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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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PDP Summons Emergency Meeting As South-East Threatens Exodus

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By Kayode Sanni-Arewa

The National Working Committee (NWC) of the Peoples Democratic Party (PDP) is preparing for a pivotal meeting today to finalize arrangements for the upcoming National Executive Committee (NEC) gathers momentum.

This meeting takes place amid escalating tensions over the party’s national secretaryship, a dispute that has deepened divisions within the PDP.

The crisis has intensified as the South-East zonal caucus has threatened to withdraw from the party unless their nominee, Sunday Ude-Okoye, is officially confirmed for the national secretary role.

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At the heart of the conflict is the leadership tussle between Samuel Anyanwu and Ude-Okoye. Despite a general agreement among PDP governors to replace Anyanwu, who lost the 2023 Imo State governorship election, the matter remains unresolved.

However, a key PDP figure, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, insists that Anyanwu should be allowed to complete his tenure. Wike has even threatened legal action, warning that any communication with the Independent National Electoral Commission (INEC)—including the notice for the NEC meeting scheduled for May 27—must bear Anyanwu’s signature.

The forthcoming NEC meeting, set for May 27, is viewed as a crucial opportunity to address the party’s internal challenges and lay the groundwork for the national convention slated for August.

To help mediate the crisis, PDP governors and stakeholders have formed a seven-member committee, led by former Senate President Bukola Saraki, tasked with finding a resolution.

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Besides tackling the leadership dispute, today’s NWC meeting will also address ongoing security issues at the PDP national secretariat, Wadata Plaza in Abuja. The secretariat has been repeatedly targeted by thugs amid the secretaryship conflict, raising safety concerns among staff, some of whom have requested that meetings be held offsite in the past.

The NWC is expected to consider restructuring the security arrangements to enhance protection. The recent endorsement of acting national secretary Setonji Koshoedo by 83 PDP administrative staff underscores the urgency of resolving these matters.

Sources within the party, speaking to Daily Trust, say the NWC is committed to ensuring the NEC meeting proceeds as planned despite attempts by some factions to obstruct it.

“One faction is still working to block the NEC meeting, but the NWC is focused on getting the process started and making sure the meeting happens,” one source said.

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The source added, “Security concerns are also high on the agenda. The secretariat has been invaded multiple times during the secretaryship dispute. Staff safety remains a serious issue — at one point, even the Board of Trustees had to hold meetings outside the secretariat. The NWC aims to implement a comprehensive security overhaul.”

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SEE Current Black Market Dollar (USD) To Naira (NGN) Exchange Rate

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By Kayode Sanni-Arewa

As of Wednesday, May 14, 2025, the exchange rate for the US Dollar to the Nigerian Naira on the Lagos Parallel Market (commonly referred to as the black market) stands at ₦1,625 for buying and ₦1,630 for selling.

This information is based on data obtained from reliable sources within the Bureau De Change (BDC) community.

It is important to emphasize that the Central Bank of Nigeria (CBN) does not endorse or recognize the black market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to make use of official channels by contacting their respective commercial banks.

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USD to NGN (Black Market) Exchange Rate

Buying Rate ₦1,625

Selling Rate ₦1,630

Official CBN Dollar to Naira Rate – May 14, 2025

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USD to NGN (CBN Rate) Rate

Highest Rate ₦1,600

Lowest Rate ₦1,595

Please keep in mind that the rates listed here are subject to market fluctuations and may vary depending on the location, time of transaction, and volume of currency exchanged.

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Exchange rates are constantly changing due to market dynamics. This article provides indicative rates and should not be considered as financial advice. For the most accurate and up-to-date rates, consult with your bank or a licensed Bureau De Change operator.

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Nnamdi Kanu’s family wants court to ban NAN coverage of son’s trial or allow live streaming

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By Kayode Sanni-Arewa

The family of Nnamdi Kanu has again demanded an outright ban of the News Agency of Nigeria, NAN from coverage of Kanu’s trial on alleged terrorism related crimes over alleged biased reportage.

In the alternative, the aggrieved family asked the court to permit live streaming of trial proceedings to guarantee fairness, transparency and accountability.

A statement signed by Prince Emmanuel Kanu for the Kanu Family, expressed the family “deep concern and outrage over what it called the continuous shameless manipulation of court proceedings by the News Agency of Nigeria (NAN) in the ongoing trial of their son and brother, Mazi Nnamdi Kanu.”

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“It is now beyond question that NAN has abandoned any pretense of professional journalism. They have become the unofficial megaphone of the State Security Services (SSS) and the prosecuting authority, spreading one-sided propaganda, while deliberately ignoring crucial courtroom developments that dismantle the Government’s case.

“Today’s distortion is a case in point. Instead of reporting on the damning cross-examination of government witness PW-BBB—who embarrassingly admitted that no investigation report exists to support the charges against Mazi Nnamdi Kanu, NAN chose to publish a useless story about a death certificate.

This document has zero evidentiary relevance, and its tendering was clearly a diversionary tactic to cover up the implosion of the prosecution’s case.

See also Ministerial appointment: Ignore detractors and clear Ondo nominee, groups urge Senate
“We find it unacceptable and improper that NAN is given exclusive access to report court proceedings—particularly when their reports serve only to mislead the public and undermine judicial transparency.

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“We therefore call on Justice James Omotosho to immediately ban the News Agency of Nigeria (NAN) from further courtroom access in this matter for repeated, unethical conduct and biased reporting;

” In the alternative, the court should permit live streaming of the trial proceedings to guarantee fairness, transparency, and accountability.

“Furthermore, we reject the spin being spread regarding DSS allegedly denying Kanu Agabi SAN access to Mazi Nnamdi Kanu.

What occurred in court today was a moment of statesmanship by Kanu Agabi SAN—a respected legal elder, former Senator, Attorney-General, and Minister of Justice—who chose not to expose the DSS’s misconduct openly to save the court and its officers from scandal. His restraint should not be misrepresented by a discredited press agency.

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“This trial is not just about Mazi Nnamdi Kanu—it is a test of the integrity of the Nigerian judiciary, the independence of the media, and the rule of law in a democracy. Continued distortion of proceedings can only serve to deepen national division and erode public trust.

The eyes of the world are on Nigeria. Let justice be done—openly and without propaganda” the family said.

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