By Enyichukwu Enemanna
European Union Ambassador to Nigeria and the ECOWAS, Samuela Isopi has confirmed the payment of $850m backlog of debts to European airlines by the Nigerian Government.
At the 9th edition of the Nigeria-EU Business Forum in the nation’s capital Abuja on Tuesday, Isopi commended the Nigerian authorities for clearing the backlog as well as the removal of foreign exchange restrictions on the import of forty-three items.
Nigeria remains the EU’s largest trading partner with about 35 billion Euros in trade relations in the last year, Isopi noted.
The West African nation 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, she also stated.
The EU envoy underlined that over 230 EU companies operate in Nigeria, providing jobs for youths and women.
At the meeting themed, ‘Investing in Jobs and Sustainable Future’, the Director General at the EU, Myriam Ferran; Nigeria’s Minister of Budget and National Planning, Atiku Bagudu, and the Permanent Secretary at the Ministry of Industry, Trade and Investment, Nura Rimi were in attendance.
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.
Heritage Times HT recalls that the International Air Transport Association (IATA) had last year accused Nigeria of withholding $743 million in revenue earned by international carriers operating in the country, the highest amount owed by any nation.
Spokesperson of IATA, Katherine Kaczynska, said governments around the world owed $2.2 billion to airlines.
Nigeria it says had the highest amount of blocked funds, followed by Algeria and Lebanon, which owed $165 million and $146 million respectively.
