New investment commitments exceeding €200 million were announced at the 10th edition of the EU-Nigeria Business Forum, as government officials, development finance institutions, and private-sector leaders gathered to deepen economic cooperation and unlock sustainable investment opportunities in the country.
The event held in Lagos focused on strengthening trade and investment ties between Nigeria and the European Union while exploring opportunities in high-performing sectors, including agriculture, energy, infrastructure, manufacturing, healthcare, and skills development.
Among multiple investment announcements was a financing package of over €200 million from the European Investment Bank (EIB) to support projects in both the public and private sectors. The investments included financing for the waterways transportation in Lagos, climate adaptation and erosion control initiatives, digital agriculture programmes, and a 15 million Naira loan facility for Wema Bank to support small and medium enterprises. Additional funding will support the expansion of cocoa and dairy value chains. A major exporting cash crop in the country.
The Dutch development bank also unveiled a new ₦20 million programme to be implemented in Nigeria by EDFI Management Company (EDFI MC). William Barault, portfolio manager at the company, revealed that the initiative will combine European blended finance instruments under the Global Gateway and Team Europe frameworks to mobilise investments in agribusiness and rural electrification.
Healthcare was another focus area at the event, with the European Union and Germany’s Federal Ministry for Economic Cooperation and Development announcing continued investments to strengthen outbreak preparedness, response systems, and health sector resilience in Nigeria.
Speaking during the forum, the European Union Ambassador to Nigeria, Ambassador Gautier Mignot, highlighted the growing significance of the EU-Nigeria economic partnership, describing recent developments under the Global Gateway strategy as a catalyst for increased cooperation and investment.
He pointed out the expanding activities of the European Investment Bank and the operations of the European Bank for Reconstruction and Development (EBRD) in Nigeria, announcing the country as the 77th shareholder of the bank. An opportunity that has unlocked new opportunities for businesses and investors.
“One important consideration is the need for early-stage investment that supports the uptake of EU-Africa and EU-Nigeria research and innovation projects. This will bridge the gap between research results and market deployment. An approach that aligns with the objectives of Horizon Europe’s Knowledge Valorisation Ecosystems,” Margherita Trestini, General Manager, Apodissi, noted.
The European Union has supported initiatives that bring research outcomes closer to market uptake and commercialisation, and Apodissi has seen the potential of this approach through projects like the Horizon Europe project, PrAEctiCe and an ongoing project, GH-SAFE.
Further discussion at the forum highlighted the importance of agriculture, manufacturing, energy, infrastructure, and technology as priority sectors for future investment, noting that agriculture alone accounts for about 31 per cent of Nigeria’s Gross Domestic Product and remains a critical sector for economic transformation.
A fireside discussion on private sector investment opportunities highlighted the European Union’s position as Nigeria’s largest trading partner, accounting for 31.7 per cent of the country’s total trade. The need to increase foreign direct investment in the country was raised. This financial instrument was identified as the lowest source of investment in a presentation by Laura Mensah from the survey conducted by the European Business Chambers, Nigeria Eurocham
Hon. Dr Jumoke Oduwole, Ministry of Industry, Trade and Investment, emphasised the need for greater policy consistency, improved investment facilitation mechanisms, and the development of bankable projects that could attract a higher level of foreign direct investments.
In addition, public-private partnerships, regulatory reforms, and investment facilitation measures, including the National Single Window, the Business Facilitation Act 2023, and the One-Stop Investment Centre, were extensively discussed.
Hon.Barrister Dele Oye, Chairman, Alliance for the Economic Research and Ethics (AERE), noted that while Nigeria has introduced several investor-friendly reforms, implementation and stronger engagement with the private sector will be critical to translating policy ambitions into measurable economic outcomes.
