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Federal Government Clears $850 million Debt to EU Airlines

Written by on July 2, 2024

The Federal Government has paid up the backlog of debts to European airlines to the tune of $850 million.

The European Union Ambassador to Nigeria and the ECOWAS, Samuela Isopi, revealed this at the 9th edition of the Nigeria – EU Business Forum in Abuja today.

This comes as she commends the government for its intervention in clearing the backlog as well as the removal of foreign exchange restrictions on the import of forty-three items.

Isopi says that Nigeria remains the EU’s largest trading partner with about 35 billion Euros in trade relations in the last year while adding that Nigeria is the E.U’s biggest foreign investor with a stock estimated at 26 billion Euros, representing one-third of Nigeria’s foreign direct investment.

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