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Over 230 EU Companies Active in Nigeria, Account for 130,000 Jobs –Report

Over 230 EU Companies Active in Nigeria, Account for 130,000 Jobs –Report
By: Michael Mike
Over 230 European Union companies are currently operating in Nigeria, accounting for over 130,000 jobs in the country’s economy, according to the report of a recent study by Commercium Africa.
The study commissioned by the European Union also showed that 42 per cent of the companies arrived in Nigeria in the last decade, underlining the country’s economic potential and the increasing tempo of investment from the European Union in Nigeria’s economy in recent years.
In addition to Nigeria being a major destination of choice for European investments, the European Union is the country’s largest trading partner by a wide margin, with notable balance of trade in favour of Nigeria, the new report showed.
It for the first time, mapped out the presence of EU companies in Nigeria, also showing that EU companies invested over €2 billion into the Nigerian economy in the last fiscal year, reaching a turnover of about €4 billion during the period.
According to the report, four in every five or 80 per cent of the EU companies are headquartered in Lagos, Nigeria’s commercial capital, with manufacturing being the largest individual sector, and accounting for 19 per cent of over 230 firms. European companies are also contributing to the pool of skills in the Nigerian economy, having provided 6,000 of their employees with professional training opportunities, the report notes.
Welcoming these findings, the European Union Ambassador to Nigeria and ECOWAS, Ms Samuela Isopi hailed the footprints of EU businesses in the country.
She said: “As we delve into the extensive presence and contributions of the EU companies in Nigeria, it becomes evident that the European Union’s partnership with Nigeria goes beyond trade figures. Our commitment to Nigeria’s growth is reflected in the investments, job opportunities, and economic contributions made by the EU companies. This first mapping highlights the importance of our relationship and the potential for further collaboration in various sectors. We remain dedicated to working hand in hand with Nigeria for mutual prosperity.”
The President of the European Business Chamber Nigeria (EuroCham), Mr Yann Gilbert, expressed delight with the findings of the study, which he described as impactful. “The results illustrate the substantial and consistent contribution of EU companies to the Nigerian economy over the years, underlining the important role played in fostering economic growth, job creation, human capital development, circular economy and innovation spread all over the Federal Republic of Nigeria.”
He added that: “Moreover, the results confirm the consistent strengthening of our bilateral ties, emphasizing the positive collaborative spirit that defines EU-Nigeria relations.”
Over 230 EU Companies Active in Nigeria, Account for 130,000 Jobs –Report
News
Kidnapped victims rescued, terrorists neutralised in Sokoto and Zamfara

Kidnapped victims rescued, terrorists neutralised in Sokoto and Zamfara
By: Zagazola Makama
Troops of Operation FANSAN YANMA (OPFY) have rescued eight kidnapped victims and neutralised one terrorist in separate operations in Zamfara and Sokoto States.
Sources told Zagazola Makama that the troops intercepted terrorists attempting to move kidnapped victims from Barkin Daji Forest to Bagega Forest in Bukkuyum Local Government Area (LGA).
It said the troops laid an ambush at a known crossing point between Tungar Miragumi and Zugu village, where contact was made and the terrorists engaged in a gun duel, forcing them to abandon their captives.
“All eight victims were successfully rescued and efforts are ongoing to reunite them with their families,” said the sources.
Kidnapped victims rescued, terrorists neutralised in Sokoto and Zamfara
News
FG’s student loan scheme improving access to higher education -NOA DG

FG’s student loan scheme improving access to higher education -NOA DG
The National Orientation Agency (NOA), on Wednesday, said that the Federal Government’s interest-free loan under the Nigerian Education Loan Fund (NELFUND) is reducing dropout amongst undergraduates in the country.
Mallam Lanre Issa-Onilu, the NOA Director General, stated this in Gombe at a news conference on five thematic areas of the present administration.
The News Agency of Nigeria (NAN) reports that Issa-Onilu spoke through Mr David Akoji, the Director Special Duties, NOA Headquarters, Abuja.
He reiterated the commitment of President Bola Tinubu’s administration to improving access to education at all levels and ensuring that “financial constraints do not prevent young Nigerians from pursuing higher learning.”
Issa-Onilu said NELFUND was established by the Tinubu administration to ensure that no Nigerian who qualified to go for tertiary education was prevented from doing so, as a result of inability to pay school fees.
According to him, funding which used to be the biggest challenge in accessing tertiary education is no longer a threat to undergraduates and students seeking higher education.
The director general said the administration of President Tinubu had disbursed N59 billion to over 600,000 students that have applied for NELFUND Student Loan.
The director general assured that the era of students leaving tertiary institutions without completing their degree as a result of financial constraints was over.
He stated that the initiative showed that the Tinubu-led administration was committed to improving the wellbeing and welfare of Nigerians by empowering young Nigerians with education and skills.
Issa-Onilu urged students in Gombe State who have financial challenges to embrace the initiative to ease the burden, stressing that the loan scheme “is available to all qualified Nigerians who are schooling in public tertiary institutions in Nigeria.”
Speaking on the thematic areas Issa-Onilu said they include; Government Policies, Programmes and Activities, the Nigerian Identity Project and National Symbols, and flood mitigation.
He cited others as National Security Awareness towards achieving improved security consciousness in communities and National Values Re-orientation for Students of Secondary Schools and Tertiary Institutions against sign-out extreme practices.
He also announced plans by the federal government to support 150, 000 youths across Nigeria under the National Youth Investment Fund (NYIF), adding that N110 billion had been dedicated to implement the initiative.
The director general further expressed the commitment of Tinubu’s administration to impacting positively on the wellbeing of all Nigerians especially the poor and vulnerable households.
On government programmes, Issa-Onilu hinted that over 2 million households enrolled into the Social Safety Nets Expansion, had benefitted from the Conditional Cash Transfer.
He said: “Trader Moni and Farmer Moni were introduced through the Government Enterprise and Empowerment Programme (GEEP). These are interest-free loans of up to a maximum of N100,000 for trader moni, while, farmer moni up to N300,000.”
FG’s student loan scheme improving access to higher education -NOA DG
News
Security forces neutralise two notorious bandits in Benue clearance operation

Security forces neutralise two notorious bandits in Benue clearance operation
By: Zagazola Makama
Security forced have neutralised two suspected notorious bandits during a clearance operation in Ukum Local Government Area of the state.
Sources told Zagazola that the operation followed credible intelligence received on Tuesday at about 1:00 p.m.
The report indicated that a criminal gang led by one Senen Hemen, also known as Orpa, was sighted along the pipeline axis between Gbeji and Igbongom communities in Ukum.
According to the sources, security forces were promptly mobilised to the location, where the gang engaged the operatives in a gun duel.
During the exchange, Hemen and another gang member identified as Mzungweve Ichur, both from Igbongom, were shot dead, while others fled the scene with gunshot injuries.
The sources confirmed that the corpses of the two suspects had been recovered and deposited at a private mortuary in Gbeji, while a manhunt had been launched in the surrounding bushes to track the fleeing accomplices.
The sources assured residents that the operation was part of ongoing efforts to rid Ukum and adjoining areas of violent criminal gangs.
Security forces neutralise two notorious bandits in Benue clearance operation
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