The European Union (EU) has kicked off a €300,000 grant aimed at boosting the institutional growth of Eurocham Nigeria. This initiative will help strengthen its secretariat, broaden its advocacy efforts, and improve external engagement for its members.

Eurocham Nigeria, or the European Chamber of Commerce in Nigeria, represents European businesses operating in the country.

The announcement was made by EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, during Eurocham’s 25th Annual Stakeholders Conference in Lagos on Thursday.

Mignot highlighted that this three-year grant will enhance Eurocham’s advocacy and policy dialogue efforts, fostering a better business climate through strategic collaboration with governments, policymakers, and other stakeholders.

“A highlight of 2024 I wish to underscore is the approval of a three-year €300,000 grant, awarded to Eurocham last year. This financial support will strengthen the Chamber’s administrative capacity and allow further expansion of external activities and advocacy work on behalf of its members,” he said. 

He also mentioned that this initiative would boost trade and investment prospects, benefiting both the European and Nigerian economies while strengthening the EU’s role as Nigeria’s key partner.

Enhancing EU-Nigeria trade ties  

Mignot emphasized the EU’s dedication to collaborating with Eurocham Nigeria, stressing the significance of solid governance and coordination with EU nations and bilateral chambers.

“By building on past achievements, we create greater opportunities in key areas such as trade, investment, and infrastructure development. It bears repeating that the EU remains Nigeria’s largest trading partner and a major source of foreign direct investment and development financing,”  he said.

Discussing the EU Global Gateway Strategy, a four-year plan aimed at improving infrastructure in Nigeria and other African nations, the EU is committed to ensuring its projects gain more recognition and visibility.

EU Ambassador Gautier Mignot pointed out some key projects funded through this initiative, such as: The Omi Eko water transport project, Digital skills training programs and Deployment of 90,000 km of fiber optic cables  

 “Investments in agriculture, renewable energy, vaccine manufacturing, and sustainable transportation are key objectives where we rely on the Chamber,” he added.

Mignot also highlighted the importance of Eurocham taking an active role in spotting opportunities, bringing together investors, and advocating for a favorable business climate.