Business leaders and government officials from Nigeria and Europe will seek to detect new prospects to unlock the nation’s economy for the benefit of Nigeria and Europe at the 8th EU-Nigeria Business forum taking place in Lagos between June 30 and July 1, 2022.
Speaking at a press briefing in Lagos to herald the event, Head of Delegation, European Union to Nigeria and to the Economic Community of West African states (ECOWAS), Samuela Isopi said that the event, which is organised by the EU delegation to Nigeria and ECOWAS, in collaboration with EU member states would 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.
According to Isopi, the forum comes under the theme, ‘Nigeria and the New Economy’’ and she added that it would address the tailbacks militating against existing investors and deter new ones from investing in Nigeria’s economy.
The Ambassador recalled that the EU-Nigeria Business forum has served as a strong platform for European and Nigerian businesses to engage with the Nigerian authorities towards improving the business environment.
Describing European Union as a bloc, she said that the Union was by far the major trading partner of Nigeria with about €28 billion in 2021.
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To her, oil and gas sector embodies the majority of the trade, adding that Europe accounts for 20 percent of the total Nigerian trade with the rest of the world.
“This is an agenda that we are trying to develop further. Discussions are ongoing between the Nigerian government and the European Union on how to develop economic relations,” she said.
Also speaking, the Trade counsellor, EU delegation to Nigeria and ECOWAS, John Taylor, said during the forum there would be a world café-style exhibitions on both days of the events, adding that “the first day 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.”
On her part, team leader, green and digital economy, Inga Stefanowicz explained that EU would be partnering the private sector to generate employment prospects, development of SMEs.
“We are also looking for development of agriculture value chains in horticulture, aquaculture and livestock development under the Team Europe initiatives,” she said.
