During the 9th edition of the Nigeria-EU Business Forum in Abuja, European Union Ambassador to Nigeria and ECOWAS, Samuela Isopi, announced that the Federal Government has successfully settled a backlog of debts amounting to $850 million owed to European airlines.
Isopi commended the government’s intervention in clearing these debts and highlighted the recent removal of foreign exchange restrictions on the import of forty-three items as further positive steps.
Isopi emphasized Nigeria’s significant role as the EU’s largest trading partner, citing trade relations amounting to 35 billion Euros in the past year. She also noted that Nigeria stands as the EU’s largest foreign investor, with investments totaling 26 billion Euros, which represents one-third of Nigeria’s foreign direct investment.
Moreover, Isopi highlighted the presence of over 230 EU companies operating in Nigeria, contributing to job creation particularly among youths and women. The forum, themed ‘Investing in Jobs and Sustainable Future,’ aims to foster dialogue between the public and private sectors, emphasizing government support for businesses to achieve inclusive development.
The event was attended by notable figures including EU Director General Myriam Ferran, Minister of Budget and National Planning Atiku Bagudu, and Permanent Secretary at the Ministry of Industry, Trade and Investment Nura Rimi
