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Nigeria/EU trade volume hits €45b

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Nigeria/EU trade volume hits €45b

By: Michael Mike

Latest statistics has shown that Nigeria and European Union trade volume has grown to €45 billion.

The statistics showed that this was the case as at September 2023, even as the
United Nations COMTRADE database indicated that Nigeria remains EU largest trade partner, accounting for 20.9% of Nigeria’s global trade.

The EU is made up of 28 European countries, though there are 50 countries considered European.

The Deputy Speaker, House of Representatives, Benjamin Kalu during the celebration of 2024 European Day in Abuja on Thursday night said the value of trade between Nigeria and the EU has increased consistently, demonstrating the
potential for even greater collaboration.

Kalu while disclosing that Nigeria is prepared to provide an encouraging environment for investment, said: “The European Union is one of our most significant trading partners, and our economic ties have grown steadily.

“The value of trade between Nigeria and the EU has increased consistently, demonstrating the potential for even greater collaboration.”

Kalu while quoting the United Nations COMTRADE database, added that “as of September 2023, the EU’s bilateral trade with Nigeria has surpassed €45 billion.

“The EU is Nigeria’s largest trading partner, accounting for 20.9% of Nigeria’s
global trade.”

He assured EU that: “As we look to the future, Nigeria is committed to engendering an environment encouraging investment and trade with our European
partners.

“We recognize the vital role that
European businesses play in our economic development, and we welcome
continued investment in ourindustries, infrastructure, and technology
sectors.”

He equally, commended the cultural exchange between both parties, saying “Europe is a source of rich history, art, and
innovation, while Nigeria is a vibrant hub of diverse cultures and traditions.

“By having cultural exchanges, we build bridges of understanding that
transcend geographical boundaries.

“I am pleased to see that more
European cultural events are being held in Nigeria and that Nigerian
artists, musicians, and scholars are gaining recognition in Europe.

“These exchanges contribute to a more harmonious and interconnected world.”

The Deputy Speaker also commended the EU for it support to the country, especially in the area of education, healthcare,
digital economy, agriculture, security, and governance.

He noted that: “The European Union (EU) is supporting Nigeria’s digital transformation with a €820 million
investment through its Global Gateway initiative.

“This investment includes €160million in grants and €660million in loans.

“The EU is also supporting
Nigeria’s digital future through the AU-EUD4D Hub, a project that helps
African institutions create an enabling environment for a sustainable digital
transformation.

“Further more, the European Union has initiated several projects aimed at
promoting climate-smart agriculture and advancing Nigeria’s green transition.

“The GENESII: Mobility for Plant Genomics Scholars to Accelerate Climate-Smart Adaptation Options and Food Security in Africa II, is designed to foster academic exchange and research in plant
genomics, enhancing Africa’s adaptation to climate change and promoting
food security.

“The Small Hydro Power Development for Agro-industry Use (SHP-DAIN) project promotes the use of small-scale hydro power to boost agro-industrial production.”

He stressed that the EU’s commitment to the Climate-Smart Agriculture for Development Programme “underlines its support for climate-smart, innovative agriculture with an improved agribusiness climate and equitable participation of women and youth.”

He also said: “Beyond these projects,
the EU has also demonstrated its commitment to security and peace in the
Lake Chad region, mobilizing €2.5 billion since 2014 to support stabilization, peace, and security initiatives.

“This extensive support highlights the EU’s dedication to sustainable development and enhancing the quality of life for Nigerians”.

Kalu said: “As the Deputy Speaker of Nigeria’s House of Representatives, I believe in the importance of strengthening our democratic institutions and promoting
good governance.

“Europe has been a valuable partner in this regard, offering support and guidance as we work to uphold the principles of
democracy and the rule of law.”

In her remarks, Head of EU delegation to Nigeria and ECOWAS, Ambassador Samuela Isopi said Nigeria remains a strategic partner to EU.

