In a strategic move to boost trade relations between Nigeria and Europe, the European Union has awarded a €300,000 grant to the European Chamber of Commerce (Eurocham) Nigeria.
The three-year funding is set to enhance the Chamber’s advocacy efforts, support its secretariat, and foster deeper engagement with key stakeholders in Nigeria’s business landscape.
The announcement was made by the EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, during Eurocham’s 25th Annual Stakeholders Conference held in Lagos.
According to Mignot, the grant will enable Eurocham to strengthen its administrative capacity, improve external activities, and further advocate on behalf of its members, focusing on creating a more business-friendly environment.
This financial support will play a pivotal role in reinforcing Eurocham’s position as a key player in policy discussions with Nigerian governments, policymakers, and local businesses. It is aimed at unlocking new opportunities for trade, investment, and economic growth, particularly in sectors such as infrastructure, agriculture, and renewable energy.
Mignot also highlighted the importance of the grant within the EU’s broader Global Gateway Strategy, a four-year initiative designed to improve infrastructure across African nations, with a focus on Nigeria. The strategy aims to drive investments in critical areas like digital skills, e-governance, and the installation of 90,000 km of fibre-optic cables across the country.
Through this initiative, Eurocham is expected to take on a more active role in advocating for policies that foster economic development and a conducive business environment. The grant underscores the EU’s ongoing commitment to Nigeria, reinforcing its position as the country’s largest trading partner and a key source of foreign investment.
With this €300,000 grant, the EU is not only supporting Eurocham’s operations but is also investing in Nigeria’s long-term growth and collaboration with European businesses, positioning the country for greater economic opportunities in the near future.