Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with the European Union (EU) Ambassador to Nigeria, Mr. Gautier Mignot, in Abuja on Wednesday to discuss a strategic €1.3 billion investment portfolio aimed at bolstering Nigeria’s economy.
The meeting, announced by the Federal Ministry of Finance in a post on X (formerly Twitter) on Thursday, focused on strengthening economic ties between Nigeria and the EU, which is Nigeria’s largest trading partner and a key source of foreign direct investment (FDI).
Key Investment Commitments and Strategic Projects
Ambassador Mignot proposed the establishment of a structured trade and investment dialogue to enhance collaboration in critical sectors such as infrastructure, green finance, and sustainable development. He also highlighted the EU’s ongoing engagement through the European Bank for Reconstruction and Development (EBRD) and the EU’s Global Gateway Investment Strategy, designed to expand infrastructure and promote sustainable growth across Africa.
“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,” the post read.
Mignot reaffirmed the EU’s commitment to supporting Nigeria’s economic transformation, citing ongoing reforms and the country’s growing trade surplus as positive indicators. He noted that deeper cooperation could accelerate Nigeria’s infrastructure modernization, digital economy expansion, and energy transition efforts.
Nigeria’s Economic Reforms and Growth Projections
Minister Edun welcomed the EU’s proposal and reiterated Nigeria’s dedication to macroeconomic stability, investor-friendly policies, and fiscal consolidation. He outlined key reforms aimed at improving the ease of doing business, including the National Single Window trade facilitation system, tax policy adjustments, and initiatives to attract private capital into strategic 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 targeted investments in agriculture, technology, and manufacturing.
Strategic Infrastructure Initiatives
Discussions also covered major infrastructure projects such as the Trans-Saharan Gas Pipeline, designed to boost energy exports and regional integration. Additionally, Nigeria’s push for green finance solutions to support climate-resilient development was a key focus.
Both parties expressed optimism about future collaborations, with Edun affirming Nigeria’s openness to deeper partnerships with the EU in areas such as digital innovation, agro-industrialization, and renewable energy.
Implications of the EU-Nigeria Investment Dialogue
The proposed trade and investment dialogue could facilitate increased capital inflows, technology transfer, and job creation, reinforcing Nigeria’s position as a leading investment hub in Africa. With the EU’s financial backing and Nigeria’s ongoing economic reforms, the partnership is expected to drive sustainable growth and long-term bilateral benefits.
