Nigeria, EU, ECOWAS Chart Path To Regional Investment Growth

Nigeria, the European Union (EU) and the Economic Community of West African States (ECOWAS) have charted a new course for regional investment growth, pledging deeper collaboration to boost trade, investment and sustainable economic growth.

The parties stated this at the 10th Nigeria-EU Business Forum, held in Lagos under the theme, “Enhancing Sustainable Investment Together.”

In a video message to participants, the High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, Kaja Kallas, described Nigeria as an economic powerhouse on the African continent and reaffirmed its importance as a partner of the European Union.

“The choice to come to Nigeria was no coincidence,” she said. “Nigeria is an economic powerhouse on the African continent and an important partner for the EU today,” she said.

Kallas also encouraged European businesses to explore opportunities in Nigeria, describing the country as an excellent destination for your investment.

She said the speed with which the Forum had been convened following her visit to Nigeria reflected the eagerness of both European and Nigerian businesses to deepen commercial partnerships.

Speaking on behalf of ECOWAS Commission President, Dr Omar Alieu Touray, the Commission’s Director of Trade, Kolawole Sofola, said the Forum reflected a partnership that had evolved beyond trade in goods to support broader economic cooperation between Nigeria and the European Union.

He noted that ECOWAS and the African Continental Free Trade Area provide a legal foundation for investment, connecting businesses to a regional market of more than 400 million consumers and a continental market of over 1.4 billion people.

Sofola invited investors to regard Lagos not only as a destination but as a platform to a wider regional and continental market”, highlighting opportunities in agro-processing, energy, the digital economy and manufacturing.

He also welcomed the European Union’s support for regional infrastructure and trade facilitation, including the Abidjan-Lagos Corridor under the Global Gateway strategy, describing it as a practical example of sustainable investment in action.

The 10th Nigeria-EU Business Forum brought together government leaders, European and Nigerian businesses, investors, development partners and financial institutions to explore new business opportunities, strengthen commercial partnerships and advance sustainable economic growth.

The Forum reaffirmed the shared commitment of Nigeria, the European Union and regional partners to deepen economic cooperation and support private sector-led growth across West Africa.