The European Union Ambassador to Nigeria, Samuela Isopi has said that the volume of trade between EU-Nigeria stood at €28.7billion in 2021 with an increase of about 25.8% in 2020.
This accounts for the EU’s import rate from Nigeria at €17.5bn, while its exports are valued at €11.2bn, with the trade balance at €6.4bn in favour of Nigeria.
The Ambassador review this at a press briefing ahead of the upcoming May 9 2022 Europe Day held on Thursday, in Abuja.
She said this giant stride is attributed to various bilateral engagements with Nigeria aimed at fostering more partnerships for result-driven.
She further pledges the EU’s continued collaboration with Nigeria to address issues of common concerns for integration.
“The EU is Nigeria’s most important trading partner accounting for 20.9% of Nigeria’s trade with the world. EU is the first export destination for Nigeria, accounting for 25.4% of its exports. EU is second in Nigeria’s imports from the world accounting for 16.1% of its total imports.
The EU and Nigeria’s recent launch of a Joint Ministerial Roadmap and of a seven-year Multiannual Indicative Programme for Nigeria aimed to consolidate extant gains of the partnership while underlining the EU’s commitment to long-term support aligned with its shared priorities, values and interests with Nigeria.
The Multiannual Indicative Programme for Nigeria 2021-2027 targets projects that reinforce the EU’s bilateral cooperation with Nigeria in three focal areas of Green and Digital Economy; Governance, Peace and Migration; and Human Development. The EU is working with its Member States, the European Investment Bank (EIB) and other EU Development Finance Institutions in the implementation of the agreed priorities, as Team Europe.”
Also speaki
g on the EU’s humanitarian and development aid Ambassador Samuela said its country remains Nigeria’s biggest diplomatic network with a shared interest in providing assistance to victims of insurgence.
“The EU has been providing the lead in efforts to promote peace and security, democratic governance and rule of law, human rights and freedoms, prosperity and decent living at home and around the world. In the face of global challenges like pandemics, security, finding green and digital solutions, climate change and migration, the EU has already proven to be more effective while working with its networks of partnerships across the world.
Together with its Member States, the EU is the biggest donor of COVID-19 vaccines to Nigeria and has so far gifted it with 20 million doses, representing 61% of all donated vaccines received by Nigeria through the COVAX facility.
We are supporting the government’s efforts to fight terrorism, radicalization and violent extremism as well as the reform of the criminal justice system.”
Consequently, this year’s EU day activities are said to kick-start with the light-up of the Abuja City Gate on 6 May 2022 in the EU’s colour to underline its partnership with the Nigerian government.
