The European Union has announced a grant worth €300,000 for three years to improve advocacy, increase stakeholder engagement and develop the European Chamber of Commerce (Eurocham) Nigeria secretariat. This substantial financial contribution demonstrates the EU’s dedication to developing solid business and economic relations with Nigeria. Gautier Mignot, EU Ambassador to Nigeria and the Economic Community of West African States, revealed this while speaking during Eurocham’s 25th Annual Stakeholders Conference in Lagos. He described the funding as a significant step toward enhancing economic relations between the EU and Nigeria.
Specifically, this grant is consistent with the EU’s broader Global Gateway Strategy, a four-year program that aims to improve Infrastructure development across Africa, of which Nigeria is a key player. Initially, the grant was signed by Ms. Myriam Ferran, Deputy Director General, Directorate of International Partnerships (INTPA), European Commission, and Mr. Frederik Klinke, Vice-President of Eurocham at the 9th EU-Nigerian Business Forum, which took place in Abuja on July 2, 2024. The funding is aimed to support European commercial interests in Nigeria, improve Eurocham’s ability to serve its members, and advance mutual Economic Growth and development in general.
Eurocham Nigeria set for expansion with EU support.
Vice Presidents of Eurocham Nigeria, Mr. Frederik Klinke (CEO of APM Terminals) and Mr. Yomi Onifade (CEO of Allianz Nigeria), who attended the grant agreement signing, conveyed their appreciation for the EU Delegation’s ongoing assistance. They claimed that the award was a turning point in Eurocham Nigeria’s history and would allow the Chamber to grow, serve its members more effectively, and take a more active part in Nigeria’s economic development. Frederik Klinke, whose company APM Terminals plays a crucial role in Nigeria’s Logistics and maritime sector, emphasized the importance of Eurocham’s strengthened capacity in advocating for policies that support Trade and infrastructure development.
In his remark, Mignot said that the Chamber will be able to increase the administrative capabilities of its Secretariat and broaden its outreach and advocacy efforts on behalf of its members thanks to this funding. Mignot emphasized that the assistance will improve the economic climate, allowing Eurocham to encourage Investment and commerce between Nigeria and Europe. He said that by expanding on the progress made thus far, we open up even more prospects in important domains like trade, investment, and infrastructure development.
Game-changing initiatives that are anticipated to gain.
Mignot reiterated that the EU is Nigeria’s biggest trade partner and a major provider of development funding and foreign direct investment. According to the Ambassador, the strategy seeks to boost investment in important areas including renewable energy, digital transformation, and transportation. He went on to outline game-changing initiatives that are anticipated to gain from this approach, such as the Omi Eko water transportation plan and the installation of 90,000 km of fiber-optic cables across Nigeria.
Investment in agriculture, renewable energy, domestic vaccine production, and environmentally friendly transportation continue to be top priorities, and Eurocham is expected to be actively involved in spotting opportunities and promoting a business-friendly climate. The fund will be channeled toward a number of development projects, such as attempts to improve the business climate in Nigeria, member services improvement programs, and capacity-building activities. It will also be utilized by Eurocham Nigeria to plan training sessions, workshops, and events that would help its members and the larger Nigerian business community.
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Through this intervention, the EU hopes to strengthen Eurocham’s position in policy discussions and strategic interactions with regional administrations, legislators, and corporate players. It is also anticipated that it will allow Eurocham Nigeria to increase its membership base, bolster its advocacy role, and assist European companies wishing to invest in the nation, further cementing the EU’s position as a strategic economic partner to Nigeria. The EU Delegation and Eurocham Nigeria are confident that this partnership will have a big impact, improving both countries’ economies and building a mutually beneficial relationship.