The European Union Council has reinforced its commitment to a robust partnership with Nigeria by allocating over €3 billion in annual investments, resulting in the creation of 160,000 jobs.
Gatekeepers News reports that Ambassador of the European Union to Nigeria and the Economic Community of West African States (ECOWAS), Samuela Isopi shared these insights during her keynote address at the EuroCham Nigeria Stakeholders annual conference in Lagos.
The EuroCham Nigeria Stakeholders conference, themed “Sustainable Business Growth,” served as a platform to discuss pivotal economic engagements between the EU and Nigeria.
In her speech, Ambassador Isopi highlighted the strengthened collaboration between the EU and Nigeria, particularly under the leadership of President Bola Ahmed Tinubu. The EuroCham-conducted survey involving 300 European companies operating in Nigeria provided valuable data on the impact of European businesses in the country.
Key figures shared by Ambassador Isopi include:
– Creation of over 160,000 decent jobs, both directly and indirectly.
– Yearly direct investment exceeding €3 billion.
– Training and skill development of 18,000 Nigerian staff annually.
– Four out of 10 European companies establishing their presence in Nigeria in the last decade.
These statistics underscore the significant contribution of European enterprises to Nigeria’s economic landscape. The Ambassador praised the resilience and capacity of European businesses in Nigeria and emphasized their role in showcasing the country’s economic potential.
Ambassador Isopi commended President Tinubu’s proactive measures to revitalize the Nigerian economy and create an investor-friendly environment. The EU expressed support for these initiatives through senior official visits, culminating in October 2023.