Isopi said EU cooperation with Nigeria tops global rankings whether in the energy and climate, digital, innovation, health or entrepreneurship areas.

She also said EU is targeting critical private and public investment in Nigeria.

Isopi also assured Nigeria of EU support in the efforts at ensuring democratic rules in the West African region.

She noted that: “A year ago, we met to celebrate Europe Day on the eve of the inauguration of the new administration in Nigeria and the start of a new chapter in our partnership. Since then, the joint visit of EU International Partnerships and Energy Commissioners, Jutta Urpilainen and Kadri Simpson, in October last year for the EU-Nigeria Strategic Dialogue, positioned Nigeria as a primary partner for the European Union.

“By now, EU cooperation with Nigeria tops global rankings whether in the energy and climate, digital, innovation, health or entrepreneurship areas. This is further amplified by our joint work with EU Member States and EU financial institutions (such as the European Investment Bank) as Team Europe, which combines our strengths across most areas of cooperation.

“In line with the Global Gateway strategy, EU cooperation is now targeting critical public and private investments, thereby providing the necessary instruments to make such investments viable and sustainable. In the health sector, besides continuous support to public actors at federal and state level, our support includes the mobilisation of public and private sectors investors towards increased local manufacturing of vaccines and other health products. “

On the coming Nigeria/EU Business Forum on July 2nd in Abuja, Isopi said it will bear witness to progress made and raise our ambition for the years to come.”

Adding, “As we increasingly focus on investments, our support to migration, governance, peace and security will continue unabated. This support reflects the fundamental values and challenges that bind the EU and Nigeria, such as the rule of law, democratic governance and protection of fundamental rights.

“In that regard, we believe that the position – and empowerment – of women and youth in today’s Nigeria deserves our collective attention. “

On the political front, the envoy said “While working with the National Assembly, Government at Federal and State level, we remain strong advocate and supporters of the need for a vibrant civil society, which provides a unique opportunity to promote change and accountability.

“Since we last met to celebrate Europe day, West Africa has gone through one of the most difficult times in its history.

“The EU continues to stand by Nigeria, by its regional partners and by ECOWAS and remains committed to supporting the region in building a community for the people.”

Nigeria/EU trade volume hits €45b

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Nigeria, Japan Move to Set Up Industrial Hub to Unlock Investment

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Nigeria, Japan Move to Set Up Industrial Hub to Unlock Investment

…Abuja seeks Japanese capital, technology transfer as Tokyo promises faster visa processing

By: Michael Mike

Nigeria is seeking to establish a joint industrial and investment hub with Japan to attract foreign capital, accelerate technology transfer and position local businesses to tap into Japanese supply chains and the wider African market.

The proposal, put forward by the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, signals Nigeria’s push to turn 66 years of diplomatic relations with Japan into a stronger economic partnership driven by investment, industrialisation and job creation.

Odumegwu-Ojukwu made the proposal during a bilateral meeting with Japan’s Ambassador to Nigeria, Suzuki Hideo, urging Tokyo to work with Nigeria on a practical roadmap for the proposed Nigeria–Japan Industrial and Investment Hub.

The initiative is expected to facilitate joint ventures, connect investors with credible Nigerian businesses, promote skills development and encourage Japanese companies to establish stronger industrial links with Africa’s largest economy.

The minister stressed that existing bilateral agreements must translate into concrete investment commitments and measurable development outcomes, rather than remain diplomatic declarations.

“The outcomes of the Forum must be translated into concrete programmes, investment commitments and measurable development outcomes,” she said.

She urged both countries to implement the agreements reached at the 10th Nigeria–Japan Special Partnership Forum, held in Abuja on August 27, through practical programmes and regular consultations between their foreign ministries.

To strengthen private-sector participation, Odumegwu-Ojukwu called for more partnerships between Nigerian and Japanese companies through joint ventures, local content development, skills transfer and the integration of Nigerian businesses into Japanese supply chains.

