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EU delegation, executives brainstorm Nigeria's business environment

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An EU business executive said hurdles for investors in Nigeria range from ease of doing business, dealing with regulators, to foreign exchange, among others.

A delegation of European Union officials on Saturday in Lagos held a meeting with members of theto discuss opportunities and challenges of doing business in the country.

“The European Union as a bloc is already Nigeria’s largest trading partner and also the European Union is a very important investor in Nigeria. We have European companies that have been here for a long time, that contribute to creating jobs and to the economic development of the country.” The meeting afforded members of EuroCham to highlight some of the challenges their businesses face in the country.

Nigeria’s trade with the EU consists essentially of crude oil exports to Europe and refined oil products back to the country. “So, if you look on social media you will see European companies like Arla, Danone, Friesland Campagna who are setting up factories here to actually develop the sectors in the country.”

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