EU Envoys Seek Stronger Coordination to Boost Nigeria–Europe Trade

European diplomats have called for closer collaboration among governments, businesses and development finance institutions to unlock the full trade potential between Nigeria and the European Union.

They made the appeal during a panel discussion on EU–Nigeria trade relations at the European Business Chamber in Nigeria (Eurocham) Annual Conference and Expo held in Lagos. The event was themed “Europe–Nigeria Partnerships for Industrial Growth, Financial Innovation and Sustainable Development.”

Speaking at the forum, the Head of the Foreign Trade Office in Nigeria at the Polish Investment and Trade Agency, Ms Justyna Sitarska, said that while several cooperation frameworks exist, including the EU’s Global Gateway initiative and bilateral engagements, converting these into practical, bankable business projects remains difficult.

She identified major obstacles such as limited market information, unpredictable regulatory and tax policies, foreign exchange risks and restricted access to finance.

Sitarska noted that structured trade missions can help bridge perception gaps, often fueled by negative media narratives, by allowing European and Nigerian partners to gain a clearer understanding of business realities on the ground.

According to her, successful trade deals require early-stage collaboration between private sector players, governments, investors and development finance institutions. She stressed that export credit agencies and development banks are vital in reducing risks during initial transactions, while sector-specific business engagements tend to yield better results.

Similarly, the Commercial Counsellor at the Austrian Embassy, Ms Barbara Lehninger, said broad policy frameworks must be supported by company-level solutions. She pointed to inconsistent policies, citing the introduction, suspension and reintroduction of the four per cent Free On Board (FOB) levy, which created uncertainty and added compliance costs for businesses.

The Consul General of Germany in Lagos, Mr Daniel Krull, said Nigeria should be viewed as part of the solution to global economic and geopolitical challenges. He highlighted the automotive sector as a promising area for deeper cooperation due to strong demand in Nigeria and across Africa.

Also speaking, the Policy Adviser for Economic Affairs and Public Diplomacy at the Netherlands Consulate, Mr Opeyemi Oriniowo, said global efforts to diversify trade dependencies present fresh opportunities for Nigeria. However, he warned that production limitations, scaling challenges and poor access to finance continue to prevent the country from fully benefiting from trade agreements.

Oriniowo added that investments are emerging in sectors such as energy, manufacturing, waste-to-energy, retail and agriculture, but remain below Nigeria’s true trade capacity with the EU.

On market entry challenges, Ms Jette Bjerrum of the Royal Danish Consulate General noted that Danish firms often take a long-term approach in Nigeria, supported by development finance institutions. She said security concerns, foreign exchange risks, procurement hurdles and legal barriers particularly affect small and medium-sized enterprises.

Meanwhile, the Consul General of France in Lagos, Mr Laurent Favier, said French companies have maintained a strong presence in Nigeria, employing about 16,000 Nigerians across various sectors. He described Nigeria as a strategic partner but highlighted visa challenges, infrastructure deficits and global perception issues as major concerns.

Favier, however, welcomed Nigeria’s ongoing macroeconomic and currency reforms, describing them as encouraging signals for long-term investors seeking deeper engagement.

Overall, European envoys agreed that stronger coordination, consistent policies and improved financing access are key to transforming Nigeria–EU trade cooperation into tangible economic growth.