EU, FG to collaborate on infrastructure development to drive investment in energy sector

The European Union (EU) says it is working with the federal government of Nigeria to improve the country’s infrastructure and its economy.

Samuela Isopi, EU ambassador to Nigeria and Economic Community of West African States (ECOWAS), said this on Tuesday at a press briefing in Lagos.

Isopi said the EU was collaborating with the federal government to improve critical infrastructure and overcome security challenges to attract investments into key sectors of the economy.

She added that key areas of the economy such as oil and gas, and agriculture are being focused on for investments.

“We are working to support the government to address security challenges in the area of farmers/herder clashes, oil bunkering, and others,” she said.

“Nigeria needs to create the appropriate environment to attract investments in several sectors of the economy.

“We want to wean ourselves from dependence on gas from Russia. By continuing to buy gas from Russia, we will continue to support their economy.

“We are reaching out to the Nigerian government and other African countries as alternatives.

“But we are confronted by the issues of inadequate infrastructure, vandalism, banditry, and kidnapping. That’s why we are collaborating with the Nigerian government.”

Isopi also described the EU bloc as Nigeria’s biggest trading partner.

She added that the EU accounted for 25.4 percent of Nigeria’s exports to the global market, and was Nigeria’ssecond-largestt import destination, accounting for 16.1 percent of the country’s total imports.

The ambassador said the commission was Nigeria’s first partner in foreign direct investment (FDI), thereby, contributing to the country’s economic growth, job creation, and wealth generation.

Speaking further on the forthcoming 8th EU-Nigeria business forum, Isopi said all issues hindering investments in Nigeria would be tackled.

The forum, to be tagged ‘Nigeria and the New Economy,’ would be held in Lagos from June 30 to July 1.

According to her, business leaders and government officials from Nigeria and Europe will seek to identify new opportunities to unlock the Nigerian economy towards win-win outcomes for Nigeria and Europe at the forum.

“This year’s event will focus on three key sectors: backward integration policy of the Nigerian government, opportunities to increase gas exports to Europe, and new initiatives in the agricultural sector,” she added.

“While these sectors are not new, the potential in them remains largely untapped.

“During the 8th EU-Nigeria Business Forum, discussions will aim to identify the causes of these hindrances and explore how these opportunities can be unlocked for the mutual benefit of Nigeria and Europe.”

On her part, Inga Stefanowicz, team lead, Green and Digital Economy, EU Delegation to Nigeria, and ECOWAS, said the EU’s objective was to support smallholder farmers in rural communities in Nigeria.

“We have to drive the issue of quality, making their produce exportable. We would like to have an increase in trade, exporting agricultural products that have value addition,” she said.

“We are already involved in this; looking at smallholder farmers, and how we can link them to the markets. To have goods of the quality that can be exported, and also of high quality for consumption in the local market.

“We believe that this can create jobs and empower many families, especially young Nigerians.”