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EU Ambassador Highlights Nigeria’s Untapped Potential for Trade, Investment

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By Gloria Ikibah

 

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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.

 

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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.

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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.

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“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.

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Senate mulls terrorism charges for oil theft offenders

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The Senate, yesterday, issued a stern warning that perpetrators of oil theft in the Niger Delta region may soon face terrorism charges and other stiffer penalties.

Senate President, Godswill Akpabio, disclosed this while declaring open a two-day public hearing on the “Incessant and nefarious acts of crude oil thefts in the Niger Delta and the actors held.”

The hearing organised by the Senate Ad-hoc Committee on Incessant Crude Oil Theft chaired by Ned Nwoko is aimed at addressing the persistent theft of crude oil in the Niger Delta and produce actionable solutions to the problem.

Akpabio, who was represented by his deputy, Barau Jibrin, said the 10th National Assembly would not stand idly by as the country loses billions of dollars annually to what he described as “brazen economic sabotage.”

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He disclosed that the National Assembly was considering a range of strong legislative responses, including categorising major acts of oil theft as terrorism, mandatory digital metering for all oil production and exports, real-time monitoring, improved transparency in crude lifting and revenue reporting, as well as enhanced coordination among military, law enforcement, and anti-corruption agencies.

“Crude oil theft is not a victimless crime. It is directly responsible for economic instability, a weakened naira, underfunded critical sectors, and widespread poverty in oil-producing communities. It also finances illegal arms, fuels violence, and strengthens criminal networks.”

Akpabio lamented that despite past efforts, crude oil theft continues unabated due to systemic failures and gaps in enforcement and oversight. Recent reports estimate that Nigeria loses between 150,000 and 400,000 barrels of crude oil daily, costing the country billions in lost revenue.

“This public hearing must address critical questions: Who are the perpetrators? Are they militants, corrupt officials, international collaborators—or all three? Why have current security measures failed? And how are stolen shipments leaving the country undetected?” he asked.

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The Senate President called on all stakeholders including regulatory agencies, oil companies, security forces and host communities, to work collaboratively to stop the looting of the country’s most valuable resource. He emphasised that oil companies must invest in surveillance technology and secure infrastructure, while host communities should act as first-line defenders rather than victims or accomplices.

“To the criminals stealing our crude oil, your time is up. To the agencies tasked with protecting our resources, the nation is watching. And to this Ad-hoc Committee, the Senate expects a robust, no-holds-barred report that will guide firm legislative and executive action.”

Akpabio commended Nwoko, who chairs the Committee convening the hearing and stressed that the recommendations must lead to actionable, measurable and time-bound solutions.”

“The survival of Nigeria’s economy depends on how we respond to this crisis,” he concluded.

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Meanwhile, ahead of its planned two-day national security summit, the Senate, yesterday, set up a 20-member committee to organise the event.

The Senate President, Akpabio, who announced the committee’s formation during plenary, said it would be chaired by the Senate Leader, Opeyemi Bamidele, with Yahaya Abdullahi serving as the vice chairman.

Other members are Ireti Kingibe (FCT), Adebule Idiat (Lagos), Barinada Mpigi (Rivers), Babangida Hussaini (Jigawa), Jimoh Ibrahim (Ondo), Osita Ngwu (Enugu), Tahir Monguno (Borno), Titus Zam (Benue), Ahmed Lawan (Yobe), Abdulaziz Yar’Adua (Katsina), Gbenga Daniel (Ogun), Austin Akobundu (Abia), Shehu Buba (Bauchi), Ahmed Madori (Jigawa), Emmanuel Udende (Benue), Adams Oshiomhole (Edo), Shuaib Salisu (Ogun), Isah Jibrin (Kogi) and the Clerk of the Senate, Andrew Nwoba.

The committee is tasked with developing the summit’s framework, including setting the agenda, identifying core issues for discussion, and recommending actionable strategies to improve national security. Akpabio directed the committee to submit its report within two weeks.

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The decision to convene the summit followed a resolution passed on May 6 after a motion sponsored by Jimoh Ibrahim to address escalating security challenges in the country was adopted. It is expected to address pressing issues such as terrorism, insurgency, and the alarming trend of leaking military intelligence to militant groups, an issue widely seen as compromising ongoing security operations.

This is not the first time the National Assembly would attempt to address security concerns through a summit. In May 2021, the ninth Assembly, under the then Senate President, Ahmad Lawan and House Speaker, Femi Gbajabiamila, organised a similar summit. Despite contributions from security experts, civil societies, and government agencies, insecurity has continued to plague the country.

