EU Boosts Trade Ties with €300,000 Grant to European Chamber of Commerce in Nigeria
The European Union has announced a €300,000 grant to support the European Chamber of Commerce (Eurocham) Nigeria, reinforcing its secretariat, expanding advocacy efforts, and deepening engagement with key stakeholders in the country.
Speaking at Eurocham’s 25th Annual Stakeholders Conference in Lagos, EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, described the funding as a significant step towards strengthening EU-Nigeria trade relations.
“A highlight of 2024 that I would like to underscore is the approval of a three-year grant to the tune of €300,000, which we awarded to Eurocham last year,” Mignot said. “This financial support will allow the Chamber to strengthen its Secretariat’s administrative capacity and expand external activities and advocacy work on behalf of its members.”
The initiative, he noted, is designed to reinforce Eurocham’s role in economic policy dialogue, ensuring closer collaboration with Nigerian policymakers, business leaders, and government agencies.
Deepening EU-Nigeria Trade Links
Mignot underscored the EU’s commitment to fostering a more robust business environment that facilitates investment and trade between Europe and Nigeria.
“By building on what has been achieved so far, we pave the way for even greater opportunities in key areas like trade, investment, and infrastructure development,” he stated.
The EU remains Nigeria’s largest trading partner and a leading source of foreign direct investment and development financing. The latest grant aligns with the broader EU Global Gateway Strategy, a four-year initiative aimed at enhancing infrastructure and economic partnerships across Africa.
As part of this strategy, Nigeria is set to benefit from investments in digital skills training, e-governance, and the deployment of 90,000 km of fibre-optic cables to expand digital connectivity.
“We look forward to greater visibility for transformative projects such as the Omi Eko water transportation initiative,” Mignot added. “Investments in agriculture, renewable energy, local vaccine manufacturing, and sustainable transportation remain key priorities, and we count on Eurocham to play an active role in identifying opportunities and advocating for a conducive business environment.”
With economic diversification high on Nigeria’s agenda, the EU’s latest move is expected to provide crucial support for businesses seeking to navigate regulatory challenges and expand cross-border trade.
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