Nigeria’s battle against food insecurity and poverty has received a boost from the European Union.
The Intergovernmental regional organisation has launched a digital platform to advance investment in the country’s agribusiness sector.
At the 9th edition of the Nigeria EU business forum, stakeholders highlighted the importance of identifying this and other new mutually beneficial areas of investment.
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The EU believes the agribusiness platform will boost the exploration and exploitation of opportunities between Nigeria and the EU through the establishment and maintenance of a network of active members across Nigeria and the EU.
According to the Deputy Director General, Directorate of International Partnerships, European Commission, Myriam Ferran, the idea for an agribusiness platform stems from the commitments of the November 2020 EU-Nigeria Ministerial Dialogue.
The EU remains Nigeria’s biggest trading partner, first investor, top donor for humanitarian initiative and development aid, with the biggest diplomatic network.
The volume of EU-Nigeria trade stood at €24.6bn in 2023 which is 18.7% lower than the 2022 figure
(Editor: Oloyede Oworu)
