The European Union (EU) has announced a significant financial grant of €300,000, which will be spread over three years. This money is intended to help the European Chamber of Commerce in Nigeria, known as Eurocham, become stronger in its operations, improve its ability to advocate for its members, and engage more effectively with important stakeholders.
During a conference held in Lagos marking 25 years of Eurocham’s existence, Gautier Mignot, the EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), shared this news. He explained that this funding is an important step forward in enhancing the trade relationship between Europe and Nigeria.
Ambassador Mignot emphasized the significance of this grant in 2024, noting that it had been approved the previous year. He stated that the financial support would help Eurocham build a more capable administrative team and allow them to carry out more activities and advocacy work for their members.
The EU’s backing is aimed at strengthening Eurocham’s influence in discussions about policies and fostering partnerships with local governments, policymakers, and business leaders. Mignot pointed out that this support would help create a better environment for businesses to thrive, which would, in turn, promote trade and investment between Europe and Nigeria.
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He highlighted that this collaboration would build upon previous successes and open doors to more opportunities, especially in areas like trade, investment, and infrastructure development. Mignot reaffirmed the EU’s role as Nigeria’s largest trading partner, as well as an essential source of foreign investment and development funding.
Moreover, he connected this grant to a broader EU initiative called the Global Gateway Strategy, which spans four years and focuses on improving infrastructure in Nigeria and other African nations. Under this strategy, Nigeria is set to receive substantial investments in various sectors, including digital skills training, e-governance, and the installation of a vast network of fibre-optic cables throughout the country.
Ambassador Mignot expressed hope for greater visibility and support for transformative projects in Nigeria, such as initiatives related to water transportation. He also mentioned that investments in agriculture, renewable energy, local vaccine production, and sustainable transportation are critical priorities. He looks to Eurocham to help identify opportunities for investment and advocate for an environment that is favorable for business growth.
