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Foreign Investment: EU-Nigeria Trade Hit €35bn In 2023 – Envoy

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The European Union (EU), says it remains Nigeria’s largest trading partner, with a total trade of almost €35 billion in 2023, accounting for about one-third of Nigeria’s foreign investment.
Ms Samuela Isopi, the European Union Ambassador to Nigeria and ECOWAS, made this known in Abuja, yesterday, at the 9th Edition of the Nigeria-EU Business Forum 2024.
The Tide source reports that the theme for this year is “Investing in Jobs and Sustainable Future”.
According to Isopi, the 2024 edition of the forum is the first being held outside Lagos to highlight the importance of the role of the government in supporting business, private sector and private investments as drivers for inclusive and sustainable economic development.
He said, “The EU is by far Nigeria’s largest trading partner with a total trade of almost €35 billion last year, accounting for about one-third of Nigeria’s foreign trade, and a balance at more than 10 billion euros in favour of Nigeria.
“The European Union is also Nigeria’s biggest foreign investor with a stock estimated at €26 billion, representing one third of Nigeria’s FDI stock.
“In collaboration with our member states and with EUROCHAM Nigeria, the European Chamber of Commerce, we have carried out the first-ever mapping of EU companies present in Nigeria and the findings are quite extraordinary.
“More than 230 companies, from 18 EU member states are present in Nigeria with France, Germany and the Netherlands making up 60 per cent of the companies captured by the survey.”
Isopi also said that in the past, much of this investment used to go into the oil and gas sector, adding that today, the largest sector for EU companies operating in Nigeria was manufacturing, accounting for almost 20 per cent of total EU investments in Nigeria.
She said that this was followed by professional services, logistics and constructions while the extractive industries, oil and gas represented less than 10 per cent.
Isopi added that the EU companies had a turnover of four billion euros in the last fiscal year due to employment, through the creation of more than 130, 000 jobs and skill development with 6,000 Nigerians trained annually.
The Ambassador said that the EU and its member states was also a top development partner and the European Investment Bank was also increasingly active, with an important ongoing portfolio on innovation, renewable energies, and private sector development among others.
She said that if Nigeria reconsidered its position on the Economic Partnership Agreement (EPA), it would also open up full and immediate access to the EU market with more than 400 million consumers.
Isopi said the forum would focus on fostering concrete investments in Nigeria, in line with the Renewed Hope Agenda in economic openness and investment, agriculture, digitisation, health among others.
She commended the Central Bank of Nigeria”s decision to remove foreign exchange restrictions for the import of 43 items.
In the same vein, Ms Myriam Ferran, Deputy Director- General, Directorate for International Partnerships, European Commission, said that the EU resolution was to strengthen ties across the globe especially this period of global crisis.
“The Global Gateway Initiative is a strategy by the EU to invest in infrastructure projects worldwide; it is the European offer to support sustainable connectivity around the world looking at the best opportunities for further investments.
“Global Gateway is a tool box with a toolkit where you can find what is needed. We work a lot with the government to assist in implementing and improving the business environment,” she said
Similarly, Sen. Abubakar Bagudu, Minister of Budget and Economic Planning, said that the current administration was interested in encouraging investments and willing to do better in international trade.
Bagudu said that the EU concept was a model for the world and it showed that the world could do better when prosperity was shared, and commended the EU for its initiative and support to Nigeria.
“Nigeria has undertaken bold economic reforms most importantly in order to enable us to combat our reality which includes among others decades of under investment in every area of our national life.
“We are mindful that capital is out there. So what we need to do is to ensure policies that motivate capital funders with confidence to invest in our economy,” he said.
Meanwhile, Dr Dele Oye, President, Nigerian Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), said that the chamber was the biggest in Africa with more than 90 members.
Oye said that the chamber should therefore be contacted before any foreign direct investments.
He emphasised the need for the government to always carry the chamber along especially during international trips to negotiate better business deals.
Oye lamented the departure of some foreign companies from Nigeria and urged those still available to always dialogue with the chamber to seek ways to resolve their challenges rather than exiting the

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RSG Reaffirms Commitment To Quality Education 

