EU-Nigeria Business Forum To Promote Bilateral Trade, Investment Stability

The Nigerian and European business leaders, policy makers and institutional stakeholders will converge on Abuja on July 2 to identify and explore investment opportunities along specific value chains during the 9th European Union-Nigeria Business Forum.

The Forum, which is holding in the federal capital for the first time, is being 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.

It will be organised under the theme “Investing in jobs and a sustainable future,” at Abuja’s 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 facilitates 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.”

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

In the case of Nigeria, particular attention is paid to the harnessing of local talent, particularly among youth and women, as well as economic, social, and environmental resilience. Against this backdrop, she stated, the 9th EU Nigeria Business Forum will focus on current and prospective investment in the digital, health, and agricultural sectors.

According to 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.

Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, expressed her support, saying, “I commend 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. Let us seize this opportunity to pave the way for a prosperous future for both Nigeria and the EU.”

The Forum will run in a hybrid format, targeting sectoral associations, 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.