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Nigeria, EU trade volume rise €25.3 billion in 2017

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Thursday, 03 May 2018

Nigeria, EU trade volume rise €25.3 billion in 2017

The Head of the European Union (EU), delegation to Nigeria and Economic Community of West African States (ECOWAS), Ketil Karlsen, on Wednesday, said the Nigeria, EU trade increased from about €19.9 billion in 2016 to about ‎€25.3 billion in 2017. Karlsen stated this in Abuja, while briefing journalists on the activities of the European Union in partnership with Nigeria on elections, security, anti-corruption, migration, investment and economic development in 2018, he said from 2015 -2017 the European Union has spent ‎€144 million in humanitarian support in the northeast and has set aside ‎€ 34 million in 2018. He said the EU since 1999 has supported Nigeria with ‎€100 million during election and currently supporting Nigeria with ‎€26.5 million for the 2019 election. According to him, “And of course Trade and investment is an integral part of our partnership, President Muhammadu Buhari has always stressed the importance of economic partnership and EU remain a significant trading partner for Nigeria it is around ‎€25.3 billion altogether in 2017. In 2016 it was ‎€19.9 billion. Already we are doing a lot together. And we are looking at how we can contribute to the long term development of Nigeria through diversification and inclusive growths and key value chain. “European Union has been observing election in Nigeria since 1999. In the 2015 election there were 30 recommendations, we are partnering with key stakeholders and since 1999 we have supported key election issues with ‎€100 million and currently we are supporting with E26.5 million. There is a full package of support for Nigeria in the running election. It is not for us to decide who should be Nigeria leaders but we can partner with institutions”.

Source: Business Day