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Improved Collaboration: EU pledges Nigeria.

Written by on May 28, 2021

The European Union (EU) has pledged the commitment of EU countries and their business concerns in Nigeria to redouble efforts and collaborate more with the government and Nigerian companies with a view to enhancing the growth and development of Nigeria.

Head of the European Union (EU) Delegation to Nigeria and the Economic Community of West African States (ECOWAS), Ambassador Ketil Karlsen, said EU would work with their Nigerian counterparts and the government as trusted partners to redouble efforts to bring about enhanced developmental strides.

He gave the assurance during the celebration of European Day by the European Business Chamber (EuroCham) Nigeria.

“The European Union is a trusted partner not only in Nigeria but across the African continent and they are committed to engage to end security threats across Nigeria and the regions to consolidate democracy gains,” Karlsen said.

He noted that the EU as the largest trading partner with Nigeria is committed to promoting environmental and security conditions.

Minister of Industry, Trade & Investment, Otunba Adeniyi Adebayo commended EuroCham Nigeria for maintaining cordial relationships with Nigerian businesses and reiterated the commitment of the federal government to invest in initiatives that will promote and foster social investment.

He specifically thanked the European Union for supporting the emergence of Dr. Ngozi Okonjo-Iweala as the Director General of the World Trade Organisation.

Chairman, Anap Business Jets Limited, Mr. Atedo Peterside in his keynote address titled: The Potential for Business Partnerships: What are the “Low Hanging Fruit” Opportunities? called for a level playing field to avoid the continued prevalence of multiple exchange rates that have deterred foreign direct and portfolio investments as well as genuine Nigerian investors who do not have the “clout” to access cheaper foreign exchange (forex).

“It is becoming increasingly difficult and impossible to justify making a major investment in Nigeria as the investor is forced to compete with a few persons whose cost profile is lower on account of their privileged access to cheaper forex,” Peterside.

He called on the investing public to embrace and apply Environmental, Social and Governance (ESG) factors as part of their investment analysis to identify material risks and the odd genuine growth opportunities as some of the socio-economic problems are man-made and can disappear as quickly as they appeared.

President of EuroCham Nigeria, Mr. Adefolu Majekodunmi, who unveiled the new brand identity from European Business Oganisation (EBO) to European Business Chamber (EuroCham) Nigeria, stressed the need for concerted efforts to expand business opportunities between the EU and Nigeria.

He noted the need to reflect on the heritage of the European Union as well as to further establish the profile of the organization as a credible resource platform for healthy collaboration between European and Nigeria key business stakeholders.

“The EuroCham Nigeria identity will put the organisation at a vantage position in nurturing the existing healthy business collaborations under his leadership to ensure that the organization provides a constant link between the European Union Delegation to Nigeria and ECOWAS and the European business community in Nigeria as well as to help local investors to have access to the global market opportunities,” Majekodunmi said.

EuroCham Nigeria, hitherto known as EBO Nigeria, was founded by 18 European companies in October 2018 at the 7th EU-Nigeria Business. It is a member of the EBO Worldwide Network representing European business interests in markets outside the European Union that seeks to further promote trade, investments and exchanges with European business, as well as advocating European quality standards, best practices and corporate social responsibility and opening access to an active network channel in over 45 key markets that serves European multinationals.


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