News
Envoy Says Efforts Ongoing to Lift Nigeria Trade Surplus of $10 billion with Europe Higher
Envoy Says Efforts Ongoing to Lift Nigeria Trade Surplus of $10 billion with Europe Higher
By: Michael Mike
The Europe Union Ambassador to Nigeria, Gautier Mignot has stated that efforts are on to further lift Nigeria’s trade balance of $10 billion surplus as known barriers are in line to be removed.
Mignot said that the expected EU -Nigeria ministers summit is aimed at addressing the trade barriers and other issues.
He said though no date has been fixed for the scheduled summit, he revealed that everyone is looking towards the first quarter of 2026.
He noted that the summit is part of the programmes arranged for 2026.
EU-Nigeria Trade in none oil is in the region of $10 billion in favour of Nigeria.
The ambassador made the revelation during a media chat with the media alongside ambassadors from Czech Republic, Sweden, Poland, Italy, Germany, Finland, France and Portugal.
He said some of the 2026 perspectives: “Hold our EU-Nigeria Ministerial Meeting to advance our relationship across the board”.
He also noted that the EU will “continue the roll-out of the Global Gateway, for example with a planned EU+EBRD support to the BRIDGE project to roll out 90,000 km of optic fibre, but also in renewable energy, climate-smart agriculture.”
He also noted that the EU in the coming year will enhance its support to Nigeria in the area of Peace, Security and Defence, adding that “ with a specific Dialogue to be held early 2026 which might unlock new funding under the European Peace Facility.”
Other things on the table between EU and Nigeria in 2026 according to the envoy include “Negotiate a Science, technology and innovation agreement (the EUMS have approved the negotiation mandate)
“Advance towards a comprehensive partnership on migration and mobility with new funding on the EU side and hopefully the signature of a readmission agreement.
“Organise a business forum to foster trade and investment, in articulation with our Global Gateway strategy.”
The envoy also described as second to none the EU-Nigeria partnership, saying “It is a partnership that delivers for Nigeria and its people and which is acknowledged by our Nigerian interlocutors.
“We proudly are Nigeria’s first trading partner and first market for non-oil and gas exports and Nigeria has a 10 bn USD trade surplus with the EU.”
He also noted that one third of Nigeria’s Foreign Direct Investments stock has come from the EU. “This is not always reflected in statistics because they sometimes take into consideration only our MS individually.
“Now, the EU has a common policy in trade and investment, this is an EU competence and so it’s misleading not to mention the EU a whole, apart from individual performance of MS, in these figures.”
He explained that the first EU-Nigeria Trade and Investment dialogue was held because of the existing barriers and an untapped potential that needed to be exploit.
“Both parties decided to set up dedicated working groups to address this,” he further added.
Mignot stressed that the EU-Nigeria partnership has been based on many assessments and exchange with all kinds of stakeholders and many field visits.
The envoy noted that his visit to 17 states across the six geo-political obe has afforded him first hand experince.
He stressed: “Nigeria is a country facing serious, complex and interlinked challenges but at the same time, it is a country with great potential and some very positive trends.
“As far as challenges are concerned, and to name just a few, the spotlight has been very much on insecurity lately and for good reasons but there are others like poverty and social inequalities.”
He noted EU concern on the need to urgently tackle with humanitarian and life-saving assistance the malnutrition crisis affecting particularly hundreds of thousands of children in NW and NE. “But we also see success and promising development on the macroeconomic front, in the digital sector to mention just one example, and with an incredible entrepreneurial spirit all over Nigeria.
“The FG and many SG we have met are very much trying to encourage this and build upon this entrepreneurial spirit to accelerate growth and sustainable development for all,” he said.
He listed programmes careisd out by the EU to include: “OMI-EKO project launch: a 410M€ project with EU and EIB + France funding (360M€) to create an electric public waterways transportation network in Lagos
“Health investment forum at the end of October (see leaflet) with 41M€ of new projects plus funding and derisking funding schemes for health investments under HDX accelerator
“We launched recently the Nigeria cluster of the Africa-Europe Partnerships for culture, a 30M€ project for Sub-Saharan Africa with a strong West African and Nigerian component. Other cultural projects are also coming to reinforce our action in this sector.”
Besides, the envoy said that the EU “is also actively supporting Nigeria’s fight against insecurity and funding peace-building initiatives across the country. Protecting all populations and in particular minorities and IDPs, is particularly essential. This is what he have done in particular after the Yelwata killing in Benue State in June. In the North, we have launched a Northern package, of some 300M€ of Team Europe funding.
“The EU stands with the populations affected by a humanitarian crisis, particularly children and women in the Northwest and Northeast. While the EU may not fill the vacuum left by those who have withdrawn, Nigeria can count on us as its reliable partners for all times. This year alone, we have committed nearly €50m in humanitarian assistance to address the problem of malnutrition. “
He noted that the EU interest in all this is clear and that is “to help Nigeria (like other West African countries) thrive as a stable, democratic and prosperous neighbour and key partner of Europe. Of course, we also have an economic interest, our companies come to do business and make profit. We are relying now on a strong EUROCHAM which has grown over the year to reach 75 members.”
