The European Union’s new ambassador to Nigeria, Gautier Mignot, has disclosed plans to boost trade relations with Nigeria and create jobs and opportunities for Nigerian youths.
Speaking in Abuja during his first press briefing since assuming office, Mignot emphasised the EU’s commitment to supporting Nigeria’s sustainable development, job creation, and economic growth.
He reaffirmed the EU’s position as Nigeria’s leading trade and investment partner, highlighting a robust economic relationship valued at €35 billion in total trade in 2023.
Mignot said: “Through the Global Gateway investment agenda, we will focus more on creating jobs and opportunities, especially for young people in Nigeria, building on Nigeria’s great sense of entrepreneurship in sectors like green economy, digital, agri-food and health.
“Special attention would be given to the North of the country where there are specific needs but also a great sense of entrepreneurship, as I could witness during my recent trip to the Northeast, and we have a package of ongoing and new projects there.
“We are also looking at science, technology and investment agreements to foster projects and opportunities in higher education and research and further strengthen our engagement in peace and security, responding better to Nigeria’s needs and expectations,” he said.
Mignot debunked the insinuation that the tariff threats by Donald Trump’s administration were pushing the EU towards Africa, stressing that “these decisions were made long before the US election”.
He said the EU made the decision to expand trade with Africa and Nigeria in particular following the Ukraine war.
The ambassador said that the EU is Nigeria’s largest trading and investment partner, adding that it was Nigeria’s top trading partner in 2023, with 28 per cent of its total trade.
He said total trade in goods amounts to EUR 35 billion (2023), with an average annual growth rate of 1.5% of EU imports and 0.9% of EU exports (2019-2023).
“When it comes to investment, a key priority of President Bola Tinubu’s Renewed Hope Agenda, Nigeria also has its strongest partner in the EU, as our foreign direct investment stock accounts for about one-third of Nigerian Foreign Direct Investment (FDI), totalling EUR 26.4 billion (2022),” he said, adding that there were hundreds of EU companies present in Nigeria.