The volume of commerce between the European Union and Nigeria has increased by 25.8%, reaching €28.7 billion in 2021.
Nigeria’s purchases from the EU totaled €17.5 billion, while its exports totaled €11.2 billion, resulting in a €6.4 billion trade surplus in Nigeria’s favor.
Amb Samuela Isopi, the Head of the European Union Delegation to Nigeria and the Economic Community of West African States, made the announcements at a news conference on Thursday, ahead of Europe Day 2022 on May 9.
She stated that the EU would intensify its bilateral engagement and friendship with Nigeria in order to achieve better and greater results in their collaboration.
The ambassador stated that the EU is working as a Team Europe with its member states, the European Investment Bank, and other EU Development Finance Institutions to implement the agreed goals.
“The EU remains Nigeria’s greatest economic partner, first investor, top contributor of humanitarian and development aid, and largest diplomatic network,” she said, highlighting the benefits of the union’s bilateral relations with Nigeria. In 2021, the volume of EU-Nigeria commerce was €28.7 billion, up 25.8% from the previous year. Nigeria’s purchases from the EU totaled €17.5 billion, while its exports totaled €11.2 billion, resulting in a €6.4 billion trade surplus in Nigeria’s favor.
