News
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
Police repel bandits, rescue six kidnapped victims on Yankara-Funtua highway in Katsina
By: Zagazola Makama
Police in Katsina State have successfully rescued six kidnapped victims after intercepting an armed bandit attack on Yankara-Funtua highway in Faskari Local Government Area.
Sources said on Jan. 24 at about 1:25 a.m., unidentified armed bandits blocked the highway and abducted six occupants of a green Honda Civic, registration number AAA 518 BC, en route from Funtua to Faskari.
The DPO Faskari, on routine patrol, promptly engaged the hoodlums in a tactical gunfight.
The bandits were overpowered and fled into the bush, abandoning their mission. All six victims, Rabi Hamisu, Safare Musa, Abubakar Samaila, Shehu Umar, Sara’u Yahaya, and Ibrahim Babangida, were rescued unharmed and safely returned to their homes.
Intensive patrols continue in the area, while efforts to apprehend the fleeing suspects are ongoing.
Police repel bandits, rescue six kidnapped victims on Yankara-Funtua highway in Katsina
Suspect arrested for trespassing, attempting robbery at Bauchi Emir’s palace
By: Zagazola Makama
A 20-year-old man, Umar Hamza, was apprehended Wednesday night for trespassing and attempting to steal from the Emir of Bauchi’s residence.
Sources said Hamza entered one of the Emir’s son’s rooms carrying a bunch of keys and tried to commit theft around 8:20 p.m. on January 23.
He was intercepted shortly after the act and taken into the Police custody for questioning.
Police said Preliminary inquiries indicate the suspect intended to steal from the palace.
Suspect arrested for trespassing, attempting robbery at Bauchi Emir’s palace
VP Shettima Returns To Abuja, Says Nigeria Firmly Back On Global Economic Frontline
By: Our Reporter
Vice President Kashim Shettima has returned to Abuja after a week-long diplomatic and economic mission to Guinea-Conakry and Switzerland.
This is just as he said Nigeria has reclaimed a frontline seat in global and regional policy conversations.
VP Shettima arrived at the Nnamdi Azikiwe International Airport on Saturday after representing President Bola Ahmed Tinubu at the inauguration of Guinea’s President, Mamadi Doumbouya, and leading Nigeria’s delegation to the 56th World Economic Forum (WEF) Annual Meeting in Davos.
According to the Vice President, the trip is part of Nigeria’s renewed commitment to regional solidarity in West Africa and its determination to reposition the economy under President Tinubu’s Renewed Hope agenda.
The Vice President had departed Abuja for Conakry, where he attended President Doumbouya’s inauguration, reaffirming Nigeria’s leadership role within ECOWAS, while opening new pathways for bilateral cooperation in agriculture and manufacturing.
From Guinea-Conakry, Senator Shettima proceeded to Davos, Switzerland, where he led the Nigerian delegation at the WEF 2026.
One of the highpoints of his engagements in that country was the commissioning of Nigeria House Davos, the Nigeria’s first-ever sovereign pavilion on the Davos Promenade, designed as a permanent investment hub showcasing opportunities in solid minerals, agriculture and the digital economy.
At a high-level WEF session titled, “When Food Becomes Security,” the Vice President outlined Nigeria’s new national food security framework, describing agriculture as a strategic pillar of national security and macroeconomic stability.
Vice President Shettima also joined former President Olusegun Obasanjo, former Vice President Yemi Osinbajo and Minister of Finance, Mr. Wale Edun, to advance the Accra Reset Initiative, a forum advocating African industrialisation driven by domestic capital and value chains rather than foreign aid.
On the economic front, the Vice President told investors that Nigeria’s macroeconomic indicators were stabilising, citing a projected 4.4 per cent GDP growth in 2026 and a decline in inflation to 12.94 per cent.
He also pointed to Nigeria’s imminent transition into a net exporter of refined petroleum products, anchored by the Dangote Refinery, and the growing export of digital talent.
VP Shettima Returns To Abuja, Says Nigeria Firmly Back On Global Economic Frontline
Bandits raid Kitibawa community in Katsina despite peace deal
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Police repel bandits, rescue six kidnapped victims on Yankara-Funtua highway in Katsina
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