Lagos, Nigeria, 25 June 2026
The European Union and Nigeria on Thursday reaffirmed their strengthened Strategic Partnership, with leaders from both sides highlighting growing economic cooperation and a shared commitment to deepen investment, trade and private sector collaboration during the 10th Nigeria–EU Business Forum.
The Forum brought together senior government officials, European institutions, development finance partners and business leaders following the elevation of Nigeria–EU relations to a higher strategic level at the March 2026 EU–Nigeria Ministerial Meeting, reflecting a shared ambition to accelerate sustainable economic growth through stronger partnerships and increased investment.
Speaking at the Forum, the Ambassador of the European Union to Nigeria and ECOWAS, Gautier Mignot, described the event as the first major milestone under the enhanced partnership.
"Today's Business Forum is the first concrete illustration of this common purpose," Ambassador Mignot said.
He said the strengthened partnership builds on an already robust economic relationship, with the European Union accounting for 31 per cent of Nigeria's foreign trade while remaining the country's largest source of foreign direct investment. He noted that cooperation is gathering pace through the European Union's Global Gateway strategy, expanding European Investment Bank operations, the commencement of European Bank for Reconstruction and Development activities in Nigeria, stronger Team Europe coordination and a structured Nigeria–EU trade and investment dialogue.
Delivering the keynote address on behalf of Vice President Kashim Shettima, Princess Zahra Mustapha Audu, Director-General of the Presidential Enabling Business Environment Council (PEBEC), described the Nigeria–EU relationship as "a strategic economic alliance" that extends well beyond diplomacy.
She said the partnership supports more than €35 billion in annual trade, approximately €26 billion in European foreign direct investment and over 130,000 direct jobs across Nigeria, demonstrating that the relationship is increasingly economic, strategic, technological and people-centred.
"The Nigerian–European Union Business Forum has evolved beyond a dialogue platform. It has become an important vehicle for translating shared aspirations into investments, commercial partnerships, policy reforms and development outcomes," she said.
Princess Zahra said the Forum represents "where policy meets enterprise, where dialogue meets execution, and where opportunities are transformed into investments." She added that Nigeria's ongoing economic reforms are strengthening macroeconomic stability, improving investor confidence and positioning the country as a preferred destination for productive investment. Looking ahead, she said the success of the Nigeria–EU partnership would be measured not only by agreements signed, but by "the infrastructure we build, the industries we develop and the technologies we deploy."
The Honourable Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the Forum demonstrated growing confidence in Nigeria's reform programme and reaffirmed the Federal Government's commitment to strengthening the investment climate through continued engagement with the private sector.
"Our work here as government is simple: to listen, to partner, to further our collaborative interventions," she said, adding that the business insights presented during the Forum would help inform policies to improve Nigeria's competitiveness and attract greater investment.
Representing the Honourable Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, the Honourable Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, said Nigeria's economic transformation was being driven by disciplined reforms and a coordinated strategy to mobilise public and private investment.
"Economic transformation is not a matter left to chance. It can only be achieved as a matter of choice, discipline, deliberate strategy and coordinated implementation," she said.
Dr Uzoka-Anite said the Federal Government's reforms, including public financial management reforms, tax reforms and stronger fiscal coordination, were ensuring that resources are directed towards priority sectors that create jobs, attract private capital and deliver infrastructure. She added that the investment facilities announced at the Forum form part of Nigeria's broader strategy to support sustainable economic growth through stronger partnerships with development finance institutions and the private sector.
Held under the theme "Enhancing Sustainable Investment Together," the 10th Nigeria–EU Business Forum convened policymakers, investors, financial institutions and business leaders from Nigeria and Europe to advance cooperation across renewable energy, digital infrastructure, healthcare, agriculture, manufacturing, sustainable transport and trade.
As the first major business engagement following the elevation of Nigeria–EU relations to a strengthened Strategic Partnership, the Forum reflected a shared determination to deepen long-term economic cooperation and translate political commitments into practical outcomes for businesses, investors and citizens on both sides.
