Trade Volume Between Nigeria, EU Hits €45bn

The trade volume between Nigeria and the European Union(EU) has hit €45billion euros, according to the latest report.

Ambassador Samuela Isopi, Head of Delegation to the European Union and ECOWAS, stated this on Tuesday in Abuja when she in the company of the Acting Head of Cooperation of EU, Mr. Ruben Alba Aguilera, paid a courtesy visit to the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu.

Isopi expressed the desire of the European Union to deepen trade, investment, and development relations with Nigeria, adding that the European Union would continue to stand by Nigeria and further deepen relations under the leadership of President Bola Tinubu.

In an interview with newsmen, she revealed that companies from the EU member states would invest in Nigeria, adding that “Nigeria is really a land of opportunities and we have to seek together how we can tap the potential.”

On the essence of her visit, she said: “We are here to convey a message that the EU and the member states would like to boost the cooperation that we have always had with Nigeria

“The European Union and Nigeria are neighbours, we are also global players and leaders. We have been in India where Nigeria was present and the EU was also present.

“We are comprehensive partners, I will say because we have a very strong relationship in trade and investment, development cooperation, and political relations. We have so much in common.

“The message I want to convey to the minister this afternoon is that we will continue to stand by Nigeria, and further develop our relations under the leadership of President Tinubu.

“We have discussed what we have in our own portfolio now and also touched upon future development in our relations.

“I explained to the minister that if you look at indicators about a good relation that we have had, actually the figures about trade are quite self-explanatory.

” I was telling the minister that trade has been growing over the years and by the latest figure that we have, is about forty-five billion euros (€45 billion ) with the balance in favour of Nigeria and the balance is growing.

“Also in terms of investment, since this is really very much of a priority for the President, we are mapping out the presence of European companies here.

“We know that there is much that can be done and we know that Nigeria is really a land of opportunities and we have to seek together how we can tap that potential, these are some of the things that will come in priorities in the dialogue between our respective institutions.”

Also speaking, Bagudu assured that Nigeria would provide opportunities for investment by EU companies.

The minister noted that Nigeria and the EU have had fruitful and mutual relations, adding that the relations would be deepened and sustained under the administration of President Bola Tinubu.