Tag: economy

Nigeria & EU Partner To Facilitate Investment Flow

Nigeria and the European Union (EU) have agreed to enhance cooperation in the areas of corruption, security and economy, to facilitate investment flow from the EU states into Nigeria.

EU Ambassador and Head of EU delegation to Nigeria and Economic Community of West African States (ECOWAS) Michell Arion led the EU delegation to the dialogue. Nigeria Foreign Affairs Minister Geoffrey Onyeama led other ministry officials to the meeting.

Briefing reporters, Arion said the meeting focused on Buhari’s three-point agenda of security, economy and corruption as well as others, which include irregular migration and the humanitarian situation in the Northeast. The envoy said that EU and Nigeria could work together for mutual benefits of both parties and enhance peace, security and economic cooperation.

In his words:

“We believe that our prosperity is your prosperity. We see West Africa as a block of ECOWAS and Nigeria as the economic base. We see West Africa not as export designation for the EU but investment destination for EU; we don’t have hidden agenda. I will say that what we can do is to facilitate the EU investment in Nigeria, not only at the level of bilateral relations but in other fora. I believed that there are a lot of things we can do together basically in two main areas one is peace and security. We really believed that our security in the EU is your security; I believe we are fighting the same terrorists.”

Onitsha and Indianapolis Agree on Economic Partnership [2017]

Onitsha and Indianapolis represented respectively by the Obi of Onitsha Igwe Nnaemeka Alfred Achebe and Indianapolis Mayor Joe Hogsett have signed a formal Sister Cities International agreement on economic and business opportunities at the Indianapolis Museum of Art.

Onitsha is considered the crossroads of Nigeria being a port city on a key crossing point of the Niger River as well as one of Africa’s largest cities – an opportunity Indianapolis aims to benefit from as it seeks to expand its global footprint and fuel business opportunities.

According to Indianapolis Mayor Joe Hogsett:

“We have no presence whatsoever in the entire continent. This is the first step into an area for the city of Indianapolis to explore economic opportunity on a continent that is not only heavily populated but that has enormous potential.” 

In the words of the Obi of Onitsha Igwe Nnaemeka Alfred Achebe:

“Onitsha and Indianapolis can have a beneficial relationship. The imminent needs and challenges (of Onitsha) are in the area of energy, small scale energy based on solar and wind energy for empowering small communities or even small towns.”

Despite its oil-rich economy, a lack of infrastructure and inadequate power supplies hobble the nation of more than 186 million people, according to the CIA’s World Factbook.

Achebe said Onitsha is a center for trade and manufacturing and is the largest center for wholesale distribution of pharmaceuticals in Nigeria. He said leaders there are interested in attracting businesses and exposing their cultural traditions to Indiana residents.