BUSINESS
Tinubu’s Reforms Boost Investor Confidence as Foreign Firms Profit in Nigeria — EU Envoy
The European Union Ambassador to Nigeria and ECOWAS Gautier Mignot, has declared that Nigeria is becoming increasingly attractive to foreign investors, with many international businesses already operating in the country reporting strong returns on their investments.
Speaking ahead of the Nigeria–EU Business Forum on ARISE News, Mignot said recent economic reforms introduced by President Bola Ahmed Tinubu were helping to improve investor confidence and positioning Nigeria as a key destination for foreign capital.
According to the envoy, Nigeria possesses enormous untapped economic potential despite facing challenges related to infrastructure, bureaucracy and skills development.
“We think that there is a huge untapped potential in terms of investment,” Mignot said, adding that the European Union remains optimistic about the country’s economic outlook.
He noted that the EU, through its Global Gateway Strategy, is working to mobilise private-sector investment and support critical sectors of the Nigerian economy, including digital infrastructure, energy, healthcare, agriculture, transportation and manufacturing.
“We see many sectors of opportunities,” he said.
Mignot disclosed that the EU is already supporting Nigeria’s broadband expansion programme as part of efforts to strengthen digital connectivity and drive economic growth.
While acknowledging persistent challenges such as unreliable power supply, limited access to skilled labour and regulatory bottlenecks, the envoy expressed confidence that ongoing reforms and partnerships would help unlock greater investment opportunities.
“There is also an issue of available skills and availability of constant power supply and connectivity,” he noted.
He said the forthcoming Nigeria–EU Business Forum is expected to deepen economic cooperation between both sides and create new avenues for investment and business partnerships.
Highlighting the experience of existing foreign investors, Mignot said many companies operating in Nigeria continue to record profitable outcomes despite the operating environment.
“Investors who are already in Nigeria are satisfied with their investments and are making money,” he said.
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