Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has opened discussions with the European Union (EU) Ambassador to Nigeria, Mr. Gautier Mignot, on a strategic €1.3 billion investment portfolio package in the country.
The Federal Ministry of Finance in a post on X (formerly Twitter) on Thursday indicated that the meeting was held on Wednesday in Abuja
According to the post, the Envoy expressed the EU’s position regarding Nigeria as its largest trading partner and a top source of foreign direct investment (FDI), proposing the establishment of a structured trade and investment dialogue framework to enhance collaboration in critical sectors such as infrastructure, green finance, and sustainable development.
The meeting also highlighted the EU’s active €1.3 billion investment portfolio in Nigeria and other recent engagements by the European Bank for Reconstruction and Development (EBRD) and the EU’s Global Gateway Investment Strategy designed to boost infrastructure and sustainable development across Africa.
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The post reads in part: “The meeting spotlighted the EU’s €1.3 billion investment portfolio in Nigeria, recent engagement by the European Bank for Reconstruction and Development (EBRD), and the Global Gateway Investment Strategy aimed at deepening Africa-Europe economic ties.”
Mignot emphasized the EU’s interest in supporting Nigeria’s economic transformation, citing ongoing reforms and the country’s growing trade surplus as positive indicators.
According to him, the EU enhanced cooperation with Nigeria could further accelerate the country’s infrastructure modernization, digital economy, and energy transition goals.
In his response, Edun welcomed the EU’s proposal, reaffirming Nigeria’s commitment to macroeconomic stability, investor-friendly policies, and fiscal consolidation.
The minister also highlighted some key reforms of the government aimed at improving the ease of doing business, including the National Single Window trade facilitation system, tax policy adjustments, and efforts to attract private capital into critical sectors.
Edun also spoke on Nigeria’s GDP growth of 4.6% target by 2025, driven by sustained reforms in the oil and non-oil sectors, as well as strategic investments in agriculture, technology, and manufacturing.
According to the X post, the discussions also featured major infrastructure projects, including the Trans-Saharan Gas Pipeline, which aims to enhance energy exports and regional integration, as well as Nigeria’s push for green finance solutions to support climate-resilient development.
The EU Ambassador and the minister expressed optimism about future collaborations, with Edun maintaining that Nigeria remains open to deeper partnerships with the EU in areas such as digital innovation, agro-industrialization, and renewable energy.