She also sought greater engagement by the Japan External Trade Organization (JETRO) to link Japanese investors with Nigerian enterprises and public-sector partners.

Beyond manufacturing and trade, Nigeria is seeking Japanese investment in solid minerals, gas development, cleaner energy technologies and industrial decarbonisation, with the minister highlighting the strategic importance of resilient energy and critical-mineral supply chains.

The proposed investment push comes alongside Japan’s development cooperation in infrastructure, healthcare, agriculture, education and technical training through the Japan International Cooperation Agency (JICA).

Odumegwu-Ojukwu welcomed a $10 million JICA-supported initiative to strengthen Nigeria’s startup ecosystem through catalytic capital and institutional development, in partnership with the Nigeria Sovereign Investment Authority.

She also called for sustained Japanese support for peacebuilding, humanitarian assistance and stabilisation in Nigeria and West Africa, reaffirming Nigeria’s commitment to regional stability through the African Union and the Economic Community of West African States.

On mobility and business exchanges, the minister urged continued dialogue to resolve visa-related challenges affecting businesspeople, students, researchers, government officials and tourists.

Responding, Suzuki said Japan was desirous of deepening cooperation with Nigeria, which he described as a strategic African giant.

He also assured that visa-related issues would be handled expeditiously, an undertaking that could help facilitate business and people-to-people exchanges between the two countries.

Odumegwu-Ojukwu said the existing cordial relations between Nigeria and Japan offered an opportunity to build a more dynamic partnership anchored on investment, industrialisation, technology transfer and shared prosperity.

The renewed engagement comes as both countries seek to move beyond decades of diplomatic relations towards stronger commercial ties, with the proposed industrial hub emerging as a potential platform for converting bilateral goodwill into investments and economic opportunities.

Nigeria, Japan Move to Set Up Industrial Hub to Unlock Investment

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Cuba Accuses US of Pressuring Nations Ahead of UN Vote on Blockade

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Cuba Accuses US of Pressuring Nations Ahead of UN Vote on Blockade

By: Michael Mike

Cuba has accused the United States of mounting a campaign of diplomatic pressure against countries supporting calls for an end to its decades-long economic blockade, alleging that Washington is seeking to influence the outcome of an impending United Nations General Assembly vote.

Cuba’s Permanent Representative to the United Nations, Ernesto Soberón Guzmán, made the allegation on Friday while condemning a US-organised event scheduled for October 19 at the UN headquarters in New York, which he described as an attempt to divert international attention from the debate on the blockade.

The Cuban diplomat alleged that the event, titled “Cuba Libre”, was part of a broader effort to weaken support for a Cuban-sponsored resolution calling for an end to the economic, commercial and financial restrictions imposed by Washington. The resolution is scheduled for consideration by the General Assembly on October 27 and 28.

Speaking to UN-accredited journalists, Soberón accused the US of using political and diplomatic pressure to influence the positions of member states ahead of the vote, including alleged direct appeals by Secretary of State Marco Rubio to heads of state and government.

He described the reported contacts as an attempt to interfere with the sovereign decisions of UN member states, insisting that countries should be allowed to determine their voting positions without intimidation.

The diplomat also questioned the format of the October 19 event, citing restrictions on press access, the non-disclosure of panellists’ identities and a prohibition on attendees expressing their views.

He argued that the arrangements suggested an attempt to control the narrative rather than facilitate an open exchange of perspectives on Cuba.

Soberón said the Cuban delegation had obtained copies of the invitation and concept note despite not being invited to the event.

He further questioned the use of UN premises for an activity he alleged was designed to advance Washington’s political objectives against another member state, citing administrative instruction ST/AI/2019/4 on the use of UN premises and the need for activities to comply with the principles of the UN Charter.

The Cuban representative also accused Washington of applying a double standard by organising the event while having outstanding contributions to the UN’s regular budget.

