International
Nigeria/EU trade volume hits €45b

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
International
UK Reaffirms Commitment Towards Economic Growth, Sustainable Development Across Nigeria

UK Reaffirms Commitment Towards Economic Growth, Sustainable Development Across Nigeria
By: Michael Mike
The United Kingdom has reaffirmed its commitment to supporting inclusive economic growth and sustainable development across Nigeria as the country
navigates rising energy costs and the growing urgency of the climate crisis,
The British Deputy High Commissioner, Mr. Jonny Baxter made the commitment on Wednesday at his residence in Lagos in a statement at the second edition of W.O.M.A.N by Alitheia, a high-level forum for Women in Manufacturing, Agribusiness, and Nutrition and key stakeholders, hosted by Alitheia Capital, a pioneer in gender-lens impact investing private equity firm, in collaboration with Manufacturing Africa, a UK government programme focused on attracting Foreign Direct Investment into the manufacturing sector.

Themed “Scaling Sustainable Manufacturing & Energy Transition for Women-led SMEs in Africa,” this year’s edition brought together a dynamic mix of industry leaders, women entrepreneurs, investors, policymakers, and energy solution providers to explore the pivotal role of women-led businesses in Africa’s sustainable industrial transformation.
The discussions, according to a statement by the British High Commission in Nigeria. addressed the acute pressures SMEs face amid surging fuel prices and electricity tariffs – conditions that have made sustainable energy adoption both an environmental and economic imperative. Insights from Alitheia’s own portfolio reveals that adopting renewable energy can cut operational costs by as much as 60%, underscoring the financial viability of clean energy for scaling women-led businesses.
Participants examined practical pathways for women entrepreneurs to access clean energy solutions, scale sustainable manufacturing practices, and contribute meaningfully to Africa’s green economy.
In his remarks, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter stated: “We are proud to collaborate with Alitheia Capital on W.O.M.A.N. (Women in Manufacturing, Agribusiness, and Nutrition) to drive Africa’s green industrial future. We recognise the indispensable role of women in this transition and are committed to expanding access to capital and capability to ensure sustainable growth. This event reflects our shared vision for inclusive and transformative development, and we are committed to supporting this journey through targeted investments and strategic private partnerships.”
Also speaking, Co-Founder and Managing Partner at Alitheia Capital, Tokunboh Ishmael said: “We are no longer just talking about sustainability as a nice-to-have. It’s an economic imperative, especially for women entrepreneurs at the heart of Nigeria’s industrial transformation and through W.O.M.A.N by Alitheia, we’re not only spotlighting solutions—we’re scaling them. In our own portfolio, we’ve seen up to a 60% reduction in energy costs among businesses that have adopted clean energy. This is proof that green transition is not only possible but profitable.”
The event also featured keynote addresses and panel discussions with industry leaders including Yemisi Iranloye (CEO, Psaltry), Affiong Williams (CEO, ReelFruit), Temilola Adepetun (Managing Director, SKLD), James Fabola (CFO, Arnergy Solar), Bukola Badmos (Executive Director & CFO, Starsight Energy), and Sarah Ogbewey, (Head, Strategic Partnerships, Renewable Energy & Mobility, Sterling Bank).

Alitheia Capital also launched Nzinga, its SME capacity-building platform designed to equip entrepreneurs with tools for scaling their businesses sustainably. In parallel, Manufacturing Africa unveiled its Green Business Building (GBB) accelerator, which will drive the growth of green businesses through strategic support on core business problems, leading to the development of an ecosystem for green manufacturing and green jobs in Nigeria.
The day closed with an ESG knowledge session, exhibitions from green energy and manufacturing solution providers, and a resounding call to action: expand access to capital, strengthen ecosystems, and enable policy that supports inclusive green industrialization.
UK Reaffirms Commitment Towards Economic Growth, Sustainable Development Across Nigeria
International
French Government Calls for Collaboration to Protect Oceans for Plastic Threat

