The Federal Government of Nigeria has settled a backlog of debts amounting to $850 million owed to European airlines. This was announced by Samuela Isopi, the European Union Ambassador to Nigeria and the ECOWAS, during the 9th Nigeria–EU Business Forum held in Abuja on Tuesday.
Isopi praised the Nigerian government for its decisive intervention in clearing the debt and lifting foreign exchange restrictions on the importation of forty-three items. She highlighted that Nigeria remains the EU’s largest trading partner, with trade relations valued at approximately 35 billion Euros over the past year.
Furthermore, Isopi noted that the EU is Nigeria’s biggest foreign investor, with investments totalling 26 billion Euros, which constitutes one-third of Nigeria’s foreign direct investment. She emphasized the significant presence of over 230 EU companies in Nigeria, which provide numerous employment opportunities for youths and women.
Themed “Investing in Jobs and Sustainable Future,” the forum gathered key figures such as Myriam Ferran, Director General at the EU, Minister of Budget and National Planning Atiku Bagudu, and Nura Rimi, Permanent Secretary at the Ministry of Industry, Trade and Investment. The event aimed to foster dialogue between the public and private sectors and underscore the government’s role in supporting businesses to achieve inclusive development.
