europe and Nigeria to engage the new administration on their investment agendas in a transparent and inclusive manner, with a view to fostering confidence and commitment to a stronger and sustainable partnership,” she said.

As part of the EU Global Gateway Strategy, she explained that EU-funded projects will complement private sector investment in areas, which bring about critical social, economic, and environmental sustainability.

The envoy said for Nigeria, particular attention is paid to harnessing local talent, particularly among youth and women, as well as economic, social, and environmental resilience.

The 9th EU-Nigeria Business Forum, she stressed, will focus on current and prospective investment in the digital, health, and agricultural sectors.

According to Ms. Isopi, the Business Forum will discuss options and respective benefits towards establishing a bilateral legal framework between the EU and Nigeria, bringing certainty, stability, and sustainability to bilateral trade and investment relations.

On her part, the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, applauded the EU delegation to Nigeria and ECOWAS as well as the EU member states for their dedication to promoting economic cooperation and stimulating sustainable growth.

The Forum will run in a hybrid format, targeting sectoral associations, the business community, and entrepreneurs, and is expected to attract at least 400 in-person participants, excluding those who will join the event virtually.

It will also feature panels on a range of issues, including Confidence in the Nigerian Economy – sustainable solutions to attract Foreign Direct Investment (FDI), Digitalisation Leapfrog, Healthy Economies Thrive, and From Agriculture to Agribusiness.