The European Union (EU) has said ongoing efforts are aimed at expanding Nigeria’s current $10 billion non-oil trade surplus with Europe by removing longstanding barriers and strengthening economic cooperation.
EU Ambassador to Nigeria, Gautier Mignot, disclosed this during a media briefing in Abuja alongside the ambassadors of Czech Republic, Sweden, Poland, Italy, Germany, Finland, France and Portugal. He said the upcoming EU–Nigeria Ministerial Summit, expected in the first quarter of 2026, will prioritise dismantling trade obstacles and deepening ties across multiple sectors.
Although a formal date has not been fixed, Mignot said the summit is among the flagship engagements planned for 2026. Current EU–Nigeria non-oil trade stands at around $10 billion in Nigeria’s favour.
Outlining the EU’s 2026 agenda for Nigeria, he highlighted plans to advance the Global Gateway strategy with key investments, including EU and EBRD support for the BRIDGE project, which aims to deploy 90,000 km of optic fibre nationwide. Additional initiatives will cover renewable energy, climate-smart agriculture, and enhanced cooperation on peace and security—supported by a dedicated dialogue in early 2026 that may unlock new funding under the European Peace Facility.
Other areas of engagement in 2026 include negotiating a science, technology and innovation agreement; strengthening migration and mobility cooperation with new EU funding; pushing for a readmission agreement; and organising a business forum to stimulate trade and investment.
Mignot described the EU-Nigeria partnership as “second to none,” noting that the EU remains Nigeria’s largest trading partner and the biggest market for its non-oil exports. He emphasised that one-third of Nigeria’s foreign direct investment stock originates from the EU, though this is not always reflected in data that tracks only individual member states.
He explained that the first EU–Nigeria Trade and Investment Dialogue was convened to address existing bottlenecks and unlock untapped opportunities, with both sides establishing specialised working groups to tackle the issues.
Reflecting on his visits to 17 states across Nigeria, the ambassador acknowledged the country’s complex challenges—from insecurity to poverty and inequalities—but praised its economic potential, digital innovation and widespread entrepreneurial energy. He commended federal and state governments for efforts to harness this momentum toward sustainable development.
Mignot cited several ongoing EU-supported projects, including the €410 million OMI-EKO electric waterways transport project in Lagos; a health investment forum in October that mobilised €41 million in new funding; and the newly launched Nigeria cluster of the Africa-Europe cultural partnership programme, part of a €30 million initiative for Sub-Saharan Africa.
He added that the EU continues to support Nigeria’s security and peace-building efforts nationwide, including a €300 million Team Europe package for the North and nearly €50 million committed this year to humanitarian assistance, particularly to address severe malnutrition in the North-West and North-East.
The ambassador affirmed the EU’s strategic interest in helping Nigeria and other West African countries remain stable, democratic and prosperous partners, noting that European firms remain keen on investment opportunities through the growing EUROCHAM network, which now has 75 member companies.