Beyond the diplomatic dispute, Soberón drew attention to the economic consequences of US sanctions, particularly measures affecting Cuba’s fuel supplies and international trade.

He recalled that US President Donald Trump signed an executive order on January 29, 2026, introducing measures targeting countries supplying oil to Cuba, which he blamed for a sharp decline in fuel shipments to the island.

According to figures he presented, Cuba had received only one oil tanker from Russia in the preceding 10 months, describing the shipment as humanitarian assistance.

He also claimed that approximately 7,000 containers destined for Cuba remained at international ports because shipping companies were reluctant to transport them over fears of possible US sanctions.

Soberón linked the difficulties to further measures announced by Washington on May 1, 2026, which he said expanded the threat of sanctions against companies and countries maintaining commercial relations with Cuba.

He criticised the US-organised event for failing to address the reported impact of the restrictions on the Cuban economy and the living conditions of its population.

The Cuban government has consistently opposed the US embargo, which has remained a major point of contention between the two countries and has repeatedly featured in General Assembly debates.

Soberón maintained that the October 19 event should not distract the international community from the substantive question before the General Assembly: whether the United States should end its economic, commercial and financial blockade of Cuba.

He urged UN member states to uphold the principles of the UN Charter, resist political coercion and exercise their voting rights independently.

The United States has historically defended its Cuba policy on grounds including concerns over the island’s political system and human rights record, while Havana argues that the sanctions violate its sovereignty and impose severe economic hardship on its people.

The forthcoming General Assembly debate is expected to renew international scrutiny of the longstanding dispute.

Reaffirming Havana’s position, Soberón said Cuba would not change its stance because of external pressure, adding: “Cuba is not a threat. The blockade is.”

Cuba Accuses US of Pressuring Nations Ahead of UN Vote on Blockade

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Uphold the Four Principles toPromote Lasting Peace and Stability in Africa

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Uphold the Four Principles to
Promote Lasting Peace and Stability in Africa

By Yu Dunhai, Chinese Ambassador to Nigeria

The world is undergoing accelerated changes unseen in a century, with profound shifts in the international balance of power. Africa’s peace and development face both new opportunities and challenges.

On the one hand, African countries’ sense of independence continues to grow, and their desire for unity, self-reliance and improved livelihoods is stronger than ever.

On the other hand, hotspot issues on the continent persist and recur, deeply affecting the people of the region. These issues have complex causes. Resolving them and settling disputes requires building consensus and pooling collective strength.
Recently, when meeting with President Faure Gnassingbé of Togo, Chinese President Xi Jinping put forward four principles for constructive participation by all parties in resolving African hotspot issues: upholding African leadership, safeguarding equity and justice, ceasing hostilities and building peace as well as addressing both symptoms and root causes.

These principles provide clear guidance for tackling hotspot issues in Africa and exploring a path toward lasting peace and stability. They fully demonstrate China’s understanding of and support for Africa’s efforts to carry forward Pan-Africanism, independently safeguard peace and security, and redress historical injustices. As Chinese Ambassador to Nigeria, I would like to share my understanding of these four important principles.

First, we must uphold African leadership. President Xi Jinping pointed out that the African people are the true masters of the continent and should therefore play a central role in regional affairs.

China supports African countries, the African Union and sub-regional organizations in upholding self-confidence and self-reliance, pursuing unity and development, and drawing on African traditions and wisdom to effectively address the various challenges facing the continent.

History has repeatedly shown that externally imposed “prescriptions” often fail to suit local conditions. Only by respecting Africa’s independent choices and listening to African voices can lasting and effective solutions be found. China adheres to the principle of sincerity, real results, amity, and good faith in its relations with Africa. It never interferes in Africa’s internal affairs, never imposes its will on others, and always respects the principal role of African countries and peoples.

