EU, Nigeria trade volume hits €28.7bn

EU Ambassadors Visit Pix 1

L-R: European Union Ambassador to Nigeria and ECOWAS, Ms. Samuela Isopi, Group Managing Director of NNPC, Mallam Mele Kyari, and Chief Financial Officer of NNPC, Mr. Umar Ajiya, during the visit.

By Maureen Okon

Ms Samuela Isopi, the Ambassador to the EU Delegation to Nigeria and ECOWAS, has put the trade volume between the bloc and Nigeria in 2021, at 28.7 billion euros.

The envoy said this at the Europe Day celebration, which was held at the EU Residence in Abuja.

Isopi said that the EU as a bloc remained Nigeria’s biggest trading partner accounting for more than 20 per cent of Nigerian trade with the world.

”In 2021 the volume of EU-Nigeria trade stood at 28.7 billion euros, an increase of more than 25 per cent over 2020, with a trade balance of 6.4 billion euros in favour of Nigeria.

According to her, the bloc is Nigeria’s first partner in foreign direct investment, with EU companies contributing, together with their Nigerian business partner, to the country’s economic growth, job creation and wealth generation.

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She said the bloc was looking further into strengthening these relations and to help create the necessary condition for the private sector to operate and contribute to developing the country.

The bloc would continue to work with the EU Member States, the European Investment Bank and other EU Development Financial Institutions, as ‘Team Europe’ to implement their joint vision.

In addition, she pledged the EU’s determination to continue working with Nigeria to enhance security, development and its vision for the future.

She said that the bloc in bringing back peace in the North-East would support recovery, peacebuilding and the fight against terrorism and violent extremism, through the Multinational Joint Task Force.

Also that the bloc would want to work together to strengthen multilateralism, democracy human rights, free and fair trade and sustainable development.
as felt across the world, but that affects first and foremost Europe and the EU.


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