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?The Rivers State Government has reaffirmed its commitment to quality education and human capital development.
Rivers State Governor, Sir Siminalayi Fubara, reaffirmed this at the 44th Convocation Ceremony of Ignatius Ajuru University of Education, Rumuolumeni, in Port Harcourt, last Saturday.
Represented by his deputy, Prof. Ngozi Nma Odu, the governor described the convocation as a significant milestone in the life of the institution, noting that such ceremonies go beyond the conferment of degrees and awards.
?According to him, convocation ceremonies provide opportunities for reflection, celebration, and renewed commitment to the ideals of learning, leadership, service, and national development.
?Fubara congratulated the Governing Council, management, staff, graduating students, and supporters of the university for the successful hosting of the event.
He particularly commended the Acting Vice Chancellor, Prof Okechuku Onuchuku and management for sustaining academic excellence, discipline, and human capital development over the years.
He noted that the university has continued to distinguish itself as one of Nigeria’s leading institutions of higher learning, especially in teacher education, while also praising the visible transformation and improved image of the institution.
?Restating the importance of education to societal growth, Fubara insisted that education remains the bedrock of sustainable development and societal transformation.
?He stressed that his administration remains committed to policies and programmes that promote access to quality education, infrastructure development, research, innovation, and the welfare of staff and students across educational institutions in the State.
?The governor further urged universities to produce not only graduates but also innovators, responsible citizens, and future leaders capable of competing globally.
Addressing the graduating students, Fubara described their graduation as the completion of one phase of life and the beginning of another filled with opportunities and responsibilities, reminding them that their certificates symbolize hard work, sacrifice, and determination toward a brighter future.
?In his address, the Pro-Chancellor and Chairman of Governing Council of the university, Dr. Chinyere Igwe, called for increased support for the institution, citing challenges such as inadequate funding, aging infrastructure, limited laboratory and ICT facilities, and staff shortages.
According to him, management is working to protect the institution’s academic standards and improve its public image through transparency, excellence, and international collaborations.
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?He disclosed that the university has introduced reforms including infrastructure rehabilitation, curriculum modernization, and expanded online learning, but stressed that more support is needed from the government, corporate organisations, alumni, and development partners to sustain growth and improve educational quality.
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?Also speaking, the Acting Vice Chancellor of the institution, Prof Okechuku Onuchuku,
commended the Rivers State Government for its continued support to the institution, particularly in staff recruitment, infrastructure development, and accreditation exercises.
?He thanked former Governor Nyesom Wike and Governor Siminalayi Fubara for their contributions to the growth of the university.
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?He disclosed that 53 of the institution’s 79 undergraduate programmes are fully accredited by the National Universities Commission, while other programmes have received necessary approvals and verification.
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? The Vice Chancellor also highlighted ongoing infrastructure projects and urged graduating students to uphold the values and standards of the institution.
Statistical breakdown of the graduands indicates that a total of 3,510 had First Degree while 1,815 had Postgraduate Degree.
The theme for the 44th Convocation is “The Story of Academic and Administrative Progress: The Case of IAUE”.
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RSUBE Holds Training For 1,000 New Teachers

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The Rivers State Universal Basic Education Board (RSUBE) has trained 1,000 newly recruited teachers with a view to raising standards in public primary and junior secondary schools in the state.

The two-day orientation and capacity building programme held in Port Harcourt introduced the teachers to civil service rules, classroom management practices, and professional conduct expected of educators in the state.

The State Commissioner for Education, Dr. Peters Nwagor, told the newly recruited teachers that teaching demands more than academic qualifications, and called for discipline, diligence, and a strong commitment to service.

He described teaching as a noble profession that is central to the development of the state.

The recruitment, he said, reflects the government’s investment in children and long-term development.

“Education is the foundation of societal progress, and basic education is where that foundation is laid,” Nwagor stated.

He urged the teachers to shape the values and character of pupils during their most formative years.

He pledged continued support from the Ministry of Education through training, resources, and an environment that allows teachers to perform effectively.

Nwagor directed RSUBEB to reject transfer requests from rural to urban schools, saying the newly employed teachers have an obligation to serve where they are posted and help strengthen education in those communities.

In his opening remarks, the RSUBEB Chairman, Hon. Sam Oge, explained that the recruitment process began in 2023 under the previous board, adding that after assuming office, he consulted widely and secured Governor Siminalayi Fubara’s approval to complete the exercise.

Oge said the selection was competitive, with 1,000 candidates chosen from more than 5,000 applicants, and urged the teachers to treat the opportunity seriously and avoid lobbying for reposting.

He directed the teachers to resume at their assigned schools immediately, saying request for reposting will not be entertained.

