Nigerian Government Clears $850m Debt To European Airlines

A total of $850 million has been paid by the Nigerian government toward the outstanding debt owed to European airlines.

Samuela Isopi, the ambassador of the European Union to Nigeria and the ECOWAS, made this revelation on Tuesday at the ongoing ninth Nigeria-EU business forum in Abuja.

In her speech regarding to the debts paid to the European Airlines, she applauded the government’s action in reducing the backlog and lifting the limitations on the import of forty-three commodities due to foreign exchange. With around 35 billion euros in commercial relations over the previous year, she clarified, Nigeria continues to be the EU’s top trading partner.

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She added that, with a stock valued at 26 billion euros, or one-third of its foreign direct investment, Nigeria is the largest foreign investor in the European Union.

Isopi further mentioned that more than 230 EU businesses employ women and young people in Nigeria.

Atiku Bagudu, the Minister of Budget and National Planning, Myriam Ferran, the Permanent Secretary of the Ministry of Industry, Trade and Investment, and Ambassador Nura Rimi were among those present at the conference with the theme “Investing in Jobs and Sustainable Future.”

It is anticipated that the conference will establish a venue for communication between the public and private sectors and emphasize the part that government plays in assisting companies in attaining equitable growth.

Gentle Reminder: Be careful how you use your authority and influence, be wise, and treat others with respect.

Chychy Jonas