EU Partners Federal Govt, Others On Increasing Gas Export To Europe

The European Union (EU) is partnering with the federal government of Nigeria, States and key economic players to discuss ways of increasing exportation of Nigerian gas to Europe.

Speaking at a press briefing to announce the 8th EU-Nigeria Business Forum expected to take place between June 30th and July 1st, 2022, in Lagos on Tuesday, the EU Ambassador to Nigeria, Ms. Samuela Isopi said, in the wake of the Russian Ukraine War that is affecting availability of gas and other sources of energy, Nigeria can leverage on this to increase export of gas to Europe.

Aside the fact that increased gas exports will generate more forex for the government, she added that, business leaders and government officials from Nigeria and Europe will, through the 8th EU-Nigeria Business Forum, also seek to identity new opportunities to unlock the Nigerian economy towards win-win outcomes for Nigerian and Europe.

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The EU- Business Forum, she said, has served as a strong platform for European and Nigerian business to engage with the Nigerian, noting that, the New economy will focus on three key sectors, including backward integration policy of the Nigerian government; opportunities to increase gas exports to Europe; and new initiatives in the agricultural sector.

“While these sectors are not new, the potential in them remains largely untapped. During the 8th EU-Nigeria Business Forum, discussions will aim to identify the cause of these hindrances and explore how these opportunities can be unlocked for the mutual benefit of Nigeria and Europe,” she pointed out.

As in previous editions, she disclosed that, this year’s EU-Nigeria Business Forum will seek to identify and address the bottlenecks militating against existing investors and deter new ones from investing in Nigeria’s economy.

The event, she said, is jointly organised by the EU Delegation to Nigeria and ECOWAS, in collaboration with EU member States in Nigeria.

On his part, Trade Counsellor, EU Delegation to Nigeria, Mr. John Taylor, disclosed that, in addition to the plenary discussions, there will be world cafè-style exhibitions on both days of the event.

The first day, he said, will feature a demonstration by several European companies operating in Nigeria on how they have been able to implement the backward integration policy of the Nigerian Government in their various sectors.

“Proceedings on the second day will be mainly focused on the Team Europe projects and EU businesses’ investments in the Nigerian agricultural sector.

Participation to the forum will be open to private sector and government officials,” he pointed out.