• Friday, July 19, 2024
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EU unveils digital platform to boost investment in Nigeria’s agribusiness sector

European Union
The European Union Delegation to Nigeria and ECOWAS on Tuesday launched the EU-Nigeria Agribusiness Platform, aimed at increasing private investments in the country’s agribusiness sector.
The EU-Nigeria Agribusiness Platform’s primary focus is to create linkages and interactions between Nigeria and EU agribusiness stakeholders, especially amongst Small and Medium Enterprises, and promote trade and investment between both sides.

The Platform is expected to contribute to boosting the exploration and exploitation of agribusiness opportunities between Nigeria and the EU through the establishment and maintenance of a network of active members of agribusinesses across Nigeria and the EU.

The initiative is also aimed at contributing to the reduction of food insecurity and poverty as well as the attainment of sustainable economic development in Nigeria.

Myriam Ferran,  the Deputy Director General, Directorate of International Partnerships (INTPA), European Commission, said the idea for an agribusiness platform stems from the commitments of the November 2020 EU-Nigeria Ministerial Dialogue.

The EU noted that it remains Nigeria’s biggest trading partner, first investor, top donor of humanitarian and development aid, and the biggest diplomatic network, stressing that EU-Nigeria trade relations favour Nigeria, with crude oil contributing the most of the imports from Nigeria.

“There is a need to improve on non-oil trade between Nigeria and the European Union”, Ferran stated.

Agribusiness Register Limited, a private sector entity will manage the EU-Nigeria Agribusiness Platform. The Agribusiness Register Limited will work with, and engage with selected agribusinesses, farmer groups, aggregators and other critical stakeholders.

It will also nurture partnership and collaboration with EU implementing partners in the relevant space of agriculture, digital and entrepreneurship on one hand, with the relevant agencies of the government of Nigeria.

In particular, it will work with the Federal Ministry of Agriculture, the Federal Ministry of Industry Trade and Investment, the Nigeria Export Promotion Council (NEPC), the Standards Organization of Nigeria and the Ministry of Communication and Digital Economy.