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The European Union (EU) has launched the Eurocham Nigeria Institutional Development Support, a €300,000 three-year grant aimed at strengthening Eurocham’s secretariat, expanding advocacy, enhancing external engagement for its members, and supporting Nigerian businesses.

This grant is part of the EU’s efforts to support Eurocham in fulfilling its mandate and expanding its membership base in Nigeria. By reinforcing Eurocham’s role in advocacy and policy dialogue, the grant seeks to create a conducive business environment through strategic engagement with local governments, policymakers, and stakeholders.

According to EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, “A highlight of 2024 that I would like to underscore is the approval of a three-year grant to the tune of €300,000, which we awarded to Eurocham last year.” Mignot explained that this financial support will enable Eurocham to strengthen its secretariat’s administrative capacity and expand its external activities and advocacy work on behalf of its members.

Mignot emphasized the EU’s readiness to deepen collaboration with Eurocham Nigeria, highlighting the importance of strong governance, effective coordination with EU member states, and collaboration with bilateral chambers. He noted that “By building on what has been achieved so far, we pave the way for even greater opportunities in key areas like trade, investment, and infrastructure development.”

The EU Ambassador also reiterated the EU’s commitment to Nigeria, stating that “it bears repeating that the EU remains Nigeria’s biggest trading partner by a large margin, as well as one of the main sources of foreign direct investments and development financing.”

In addition, Mignot discussed the EU Global Gateway Strategy, a four-year grant aimed at enhancing infrastructural development in Nigeria and other African countries. He highlighted the importance of investments in areas such as agriculture, renewable energy, local manufacturing of vaccines, and sustainable transportation, emphasizing the need for Eurocham to play an active role in identifying opportunities and advocating for a conducive business environment.

Mignot noted that the EU Global Gateway Strategy aligns with Nigeria’s development priorities, adding that “In alignment with the EU Global Gateway Strategy, we look forward to greater visibility for transformative projects such as the Omi Eko water transportation initiative or the scaling up of our commitment to digital skills, e-governance, together with support to the deployment of 90,000 km of fiber-optic cables across the country pursued by the government of Nigeria.

He emphasized the importance of investments in key sectors, stating that “investments in the agricultural and renewable sectors, local manufacturing of vaccines, and sustainable transportation are similarly important objectives for which we count on the chamber to play an active role in identifying opportunities, aggregating investors, and advocating for a conducive business environment.”

The launch of the Eurocham Nigeria Institutional Development Support is expected to further strengthen the partnership between the EU and Nigeria, promoting economic growth and development in the country.

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