The former RSUBEB Chairman, Ven. Dr. Fyneface Akah, who delivered the keynote address, described the orientation as the teachers’ formal entry into the civil service.

He urged them to be creative, purposeful, and open to learning on the job.

Akah stressed that teachers have a role in restoring values lost to moral decline, and urged them to model national values and see their work as a calling with lasting impact on the society.

He thanked the State Government for approving the recruitment, noting that the exercise will improve access to quality basic education across the State.

Akujobi Amadi

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INEC To Deploy 1.4m Corps Members For 2027 Elections

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The Independent National Electoral Commission (INEC) has disclosed that no fewer than 1.4 million members of the National Youth Service Corps will be deployed for the 2027 general elections.

The Chairman of the commission, Prof Joash Amupitan (SAN), made this known on Monday during a courtesy visit to the Director-General of the NYSC, Brig Gen Olakunle Nafiu, at the Yakubu Gowon House, headquarters of the scheme, in Abuja.

Amupitan, in a statement signed by his Chief Press Secretary and Media Adviser, Adedayo Oketola, described the meeting with the NYSC senior management team as more than a formal courtesy visit, saying it was also a mission of gratitude.

According to him, the NYSC remains a critical pillar in Nigeria’s democratic process.

He noted that corps members had participated in virtually every election cycle since 1999, stressing that, “INEC cannot conduct elections in Nigeria without the NYSC.

“As the Chairman of the Independent National Electoral Commission, I am honoured to discuss our collaborative efforts toward ensuring seamless and credible elections in Nigeria.

“You provide the heartbeat of our field operations. When we speak of election manpower, we are essentially speaking of corps members.

“They are the most dedicated, educated and patriotic election duty staff we have, and their presence at polling units brings a level of neutrality and public confidence that is irreplaceable.

“They form the backbone of our election processes, especially as ad hoc staff, whose dedication, discipline and patriotism are critical to the success of our elections,” he added.

Amupitan said institutional data from the 2023 general election showed the importance of the partnership between INEC and the NYSC.

He explained that INEC deployed about 1.2 million ad hoc staff for the 2023 elections, with over 70 per cent, nearly 850,000 personnel drawn from corps members and student volunteers.

Speaking on preparations for the 2027 elections, the INEC chairman said more than 1.4 million ad hoc staff would be engaged, with corps members making up the majority.

“For the 2027 general election, we will require 707,384 ad hoc staff for the Presidential and National Assembly elections scheduled for January 16, 2027.

“The same number will be needed for the governorship and Houses of Assembly elections on February 6, 2027, making a total of 1,414,768,” he said.

He added that INEC would also require 52,446 corps members for the Ekiti and Osun governorship elections, as well as by-elections in Nasarawa, Enugu, Rivers, Ondo, Kebbi and Kano states.

Amupitan said corps members accounted for nearly 90 per cent of Registration Area Officers and Presiding Officers in many states during previous elections.

“These young Nigerians did not just facilitate voting; they protected the sanctity of the ballot in 176,846 polling units across some of the most difficult terrains in the country,” he said.

He further praised the corps members for their role in off-cycle elections, particularly the Anambra governorship election and the FCT Area Council polls.

According to him, their digital proficiency contributed significantly to the seamless operation of the Bimodal Voter Accreditation System.

“In those exercises, it was the digital proficiency of corps members that ensured the seamless performance of our BVAS, proving they are the tech-savvy backbone of our modern democracy,” he added.

Amupitan acknowledged the sacrifices made by corps members during elections and assured that INEC would continue to work with the NYSC and security agencies to strengthen safety measures and welfare packages for them.

As the 2027 general election approaches, we are committed to ensuring adequate mobilisation and preparedness of NYSC members for this important national assignment,” he said.

He also noted that the Ekiti and Osun governorship elections, scheduled for June 20 and August 15, respectively, alongside several by-elections, would serve as tests for innovations ahead of the 2027 elections.

Responding, Brig. Gen. Nafiu thanked INEC for its continued collaboration with the scheme.

He recalled that the Memorandum of Understanding between both organisations was signed in 2011 and had been periodically renewed.

Nafiu described corps members as credible, reliable and easily trainable manpower.

“The last batch of millennials will soon exit the scheme, leaving behind Gen Z corps members known for their digital savviness, which will benefit INEC,” he said.

He assured the commission of the NYSC’s continued support in both the 2027 general elections and upcoming off-cycle elections.

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