Sustainable Investment Is Crucial to Nigeria–EU Economic Future, Says De Luca

By Kennedy Mbele

To attract more investment and broaden business opportunities, the European Union and the Nigerian Federal Government will host 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 economic sectors. In this interview, Massimo De Luca, Head of Cooperation of the EU Delegation to Nigeria and ECOWAS, discusses investment prospects, the EU’s Global Gateway strategy, private‑sector partnerships, and the Forum’s role in deepening economic cooperation between Nigeria and Europe.

Why is this year’s Forum particularly significant?

It comes at a time when the global economic landscape is shifting rapidly, and partnerships are becoming more strategic. Governments, investors and businesses worldwide are reassessing supply chains, energy systems, digital infrastructure, industrial capacity and long‑term investment priorities. In that context, Nigeria remains one of Africa’s most important economies and a major growth market.

The Forum reflects the evolution of Nigeria–EU relations from traditional development cooperation to deeper economic and investment partnerships. It is no longer just a conversation about cooperation; it increasingly concerns competitiveness, investment, infrastructure, innovation and long‑term economic opportunity. The 10th edition therefore arrives at a critical moment for both sides.

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, supporting commercially viable partnerships, deepening investor confidence, showcasing opportunities across strategic sectors and creating direct engagement between decision‑makers and the private sector.

The EU views 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 FDI stock estimated at over €38 billion—about one‑third of Nigeria’s total FDI stock. European companies maintain a strong long‑term presence, mainly in manufacturing, logistics, storage and energy, bringing investment, technology, industrial expertise and global market experience. The Forum provides a platform where those strengths can connect in a practical, results‑oriented way.

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

It is broad, strategic and increasingly future‑focused. The EU remains one of Nigeria’s largest trading and investment partners, but the relationship now extends far beyond trade volumes. Cooperation is growing 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 market’s long‑term importance. 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 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 Forum’s value lies in creating 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 EU’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 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, the EU has supported the market from mini‑grid rural electrification projects to 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. EU engagement in projects such as BRIDGE (90 km of fibre‑optic cable rollout across the country), 3MTT (digital skills development for youth) and the Omniverse summit with the Nigerian Innovation Support Network are 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. EU agro‑food companies already have a strong footprint in Nigeria, but efforts are increasing in sectors such as dairy and cocoa to develop Nigerian agriculture growth and economic diversification potential.

Strong opportunities also exist 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?

It 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 EU 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 enduring partnerships.

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. High‑level discussions will focus 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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