FG Clears $850m Debt To EU Airlines

 

The Federal Government has revealed it has cleared a backlog of debts to European airlines to the tune of $850m.

 

The announcement was made on Tuesday by the European Union Ambassador to Nigeria and the ECOWAS, Samuela Isopi, at the Ongoing- 9th edition of the Nigeria – EU business forum in Abuja.

 

While speaking, she commended the government for its intervention in clearing the backlog, as well as the removal of foreign exchange restrictions on the import of forty-three items.

 

She explained that Nigeria remains the EU’s largest trading partner, with about 35 billion Euros in trade relations in the last year.

 

She also said that Nigeria is the E.U’s biggest foreign investor, with a stock estimated at 26 billion Euros, representing one-third of Nigeria’s foreign direct investment.

 

Isopi added that over 230 EU  companies operate in Nigeria, providing jobs for youths and women.

 

The meeting with the theme ‘Investing in Jobs and Sustainable Future’, others in attendance include the Director General at the EU, Myriam Ferran, the Minister of Budget and National Planning, Atiku Bagudu, and the Permanent Secretary at the Ministry of Industry, Trade and Investment, Ambassador Nura Rimi.

 

The forum is expected to create a platform for dialogue between the public and the private sector, as well as highlight the role of government in  supporting businesses towards achieving inclusive development.