EU Ambassador Highlights Nigeria's Untapped Potential for Trade

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By Gloria Ikibah

The newly appointed European Union (EU) Ambassador to Nigeria and ECOWAS, Ambassador Gautier Mignot, has reiterated the EU’s commitment to supporting Nigeria in solidifying its position as a stabilizing force in Africa.

Ambassador Mignot expressed optimism about Nigeria’s journey towards becoming a peaceful, prosperous, and sustainable nation built on a strong democratic foundation that upholds the rights of all its citizens.

The envoy stated this at a media luncheon with journalists in Abuja, acknowledging the vibrant role of the European Chamber of Commerce (Eurocham) under the leadership of its Chairman, Yann Jigler.

He outlined plans to explore untapped opportunities for enhanced trade and investment, while launching new initiatives and projects aimed at strengthening the partnership between Nigeria and the EU.

However, the Ambassador noted the absence of a formal agreement or structured dialogue framework between Nigeria and the EU on trade and economic issues.

He expressed the willingness of the EU to address this gap by fostering better economic relations and dialogue to remove barriers that hinder increased European investment and trade in Nigeria.

Ambassador Mignot further reiterated that EU relationship with Nigeria is anchored on shared values such as human rights, democracy, the rule of law, multilateralism, and adherence to international law. He underscored the importance of aligning mutual interests to ensure a stronger and more dynamic partnership.

“The EU interests to see Nigeria consolidate its role as an anchor of stability in Africa and progress on its path towards a peaceful, prosperous and sustainable future, resting on a robust democracy and allowing all citizens to enjoy their fundamental rights.

“This strong partnership in particular applies to the trade and investment relationship. Nigeria’s first trade and investment partner, more or less one third of external trade for a direct investment in Nigeria is with the EU. And we have a vibrant European Chamber of Commerce, Eurocham, and the chairman of Eurocham is with us also today, Yann Jigler, and I will give him the floor just after my presentation to tell you a few words about the Eurocham annual stakeholders conference which will take place next Thursday in Lagos.

“And we want to help Nigerians in this endeavour, of course with the full respect for Nigeria’s sovereignty and also with the doses of humility, because especially in such a large country we cannot pretend that all cooperation is the main driver of change.

“And of course here the role is a very important role, the press has a very important role to play as a clinging house, let’s say, to explain to people and make the difference between the truth and the fake news.

“And as I told His Excellency the President during the credential ceremony, in uncertain times, in a fast evolving world as today, you need a constant and faithful partner on whom you know you can count.

“And the EU is and wants to be this for Nigeria and we feel that the reciprocity is true and we see Nigeria as a key partner and a major player in Africa and in the world and the next few years.

“And our new leaders are very much interested in Nigeria and we hope to have high-level visits and meetings soon to announce, to impulse our relationship at a higher level.

The Envoy stated that the EU mission was to strengthen the already existing partnership and give visibility to achievements in Nigeria.

According to him, EU-Nigeria partnership in Nigeria suffers from a lack of visibility still and there is need to combat it, not only in Nigeria but in other parts of West Africa and in the world.

He mentioned that the EU would also combat disinformation and misconceptions which are sometimes fostered by people and foreign interests, or simply in many cases misconceptions from people of good faith that seem to be ill-informed or influenced by fake news or disinformation.

“And so my mission, or rather our mission, because it is a teamwork in fact, is to propose and implement decisions made by our leaders to strengthen our partnership. And in fact it has two aspects.

“The first aspect of our mission is to give visibility, more visibility, to what we are already achieving in Nigeria and with Nigeria.

“And the second part is to impose new initiatives and projects to exploit the untapped potential of this partnership. So we are in fact already doing a othe stressed.

“Through the global gateway strategy I have just mentioned and investment agenda, we want to focus more on creating jobs and opportunities, especially for young people in Nigeria, building on Nigerians’ great sense of entrepreneurship and in sectors like green economy, digital, agri-food and health. And this is actually already an ongoing work. And we want to pay special attention to the north of the country where there are specific needs but also a great sense of entrepreneurship again.

“And we could witness this a few days ago during a recent trip to the northeast and we have a package of ongoing and new projects there. Now we could also sign science, technology and investment and innovation agreements to foster projects and opportunities in higher education and research. We want also to further strengthen our engagement in peace and security, responding better to Nigeria’s needs and expectations” he said.

Responding to questions on migration, Ambassador Mignot assured that EU will develop a migration partnership with Nigeria covering all aspects, the fight against smuggling and trafficking of human beings, legal pathways to respond to both parties’ interests, work with diasporas and also the issue of readmission and reintegration of migrants not admitted to remain in the EU or stranded in their way to Europe.

“And we hope very much to finalize the negotiation of a readmission agreement which could pave the way to a broader partnership. On regional issues and global issues we want also to achieve a closer consultation with Nigeria.

“The European Union is already the main supporter of ECOWAS and of course we have a vested interest in supporting the whole region in the same way as we want to support Nigeria. Development and prosperity and stability of West Africa is also key for us. And finally on all issues we want to partner more closely with Nigerian authorities at federal and local and state levels” he ended.