The Federal Government of Nigeria has settled its backlog of debts to European airlines, amounting to $850 million.
This announcement was made by the European Union Ambassador to Nigeria and ECOWAS, Samuela Isopi, during the 9th edition of the Nigeria-EU Business Forum in Abuja on Tuesday.
Isopi praised the government’s efforts in clearing the backlog and lifting foreign exchange restrictions on importing forty-three items. She highlighted that Nigeria remains the EU’s largest trading partner, with trade relations totaling about 35 billion Euros over the past year.
She also noted that Nigeria is the EU’s biggest foreign investor, with investments estimated at 26 billion Euros, accounting for one-third of Nigeria’s foreign direct investment.
Isopi mentioned that over 230 EU companies operate in Nigeria, creating jobs for youths and women. The meeting, themed “Investing in Jobs and Sustainable Future,” included attendees such as the Director General at the EU, Myriam Ferran, the Minister of Budget and National Planning, Atiku Bagudu, and the Permanent Secretary at the Ministry of Industry, Trade, and Investment, Ambassador Nura Rimi.
The forum aims to provide a platform for dialogue between the public and private sectors and to emphasize the government’s role in supporting businesses to achieve inclusive development.