French Government Calls for Collaboration to Protect Oceans for Plastic Threat
By: Michael Mike
The French government wants Nigeria, the rest of Africa and the global community to mobilise resources, policies and collaboration to protect the oceans from the dangers of plastic waste.
The French Deputy Ambassador to Nigeria,
Jean-François Hasperue, made the call on Wednesday in Abuja during a plastic waste awareness programme at the French Institute.
Hasperue said the call for a united front to tackle the challenge became necessary because plastic waste has become one of the most pressing environmental crises facing the globe, with oceans bearing the brunt of the escalating threat.
The envoy explained that from floating debris to microplastics embedded in marine organisms, the evidence of damage on the oceans has been overwhelming.
He said: ‘’Our panellists were explaining that the microplastics that are eaten by fish in the lagoon of Lagos might be eaten by people in Asia because fish have been taken by foreign boats and sold everywhere in the world. So yes, it’s a global issue that we need to address. And there is one specific issue, of course, we decided to address within the UN conference in Nice, is the one of biodiversity beyond national jurisdictions.
“Because it has been for too many years, a gap in which we have not been able to raise cooperation among countries to save these biggest parts of the oceans. And I expect that we will announce that we have reached the 60 signatories for ratification by the end of this week. So the BBNG will be able to be implemented starting the 1st of January 2026.”
According to Mr Hasperue, the French government is raising awareness in Nigeria particularly in Nigerian universities as part of global strategy to build capacity of students and also to rally support for empowering global local communities.
He said: “We are part of a global strategy of France, because of course we would like to act at different level. We act first globally, and that’s why we decided to welcome the UN Conference on Ocean, which is actually happening in Nice from the June 9th to the 13th this very week. And that’s why in the wake of this global conference, we wanted here in Nigeria and in Abuja to organise at our level a debate, but not only a debate here, but activities all over the month of June.
“And we had not less than 11 activities happening in six different states in Nigeria, first of all to raise awareness in Nigeria, but also to rally support for empowering global local communities.”
Hasperue underscored the importance of the UN Ocean Conference to addressing the dangers of plastic waste on oceans, noting that awareness creation remains very critical to ending the menace.
He added that: “We have to take into consideration that plastic, although it has been a solution at some point of history, that it has been now so massive, so huge, that it has become a problem. So now we have to better think how to better produce plastic, how to make sure that plastic is better recycled, and how we make sure that it will less affect all life all over the world.
They are part of a global strategy by France to not only act at the global level, but also at the level of the communities. So we have a double approach, top down, but also a bottom up, to make sure that we create the link between what we are doing on the global stage to raise awareness, but that it has a translation down to the local communities. In every country we are working with the governments and civil society organisations.”
The Deputy French Ambassor to Nigeria stressed that the French government is helping Nigerian universities with recycling plastic and micro plants as well as funding of projects in the universities.
He said: “We have a fund of 750,000, 100,000 euros now, which is about helping universities in recycling plastic. So within this project, we have two micro plants that will be given to Nile University and UNILAG to recycle plastic within the universities. We are also funding a project in five different universities.”
Similarly, Sebastien Bede, the Attaché for Scientific and Higher Education Cooperation at the French Embassy, pointed out that the French government has been cooperating with Nigerian partners to develop projects and implement solutions to plastic waste.
‘’So we have this project we call the French Embassy Fund to actually develop and implement solutions to tackle plastic pollution in Nigerian university campuses. And the idea is threefold. First, as previously the Deputy Ambassador said, to equip two universities here in Nigeria, UNILAG, Nile University in Abuja, with microplants to recycle plastic.
This comes with capacity building, with Plastic Odyssey, to train the staff and develop integrated solutions, which goes from collecting the plastic on the campus, sort it out, clean it, grind it, and then the final product. So we have the input and the output. So there’s been a collective reflection on what is the need here in Nigeria on the campuses.
About 17 Nigerian university students were awarded for their efforts in turning plastic waste to viable economic ventures.
French Government Calls for Collaboration to Protect Oceans for Plastic Threat
International
OP-ED: “A RESCUE PLAN FOR SUSTAINABLE DEVELOPMENT”

