Abuja, the heart of Nigeria’s administrative and now increasingly its business landscape, is set to play host to a significant international event poised to unlock substantial investment opportunities. On July 2, 2024, Nigerian and European business leaders, policymakers, and key institutional stakeholders will converge in the Federal Capital Territory for the 9th European Union-Nigeria Business Forum.
This landmark event, themed “Investing in Jobs and a Sustainable Future”, marks a significant milestone as it will be the first time the prestigious forum is held in Abuja. The initiative is spearheaded by the EU Delegation to Nigeria and ECOWAS, working in close collaboration with EU Member States and Nigeria’s Federal Ministry of Industry, Trade and Investment. The chosen venue for this crucial dialogue is Abuja’s Continental Hotel.
The EU Ambassador to Nigeria and ECOWAS, Her Excellency Samuela Isopi, highlighted the forum’s core objectives. Beyond simply fostering interaction between businesses and policymakers from both Nigeria and the EU, the forum aims to actively facilitate trade, investment, and the forging of strategic partnerships. This will be achieved through targeted networking sessions, in-depth discussions, and collaborative policy shaping, all geared towards strengthening economic cooperation and stimulating sustainable growth for both the European Union and Nigeria.
“It is important to note that for the first time since its inception, the 2024 edition of the EU-Nigeria Business Forum will be held in Abuja,” Ambassador Isopi stated. “This will provide a unique opportunity for the EU, its Member States, and the private sector from Europe and Nigeria to engage directly with the new administration on their investment agendas in a transparent and inclusive manner, with a clear view to fostering confidence and a strong commitment to a more robust and sustainable partnership.”
Drawing attention to the EU Global Gateway Strategy, Ambassador Isopi explained that EU-funded projects will strategically complement private sector investments in key areas that promote critical social, economic, and environmental sustainability within Nigeria. She emphasized that particular focus will be placed on harnessing local talent, especially among Nigeria’s vibrant youth and women, as well as building economic, social, and environmental resilience across the nation.
Against this backdrop of mutual interest and strategic alignment, the 9th EU Nigeria Business Forum will specifically zone in on current and promising investment opportunities within the digital, health, and agricultural sectors – areas identified as holding significant potential for growth and mutual benefit.
Furthermore, the Business Forum will delve into the possibilities and advantages of establishing a robust bilateral legal framework between the EU and Nigeria. This crucial discussion aims to bring greater certainty, stability, and long-term sustainability to the bilateral trade and investment relationship between the two economic powerhouses.
Nigeria’s Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, voiced her strong support for the initiative. “I commend the EU Delegation to Nigeria and ECOWAS, as well as the EU Member States for their unwavering dedication to promoting economic cooperation and stimulating sustainable growth,” she said. “Let us seize this invaluable opportunity to collectively pave the way for a prosperous future for both Nigeria and the European Union.”
The 9th EU Nigeria Business Forum will adopt a hybrid format, ensuring broad participation from sectoral associations, the wider business community, and entrepreneurs. Organizers anticipate attracting at least 400 in-person participants to the Continental Hotel in Abuja, with many more expected to join the discussions virtually.
The forum’s agenda will feature insightful panels addressing a range of critical issues, including building confidence in the Nigerian economy and exploring sustainable solutions to attract vital Foreign Direct Investment (FDI). Other key panel topics include leveraging digitalisation for economic leapfrogging, the crucial link between healthy economies and thriving societies, and the vast potential of transforming agriculture into a dynamic agribusiness sector.
The decision to host this pivotal forum in Abuja underscores the growing recognition of the Federal Capital Territory as a key center for business and investment in Nigeria. As Nigerian and European stakeholders converge, the 9th EU-Nigeria Business Forum promises to be a significant catalyst for fostering stronger economic ties, driving sustainable development, and unlocking a new era of investment opportunities for the benefit of both regions. Abuja stands ready to welcome this crucial dialogue and play its part in shaping a prosperous and sustainable future for Nigeria and its European partners.
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