The European Union (EU) has announced a three-year grant of €300,000 to enhance the operations of the European Chamber of Commerce (Eurocham) Nigeria, reinforcing trade relations and business advocacy between Europe and Nigeria.

EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, disclosed the financial support during Eurocham’s 25th Annual Stakeholders Conference in Lagos. He described the grant as a strategic step toward improving EU-Nigeria trade ties.

“This financial support will allow the Chamber to strengthen its Secretariat’s administrative capacity and expand external activities and advocacy work on behalf of its members,” Mignot said.

The initiative aims to bolster Eurocham’s role in policy dialogue and engagement with local governments, policymakers, and businesses, fostering a more conducive business environment.

Mignot highlighted that the EU remains Nigeria’s largest trading partner and a significant source of foreign direct investment and development financing. He linked the grant to the broader EU Global Gateway Strategy, a four-year initiative designed to enhance infrastructure development in Nigeria and other African nations.

“Nigeria will feature prominently in the investment package, covering areas such as digital skills, e-governance, and the deployment of 90,000 km of fibre-optic cables across the country,” he noted.

He also emphasized the EU’s commitment to transformative projects such as the Omi Eko water transportation initiative and investments in agriculture, renewable energy, local vaccine production, and sustainable transportation.

The EU’s financial backing of Eurocham is expected to drive further collaboration between European businesses and Nigerian stakeholders, opening new opportunities for trade and investment in the region.