Archive Nigeria’s trade index with EU drops to €29bn

Nigeria’s trade index with EU drops to €29bn


- Advertisment -

Nigeria’s total trade with the European Union (EU) which stood at €39bn in 2014, accounting for 31 per cent of Nigeria’s total trade, has dropped to €29bn in 2015.

Speaking at the pre-event press conference of the fifth EU-Nigeria business forum (EUNBF), held at the Eko Hotel, Lagos, the Head of Trade and Economic,  EU, Mr Filipo Amato, said that the EU investment stock in Nigeria grew from €23.8bn in 2013 to €25.3bn in 2014.

He, however, said that with the fall in oil prices, EU-Nigeria trade declined by 26.7 per cent, to €29bn last year.

“Nigerian exports to EU declined by 35 per cent while imports declined by seven per cent over the period,” he said.

“Unfortunately, about 97 per cent of the exports to the EU are oil and gas.”

Amato said that the forum was designed to strengthen the business relations between the country and the EU through identification of opportunities in the global textile value chain, exposing Nigerian small and medium enterprises (SMEs) to opportunities in the EU market through the platform of the Enterprise Europe Network (EEN) and exploring financing options available for funding the power sector and diversifying the energy mix in the country.


Please enter your comment!
Please enter your name here

Latest news

COVID-19: Nigeria to Launch 38 oxygen Plants Across the Country

President Muhammadu Buhari has given the go ahead for the launching of at least 36 oxygen plants across the...

Minister Talks Tough On Violence Against Women, Girls

By IJEOMA UKAZU | ...Says Nigeria Must Mainstream Gender Following the high rate of Violence Against Women And Girls, VAWG in...

Christian Aid Appoints First Director Based Outside the UK

Christian Aid has appointed its first director based outside the UK. Nigeria-based Ojobo Ode Atuluku will join the charity at the...

Lauretta Onochie’s Affiliation with APC Makes Her Unfit as INEC National Commissioner – KDI

Kimpact Development Initiative (KDI) has expressed concern on the nomination of Ms. Lauretta Onochie, a political appointee and Senior...

Schools must be Open, Accessible and Safe from Attacks, say African children

African children speak out about how the COVID-19 pandemic tipped an existing education safety crisis to breaking point While the...

Day of the African Child: Nigeria Children Advocates For A Better Continent

By IJEOMA UKAZU |  "There are children out there who are vulnerable to violence, exposed to danger, forced into labour,...

Must read

Minister Talks Tough On Violence Against Women, Girls

By IJEOMA UKAZU | ...Says Nigeria Must Mainstream Gender Following the...
- Advertisement -

You might also likeRELATED
Recommended to you

%d bloggers like this: