Nigeria advances economic reforms and green partnership with the EU

Nigeria’s Lagos State Government and the Abuja Chamber of Commerce and Industry (ACCI) urged sustained reforms, stronger public‑private collaboration and infrastructure investment at the WorldStage Business Forum. The state highlighted a 6.59% GDP rise to N43.1 trillion in 2023, a 30.2% year‑on‑year expansion, and ongoing projects such as rail lines, water transport, smart taxis, food hubs and loans to MSMEs.

At the same forum, Nigerian and European leaders discussed deepening the EU‑Nigeria relationship beyond investment, focusing on green industrialisation. The EU pledged more than €560 million for digital infrastructure, green enterprise development and the Lagos Omi‑Eko project. Proposals included a Clean Trade and Investment Partnership and a Green Industrial Compact to channel funding into renewable energy, electric mobility, agro‑processing and low‑carbon manufacturing.

Both sides stressed the need to translate policy ambition into implementation, aiming to boost Nigeria’s non‑oil sector, create jobs and position the country as a manufacturing hub under the African Continental Free Trade Area.