Gautier Mignot, the newly appointed European Union Ambassador to Nigeria, aims to enhance trade ties during his first press briefing in Abuja. He emphasized the EU’s commitment to Nigeria’s sustainable development, job creation, and economic growth.
Mignot reaffirmed the EU’s position as Nigeria’s primary trade and investment partner, with total trade valued at €35 billion in 2023. He stated, “Through the Global Gateway investment agenda, we will focus on creating jobs and opportunities, particularly for young people in Nigeria,” aiming to leverage Nigeria’s entrepreneurial spirit in sectors like the green economy, digital technology, agri-food, and health.
He expressed a commitment to prioritizing efforts in Nigeria’s northern region, acknowledging its unique needs and entrepreneurial potential, particularly evident during his recent visit to the Northeast. The EU is advancing various projects in this area and seeking collaborations in science, technology, and investment to improve higher education and research, thereby supporting peace and security.
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Mignot dismissed claims that tariff threats by Trump’s administration influenced the EU’s focus on Africa, stating those decisions were made before the US election. He highlighted that the EU’s decision to strengthen trade relations with Africa, particularly Nigeria, stemmed from developments after the Ukraine conflict.
Noting that the EU is Nigeria’s largest trading and investment partner, Mignot revealed that in 2023, it accounted for 28% of Nigeria’s total trade, reaching €35 billion with an annual growth rate of 1.5% for EU imports and 0.9% for EU exports from 2019 to 2023.
In line with President Bola Tinubu’s Renewed Hope Agenda, Mignot underscored the significance of investment, stating that EU foreign direct investment constituted about one-third of Nigeria’s total, amounting to €26.4 billion in 2022. He concluded by highlighting the substantial presence of hundreds of EU companies operating in Nigeria, reinforcing the importance of this partnership.
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