The European Union Ambassador to Nigeria and ECOWAS, Gautier Mignot, has expressed optimism about Nigeria’s investment outlook, describing the country as a destination with significant untapped potential despite existing business and regulatory challenges.
Speaking during an interview on ARISE News ahead of the 10th Nigeria-EU Business Forum, Mignot said ongoing economic reforms and renewed investor interest are strengthening Nigeria’s attractiveness to foreign investors.
“We think that there is a huge untapped potential in terms of investment,” he said.
According to Mignot, the European Union is working to unlock investment opportunities in Nigeria through its Global Gateway Strategy, which seeks to mobilise private sector capital and support sustainable development.
He stated that Nigeria offers attractive returns for investors and remains a key partner for the EU in Africa.
“We are looking with optimism at Nigeria,” he stated.
Mignot identified digital infrastructure, renewable energy, healthcare, climate-smart agriculture, transportation and manufacturing as some of the sectors with strong prospects for deeper collaboration between Nigeria and European businesses.
“We see many sectors of opportunities,” he said.
The ambassador highlighted the Federal Government’s broadband expansion initiative, which aims to deploy 90,000 kilometres of fibre optic infrastructure across the country, as an example of projects attracting European support and investment.
According to him, the EU is supporting the project through grants and financing arrangements while encouraging private sector participation from European firms.
Mignot acknowledged that several obstacles continue to affect investment decisions, including regulatory bottlenecks, administrative processes, infrastructure deficits, power supply challenges and issues relating to the ease of doing business.
“There is also an issue of available skills and availability of constant power supply and connectivity,” he said.
He added that the upcoming Nigeria-EU Business Forum would provide a platform for policymakers, investors and business leaders to address these challenges and explore new opportunities for trade and investment.
“We hope that the forum will help create new partnerships or consolidate existing ones and also help strike new deals,” he stated.
Mignot also encouraged more European companies to consider Nigeria as an investment destination, arguing that many businesses already operating in the country continue to generate positive returns.
“Investors who are already in Nigeria are satisfied with their investments and are making money,” he said.
Mignot expressed confidence that stronger investment flows, increased trade and the successful implementation of major infrastructure projects would further deepen economic cooperation between Nigeria and the European Union in the years ahead.
Ojo Triumph
Follow us on:
