The European Union (EU) has pledged to strengthen its economic partnership with Nigeria, especially in key areas such as investment, trade, and job creation.
The new EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, made this known to journalists on Wednesday in Lagos.
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To achieve this, Mr Mignot said the EU plans to improve the structure of its economic relations with Nigeria and remove obstacles that hinder investment and trade.
He said this is imperative as “no agreement or dialogue framework” exists between both entities.
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Another strategy according to the envoy, is to implement the Global Gateway investment agenda, which prioritises job creation and opportunities for young Nigerians in sectors like green economy, digital, agri-food, and health.
He noted that the agenda is the EU’s new investment strategy aimed at connecting people and accelerating green, digital and inclusive transition in partner countries like Nigeria.
“The EU recognises the importance of accelerating Nigeria’s industrialisation and maximising the opportunities for local added-value and job creation.
“With the Global Gateway Investment Strategy, the EU works in sectors crucial for the transformation and diversification of the Nigerian economy such as energy, digital economy, agriculture and food security.
‘The flagship projects under the Global Gateway include inter alia Omi Eko (Lagos waterway transport), development of the renewable energy sector (solar, small hydropower), production of vaccines (MAV+), Erasmus+ and Horizon programs,” he said.
Funding for Northern Nigeria
Speaking further, Mr Mignot reaffirmed the EU’s commitment to addressing the unique development challenges in Northern Nigeria.
He said with a cooperation budget of €731 million in grants for 2021-2027, the EU aims to support sustainable development, reduce poverty, and enhance access to basic services in the region.
According to Mr Mignot, the grants will be used to support initiatives such as emergency food assistance, health, protection, and shelter for displaced people and victims of conflict.
“The EU recognises the importance of solidarity and remains committed to partnering with the government of Nigeria in assisting the people affected by conflict and violence as well natural induced disaster.
“Together with its Member States, it is one of the main humanitarian donors in Nigeria. This assistance saves countless lives every day,” he said.
The EU’s humanitarian aid to Nigeria is crucial, given the country’s complex humanitarian situation.
Citing the latest Cadre Harmonise projections, the European Civil Protection and Humanitarian Aid Operations says over 7.9 million people require humanitarian assistance in North-East Nigeria, with 4.8 million struggling to find enough food during the lean season.
Irregular migration
Mr Mignot said the EU is eager to partner with Nigeria to address the complex issues surrounding migration.
He said this partnership aims to cover all aspects of migration, including smuggling and trafficking of human beings, working with diasporas, pathways, readmission and reintegration of migrants.
According to him, the key aspect of this partnership is the readmission agreement, which will pave the way for a more global partnership.
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