The he European Union (EU) has concluded arrangements to support Nigeria with a whopping 600 million euro targeted at addressing certain socio-economic problems in the country, the Leadership newspaper reported on Saturday.
Dennis Thieulin, leader of the EU visiting delegation stated this in Abuja to Nigeria's Minister of Commerce and Industry Achike Udenwa, noting that the fund would be directed to areas such as security, especially in the Niger Delta region, Xinhua reported.
He said that other areas to be focused on include trade promotion, encouraging and strengthening the African integration process, as well as promoting good governance in the country.
Thieulin explained that the European Union is poised to help develop Nigeria 's non-oil sector of the economy, adding that African regional integration is very germane to the growth and development of the continent.
According to him, the feasibility studies that required before embarking on the non-oil sector development will commence soon this year, adding that EU is very committed to this.
Responding, the Nigerian minister of Commerce and Industry noted with nostalgia that EU has remained the most important trade ally to Nigeria since the colonial era.
The minister asked for more access to the EU market for Nigeria.
He told the delegation that the present administration is committed to exporting finished and semi-finished products, minimizing importation of products that can otherwise be produced locally, and developing the non-oil sector of the economy, among others.
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