Sustainable investment key to Nigeria–EU economic future, says De Luca

By Kennedy Mbele

As Nigeria seeks to attract greater investment and expand opportunities for businesses, the European Union and the Federal Government of Nigeria will convene the 10th Nigeria–EU Business Forum on 25 June 2026 in Lagos. 

The Forum will bring together government officials, investors, financiers, and private sector leaders from Nigeria and Europe to explore opportunities in key sectors of the economy. In this interview, the Head of Cooperation of the European Union Delegation to Nigeria and ECOWAS, Massimo De Luca, discusses investment prospects, the EU’s Global Gateway strategy, private sector partnerships, and the role of the Forum in strengthening economic cooperation between Nigeria and Europe.

The Nigeria–EU Business Forum is returning for its 10th edition. Why is this year’s Forum particularly significant?

It is significant because the global economic conversation is changing rapidly, and partnerships are becoming increasingly strategic.

Across the world, governments, investors, and businesses are reassessing supply chains, energy systems, digital infrastructure, industrial capacity, and long-term investment priorities. In that environment, Nigeria remains one of Africa’s most important economies and a major market for future growth.

The Nigeria–EU Business Forum reflects the evolution of the relationship between Nigeria and the European Union from traditional development cooperation towards deeper economic and investment partnerships.

This is no longer simply a conversation about cooperation. It is increasingly a conversation about competitiveness, investment, infrastructure, innovation, and long-term economic opportunity.

The 10th edition therefore comes at an important moment for both Nigeria and Europe.

What is the European Union seeking to achieve through this year’s Forum?

The objective is straightforward: strengthen economic cooperation through practical engagement between investors, businesses, policymakers, and financial institutions.

The Forum is designed to move conversations from interest to implementation.

We want to support commercially viable partnerships, deepen investor confidence, showcase opportunities across strategic sectors, and create direct engagement between decision-makers and the private sector.

The European Union sees Nigeria as a strategic partner with significant long-term potential driven by entrepreneurship, innovation, demographics, and regional influence. The EU is already one of Nigeria’s largest economic partners, with European Foreign Direct Investment (FDI) stock estimated at over €38 billion, constituting roughly one-third of Nigeria’s total overall FDI stock. European companies maintain a strong long-term presence, primarily concentrated in manufacturing, logistics, storage, and energy, bringing investment, technology, industrial expertise, and global market experience.

The Forum creates a platform where those strengths can connect in a practical and results-oriented way.

How would you describe the Nigeria–EU economic relationship today?

It is broad, strategic, and increasingly future-focused.

The European Union remains one of Nigeria’s largest trading and investment partners, but the relationship today extends far beyond trade volumes. We are seeing growing cooperation across energy, digital infrastructure, manufacturing, healthcare, transport, agribusiness, and innovation ecosystems.

European companies have maintained a long-standing presence in Nigeria because they recognise the scale of opportunity and the long-term importance of the market.

At the same time, Nigeria’s economic trajectory increasingly reflects sectors where Europe has strong investment capacity and technical expertise, particularly renewable energy, sustainable infrastructure, industrial value chains, digital systems, and green growth.

What matters now is how to accelerate implementation, strengthen confidence, and scale partnerships capable of delivering long-term economic value.

Why is there such strong emphasis on private sector participation at this year’s Forum?

Because sustainable economic growth is ultimately driven by enterprise, investment, productivity, and innovation.

Governments create enabling environments, but businesses create industries, technologies, jobs, and scalable economic solutions.

One of the defining realities of today’s global economy is competition for investment. Investors are increasingly focused on markets where there is clarity, ambition, policy direction, and long-term opportunity.

The Nigeria–EU Business Forum is therefore designed to bring together the actors capable of shaping investment outcomes: governments, development finance institutions, investors, regulators, entrepreneurs, and business leaders.

Importantly, the Forum is also structured around practical engagement. Investors want access to opportunities and decision-makers. Businesses want partnerships. Policymakers want to understand constraints affecting growth and competitiveness.

The value of the Forum is that it creates one platform where those conversations can happen directly and constructively.

How does the Forum connect with the European Union’s Global Gateway strategy?

Global Gateway reflects the European Union’s long-term investment approach to infrastructure, clean energy, digital connectivity, transport, health systems, education, and sustainable value chains that work for the people and the planet.

It is built around the idea that strong economies require strong systems, trusted partnerships, and sustainable investment.

In Nigeria, this is already translating into cooperation across renewable energy, digital infrastructure, healthcare, education, and connectivity.

The Business Forum provides an opportunity to connect those priorities with businesses, investors, and institutions interested in long-term engagement.

What distinguishes Global Gateway is its emphasis on quality investment, transparency, sustainability, and mutually beneficial partnerships.

The objective is not simply to finance projects. It is to support economic ecosystems capable of driving resilience, competitiveness, industrial growth, and long-term prosperity.

Which sectors do you believe present the strongest opportunities for Nigeria–EU cooperation?

Energy remains one of the most important.

Reliable energy access is fundamental to industrialisation, manufacturing, digital growth, healthcare, productivity, and economic competitiveness. Nigeria’s renewable energy sector, particularly off-grid and distributed energy solutions, continues to present major investment opportunities. Over time, we have supported the market from the mini-grids rural electrification projects, towards increasingly larger scale investments in solar and hydropower.

Digital transformation is another important area. Nigeria has one of Africa’s most dynamic technology ecosystems, with significant potential across connectivity, fintech, innovation, artificial intelligence, and digital entrepreneurship. Our engagement in projects such as BRIDGE (90Kkm of fibreoptic cable rollout across the country), 3MTT (digital skills development for youth), or Omniverse summit with the Nigerian Innovation Support Network are only a few highlights of the growing partnership in this area.

Agribusiness also remains strategically important because of its links to food systems, exports, processing, manufacturing, and employment. The EU agro-food companies already have a strong footprint in Nigeria, but we increase our efforts in sectors such as dairy and cocoa to develop Nigerian agriculture growth and economic diversification potential.

We are also seeing strong opportunities across transport infrastructure (Omi Eko, Lagos waterways project), logistics, healthcare (with PVAC), industrial manufacturing, and the creative economy.

Nigeria’s entrepreneurial energy, youthful population, and market scale continue to position the country as an important destination for long-term economic engagement.

What message would you like investors and businesses to take away from this year’s Forum?

That this is a moment for strategic engagement and long-term thinking.

Nigeria remains one of the most important economic actors on the African continent, with substantial opportunities across energy, infrastructure, manufacturing, digital innovation, and agribusiness.

At the same time, the European Union remains committed to partnerships that support sustainable growth, investment, and economic resilience.

Businesses today are increasingly looking beyond short-term transactions towards long-term partnership opportunities capable of delivering scale and sustainability.

That is why platforms such as the Nigeria–EU Business Forum matter and why the EU remains Nigeria’s trusted and committed partner over time.

Economic transformation is ultimately driven by investment, implementation, and partnerships that endure.

What should participants expect from the 10th Nigeria–EU Business Forum?

Participants should expect concrete opportunities for business-to-business engagement, strategic networking, investment conversations, and direct interaction with stakeholders shaping the future of Nigeria–EU economic cooperation.

There will also be high-level conversations focused on investment, competitiveness, innovation, and economic growth. The Forum will convene senior government officials, investors, development finance institutions, business leaders, entrepreneurs, and international partners for discussions centred on practical economic outcomes.

Most importantly, participants should expect a platform focused not simply on dialogue, but on opportunity and implementation.

Finally, why should stakeholders prioritise attending the Forum?

Because economic partnerships are increasingly shaped by direct engagement, strategic relationships, and long-term confidence.

The global economy is evolving rapidly. Markets are shifting. Energy systems are changing. Digital economies are expanding. Investment priorities are being redefined.

In that environment, platforms that bring together investors, governments, institutions, and businesses become increasingly important.

The Nigeria–EU Business Forum provides a space where those conversations can happen not only at the highest level but at the most down-to-earth deal-making.

That is what this Forum is designed to support.

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