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Court convicts 10 Thai sailors, vessel for cocaine trafficking

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Justice Daniel Osiagor of the Federal High Court in Lagos on Thursday convicted ten Thai nationals for trafficking 32.9 kilograms of cocaine into Nigeria.

The convicted individuals, all sailors, were found guilty alongside their vessel, MV Chayanee Naree, which was used to smuggle the illicit drug into the country.

The convicted Thais’ sailors are: Krilerk Tanakhan; Boonlert Hansoongnern; Jakkarin Booncharoen; Thammarong Put-tlek; Worrapat Paopinta; Marut Kantaprom; Werapat Somboonying; Urkit Amsri; Panudet Jaisuk, and Amrat Thawom.

The vessel and convicted sailors were first arraigned before the court alongside nine Nigerians, on the alleged offences in February 2022, by the National Drug Law Enforcement Agency (NDLEA).

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The Nigerians are: Samuel Messiah; Ishaya Maisamari; Ilesanmi Ayo Abbey; Osabeye Stephen; Gbenga Ogunfadeke; Kayode Buletiri; Rilwan Omotosho Liasu; Saidi Sule Alani, and Jamiu Adewale Yusuf.

The vessel, the convicted sailors and the nine Nigerians were arrested on October 13, 2021, at Apapa, Lagos, on their arrival from Brazil.

They were charged before the court on charges bordering on conspiracy, unlawful transportation and unlawful importation of 32.9 kilograms of Cocaine.

Their illegal acts, according to the NDLEA, contravened sections 11 (b), 11(a) and 14 (b) of the National Drug Law Enforcement Agency Act Cap N30 Laws of the Federation of Nigeria, 2004. And punishable under the same Act.

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The convicted Thais and their Nigerian alleged co-conspirators were accused of committing the acts alongside the trio of Kehinde Enoch, Ayo Joseph and one Tunde, all said to be at large.

The convicted sailors were prosecuted by the NDLEA prosecutors, who include; Mrs Theresa Asuquo, A. Adebayo and Paul Awogbuyi. While they were defended by their team of lawyers, who include Babajide Koku, Femi atoyebi and Tunde Adejuyigbe, who are Senior Advocates of Nigeria (SAN).

Upon conclusion of the NDLEA’s case, the convicted sailors opted for No-Case-Submission instead of opening their defence against the allegations against them. This was, however, contended by the prosecutors, who submitted that they had established a prima facie case against the vessel and its Crew.

In deciding the No-Case-Submission, Justice Osiagor acceded to the submissions of the prosecution and held that the prosecution had established a prima facie case against the vessel and its Crew members.

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The judge therefore ordered the convicted Thais and others to open their defence against the charges against them.

Based on the court’s ruling, the convicted sailors entered a plea bargain agreement with the NDLEA.

At the resumed hearing of the matter for judgment today, and based on the plea bargain agreement, Justice Osiagor ordered the vessel to pay a fine of $4 million USD or Naira equivalent.

On the convicted sailors, the judge ordered the three Captains of the vessel, namely; Krilerk Tanakhan; Boonlert Hansoongnern; Jakkarin Booncharoen; to pay the sum of $50, 000, 00 USD. And that the other crew member to pay $30, 000, USD each. And that other convicted sailors are ordered to pay the sum of N100,000. 00, as a fine optio n.

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Meanwhile, the trial of the nine Nigerians has been adjourned to June 25.

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Court of Appeal affirms nullification of Ebonyi council polls

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The Court of Appeal Enugu Division has affirmed the judgement of Justice R O Riman of the Federal High Court Abakaliki, nullifying the conduct of Local Government election in Ebonyi State.

Justice Joseph Ekanem, who read the lead judgement of the Appeal court, gave the ruling while dismissing the three appeals filed by Ebonyi State Government, Central Bank and Local Government Chairmen, challenging the ruling of the Federal High Court.

The Appeal Court ruled that the earlier judgement of Justice R O Riman then of Federal High Court Abakaliki remains valid and subsisting.

According to the Appeal court: “The judgment in FHC/AI/CS/224/2022, which the Appellants challenged on appeal, was meant to enforce compliance with the earlier judgment in FHC/AI/CS/151/2022 contrary to the argument of the appellants.”

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The court ruled that the appeals were dismissed for proliferation of issues for determination by the appellants which resulted in an incompetent brief of argument.

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