OP-ED: “A RESCUE PLAN FOR SUSTAINABLE DEVELOPMENT”
By: Michael Mike
This month, leaders will gather in Sevilla, Spain, on a rescue mission: to help fix how the world invests in sustainable development.
The stakes could not be higher. A decade after the adoption of the Sustainable Development Goals and many global commitments to finance them, two-thirds of the targets are lagging. And the world is falling short by over $4 trillion annually in the resources developing countries need to deliver on these promises by 2030.
Meanwhile, the global economy is slowing, trade tensions are rising, aid budgets are being slashed while military spending soars, and international cooperation is under unprecedented strain.
The global development crisis is not abstract. It is measured in families going to bed hungry, children going unvaccinated, girls being forced to drop out of school and entire communities deprived of basic services.
We must correct course. That begins at the Fourth International Conference on Financing for Development in Sevilla, where an ambitious, globally supported plan to invest in the Sustainable Development Goals must be adopted.
That plan should include three essential elements.
First, Sevilla must help accelerate the flow of resources to the countries who need it most. Fast.
Countries must be in the driver’s seat, mobilizing domestic resources by strengthening revenue collection and addressing tax evasion, money laundering and illicit financial flows through international cooperation. This would provide much-needed resources to prioritize spending on areas with the greatest impact such as education, healthcare, jobs, social protection, food security, and renewable energy.
At the same time, national development banks, regional and Multilateral Development Banks need to come together to finance major investments.
To support this, the lending capacity of these banks needs to triple so developing countries can better access capital on affordable terms with longer timelines.
This increased access should include re-channeling of unconditional reserve assets — or Special Drawing Rights — to developing countries, preferably through Multilateral Development Banks to multiply their impact.
Private investment is also essential. Resources can be unlocked by making it easier for private finance to support bankable development projects and by promoting solutions that mitigate currency risks and combine public and private finance more effectively.
Throughout, donors must keep their development promises.
Second, we must fix the global debt system. It is unfair and broken.
The current borrowing system is unsustainable, and developing countries have little confidence in it. It’s easy to see why. Debt service is a steamroller crushing development gains, to the tune of more than $1.4 trillion a year. Many governments are forced to spend more on debt payments than on essentials like health and education combined.
Sevilla must result in concrete steps to reduce borrowing costs, facilitate timely debt restructuring for countries burdened by unsustainable debt, and prevent debt crises from unfolding in the first place.
In advance of the conference, a number of countries put forward proposals to ease the debt burden on developing countries. This includes making it easier to pause debt service in times of emergency; establishing a single debt registry to strengthen transparency; and improving how the IMF, World Bank and credit-ratings agencies assess risks in developing countries.
Finally, Sevilla must raise the voice and influence of developing countries in the international financial system so it better serves their needs.
International financial institutions must reform their governance structures to enable greater voice and participation of developing countries in the management of the institutions they depend on.
The world also needs a fairer global tax system, one shaped by all governments — not just the wealthiest and most powerful.
The creation of a “borrowers club” for countries to coordinate their approaches and learn from one another is another promising step toward addressing power imbalances.
The meeting in Sevilla is not about charity. It’s about justice, and building a future in which countries can thrive, build, trade, and prosper together. In our increasingly interconnected world, a future of haves and have-nots is a recipe for even greater global insecurity that will keep weighing down progress for all.
With renewed global commitment and action, Sevilla can spark new momentum to restore a measure of faith in international cooperation and deliver on sustainable development for people and planet.
In Sevilla, leaders must act together to make this rescue mission a success.
OP-ED: “A RESCUE PLAN FOR SUSTAINABLE DEVELOPMENT”
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