Envoy Says Efforts Ongoing to Lift Nigeria Trade Surplus of $10 billion with Europe Higher
News
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
By: Michael Mike
The government of Cuba has intensified accusations against the United States over the island’s worsening electricity and economic crisis, while cautiously welcoming reports of a proposed $100 million American aid package amid growing humanitarian concerns.
In separate statements issued this week, Cuban President Miguel Díaz-Canel and government officials argued that the country’s severe power shortages, fuel scarcity, and economic hardship are direct consequences of decades-long U.S. sanctions and what Havana described as an increasingly aggressive “energy blockade.”
The latest developments come as Cuba experiences one of its most difficult periods in recent years, marked by prolonged blackouts, shortages of food and medicine, rising inflation, and mounting public frustration.
Díaz-Canel said the situation affecting Cuba’s National Power System had become “especially tense,” with authorities forecasting a deficit of more than 2,000 megawatts during peak evening demand.
According to the Cuban leader, fuel shortages alone were responsible for preventing the generation of at least 1,100 megawatts of electricity, significantly worsening blackouts across the country.
He accused Washington of deliberately obstructing fuel supplies to Cuba by threatening sanctions and punitive measures against countries and companies willing to trade with Havana.
“This dramatic worsening has a single cause: the genocidal energy blockade that the U.S. has imposed on our country,” Díaz-Canel declared.
The Cuban president argued that recent improvements in electricity supply during April demonstrated the direct relationship between fuel imports and power generation capacity.
He noted that the arrival of a single fuel tanker — out of the eight Cuba reportedly requires monthly — temporarily reduced electricity deficits and mitigated blackouts, though outages did not disappear entirely.
Díaz-Canel further accused sections of the U.S. media and political establishment of attempting to portray Cuba’s economic crisis as solely the result of government mismanagement while ignoring the impact of sanctions and economic restrictions.
According to him, neither the decades-old U.S. embargo nor the additional sanctions imposed during the administration of former President Donald Trump had succeeded in overthrowing the Cuban Revolution.
He alleged that more recent executive measures targeting fuel supplies, foreign trade, and investment in Cuba were specifically designed to increase suffering among ordinary citizens and provoke unrest against the government.
Despite the criticism, Havana has also reacted cautiously to reports that the United States Department of State had formally proposed an aid package valued at $100 million for Cuba.
In a separate government statement, Cuban authorities said it remained unclear whether the proposed assistance would come in the form of direct financial support or material aid such as fuel, food, or medicine.
The Cuban government said it was prepared to consider foreign aid offered in good faith and expressed openness to working with the Catholic Church in implementing humanitarian support efforts.
“We are willing to hear the details of the offer and how it would be implemented,” the statement said, while warning against any attempt to use humanitarian assistance for political leverage.
Havana maintained that the most meaningful support Washington could provide would be the easing of economic, commercial, financial, and energy restrictions imposed on the island.
Cuban officials argued that sanctions had intensified “as never before” in recent months, severely affecting nearly every sector of the economy and worsening living conditions for millions of citizens.
The latest exchange reflects the complicated and often confrontational relationship between Havana and Washington, which has remained strained for more than six decades despite intermittent attempts at diplomatic rapprochement.
While Cuba insists that U.S. sanctions are the central driver of its current crisis, critics of the Cuban government continue to point to structural inefficiencies, state control of the economy, and policy failures as major contributors to the country’s prolonged economic difficulties.
Nevertheless, the apparent willingness of both sides to discuss humanitarian assistance suggests a potentially significant, though cautious, opening for limited engagement amid escalating hardship on the island.
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
News
Troops Arrest Suspected Gunrunner in Taraba State
Troops Arrest Suspected Gunrunner in Taraba State
By: Zagazola Makama
Troops of Operation Whirl Stroke (OPWS), in collaboration with Defence Intelligence Agency operatives and local vigilantes, have arrested a suspected gunrunner in Ardo-Kola Local Government Area of Taraba State.
Security sources said the arrest was made at about 7:45 a.m. on May 13 during an intelligence-led operation at Iware community in the area.
The suspect was reportedly apprehended following credible intelligence linking him to arms trafficking activities within the Amaseyo general area.
Preliminary interrogation revealed that the suspect was allegedly involved in illegal arms dealing, prompting his immediate arrest by the joint security team.
The suspect is currently in custody and undergoing further investigation, while security agencies say efforts are ongoing to dismantle arms trafficking networks operating within the state and surrounding areas.
Troops Arrest Suspected Gunrunner in Taraba State
News
Troops Rescue Kidnap Victim During Patrol in Kogi
Troops Rescue Kidnap Victim During Patrol in Kogi
By: Zagazola Makama
Troops of the Nigerian Army under Operation MESA have rescued a kidnap victim abandoned by suspected terrorists along the Obajana–Jakura–Tajimi axis in Lokoja Local Government Area of Kogi State.
Security sources said the rescue operation was carried out at about 9:00 a.m. on May 13 by troops of 12 Brigade during a fighting patrol along the old Obajana–Jakura–Tajimi road.
According to the report, the troops discovered the victim after suspected kidnappers abandoned him while fleeing from the advancing security personnel.
The rescued victim was subsequently reunited with his family after the operation.
Security patrols and clearance operations have continued along the route and adjoining communities as part of ongoing efforts to combat kidnapping and other criminal activities in the area.
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News1 year agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
