The Federal Government has paid up the backlog of debts to European airlines to the tune of $850m.
The European Union Ambassador to Nigeria and the ECOWAS, Samuela Isopi, revealed this at the 9th edition of the Nigeria-EU Business Forum in Abuja on Tuesday.
She commended the government for clearing the backlog and removing foreign exchange restrictions on the import of 43 items.
Isopi noted that Nigeria remains the EU’s largest trading partner, with trade relations worth about 35 billion euros last year. She also highlighted that the EU is Nigeria’s biggest foreign investor, with investments valued at 26 billion euros, making up one-third of Nigeria’s foreign direct investment.
Isopi added that over 230 EU companies operate in Nigeria, providing jobs for youths and women.
The meeting, themed ‘Investing in Jobs and Sustainable Future’, featured the Director General at the EU, Myriam Ferran; the Minister of Budget and National Planning, Atiku Bagudu; and the Permanent Secretary at the Ministry of Industry, Trade and Investment, Nura Rimi.
The forum aims to foster dialogue between the public and private sectors and highlight the government’s role in supporting businesses for inclusive development.
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