China firmly practices the approach of “African solutions to African problems.” As Africa’s most populous country and an important member of ECOWAS, Nigeria has long worked to maintain stability in West Africa and has demonstrated the responsibility of a major country in mediating regional disputes, combating extremism, and building regional consensus.

China highly appreciates these efforts and will, as always, support ECOWAS and other sub-regional organizations in playing an important role in mediation and good offices.

Second, we must safeguard equity and justice. President Xi Jinping stressed that parties involved should observe the purposes and principles of the UN Charter, respect the sovereignty and territorial integrity of the countries concerned, practice true multilateralism, uphold a vision of common, comprehensive, cooperative and sustainable security, take into account the legitimate concerns of all sides, and seek fair and reasonable solutions.

Equity and justice are basic norms of international relations and a shared aspiration of African countries. Applying double standards in regional affairs, frequently interfering in internal affairs, or imposing external will only create new instability and ultimately undermine lasting peace.

Safeguarding territorial integrity and sovereignty and combating terrorism are matters within the sovereign rights of African countries. The international community should respect the independent choices of African nations and provide constructive support and assistance on the premise of respecting the countries concerned.

China firmly supports the African people in all their legitimate efforts to safeguard national sovereignty, security, and development interests, and opposes any attempt to interfere in the internal affairs of African countries under the pretext of hotspot issues.

Third, we must cease hostilities and build peace. President Xi Jinping noted that war and unilateral sanctions are never solutions to disputes between countries. Dialogue and consultation are the right way forward.

We should leverage platforms and mechanisms led by the Global South, such as the International Organization for Mediation, to engage in mutual respect and extensive consultation, seek common ground while reserving differences, and pursue mutual understanding and accommodation.

At present, the security situation in the Sahel and Lake Chad regions remains complex and severe. Countries in these areas face multiple security challenges, including terrorism, extremism, and cross-border crime, with various risks intertwined and compounding one another. No single country can address these challenges alone; greater cooperation and consensus among all parties are needed. China firmly supports the UN Security Council and the international community in upholding an objective and impartial stance, actively encouraging talks and conducting mediation on African hotspot issues.

China supports regional countries in bridging differences and building synergy through dialogue and consultation, jointly strengthening the barriers of regional peace and security, and creating a favorable environment for Africa’s stability and development. China stands ready to provide support within its capacity to African countries in enhancing peacekeeping and counter-terrorism capacity-building through the implementation of the Global Security Initiative.

Fourth, we must address both symptoms and root causes. President Xi Jinping emphasized that addressing immediate security concerns should go hand in hand with long-term development planning.

China stands ready to continue sharing the new opportunities of Chinese modernization with African countries, advance cooperation in agriculture, industry, poverty reduction, green development, science and technology, and other fields, support the sustainable development of regional countries, and enhance exchanges and mutual learning among civilizations, so as to lay a solid foundation for lasting peace.

China has always held that development is the master key to solving all problems. Security and development are mutually reinforcing and inseparable. Without a stable security environment, development is impossible. Without sustainable development, the foundations of security will remain fragile.

Nigeria is an important African economy with a large population and a wealth of young people. Accelerating industrialization is both an urgent developmental need and a fundamental guarantee of lasting peace and stability. China is ready to help Nigeria and Africa advance industrial transformation and the process of industrialization and modernization through concrete cooperation, achieving security through development and peace through cooperation.

Africa is a continent full of hope. Its future should and will be written by the African people themselves. China and Africa are good partners, good friends, and good brothers who share weal and woe. No matter how the international landscape changes, China will always stand firmly with Africa. Standing at a new starting point in building a China-Africa community with a shared future in the new era, China will continue to work with Nigeria and other African countries to firmly implement the four principles, actively promote the political settlement of hotspot issues in Africa, continuously deepen practical cooperation in various fields, jointly strengthen security barriers and unlock development momentum, and write a new chapter of peace, development and win-win cooperation on the African continent.

Uphold the Four Principles to
Promote Lasting Peace and Stability in Africa

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