European Union reaffirms commitment to investments in Nigeria and regional trade expansion
via Punch Nigeria3 min read
The European Union has reiterated its commitment to increasing investments in Nigeria and bolstering regional trade, recognizing Nigeria as a key economic hub with access to over 400 million consumers in West Africa. This commitment was made at the 10th Nigeria-European Union Business Forum in Lagos, where officials, business leaders, investors, and development partners from both regions explored new opportunities for trade, investment, and sustainable economic growth. Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, stated that Nigeria is one of the EU's most important partners in Africa and a priority for European investors. Kolawole Sofola, Director of Trade at the Economic Community of West African States Commission, highlighted that the ECOWAS Trade Liberalisation Scheme and the African Continental Free Trade Area offer investors a framework to access regional and continental markets of over 400 million and 1.4 billion people, respectively. Sofola encouraged investors to view Lagos as a gateway to wider regional and continental markets, identifying agro-processing, manufacturing, renewable energy, infrastructure, and the digital economy as sectors with strong investment potential. The forum, themed "Enhancing Sustainable Investment Together," focused on strengthening commercial partnerships and promoting private-sector-led growth, with participants emphasizing the need for improv
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Denmark experienced its hottest day on record on Saturday, with the Danish Meteorological Institute reporting a temperature of 37.0C. This new record was set in both Beldringe, north of Odense, and Odum, north of Aarhus, surpassing the previous high of 36.4C from August 1975. The DMI initially announced 36.6C, but the record was broken again within an hour. The heatwave, which has affected much of Europe, led many in Copenhagen to seek relief in fountains and the harbor. Environmental engineer Lasse Fjeldgaard, 26, described feeling like he was "slowly melting away," while Serine Helland, a 28-year-old consultant, advised staying hydrated and in the shade. The record coincided with the Roskilde music festival, where attendees faced challenges with the heat. Meteorologist Peter Tanev of TV2 noted that scientists had anticipated this record due to global warming, suggesting it is likely "only a matter of time" before Denmark reaches 40 degrees. Other European countries have also seen record-breaking temperatures, with an AFP analysis indicating nearly 200 million people would experience temperatures above 35C on Saturday, leading to heat-related illnesses and saturated emergency services.
Must ReadA newborn baby was rescued from a collapsed building in La Guaira, Venezuela, 32 hours after twin earthquakes struck the coastal city. Videos shared on social media show rescuers pulling the 18-day-old infant from the rubble on Friday. The baby, reportedly uninjured, was passed carefully among rescuers. The child's mother was rescued an hour later and was shown in a follow-up video in a hospital, where a medical worker suggested she might have protected the baby with her body. The earthquakes, measuring magnitudes 7.2 and 7.5, occurred on Wednesday, killing at least 920 people and injuring or leaving thousands more missing.
BUA Cement Plc has provided agricultural inputs valued at N108 million to 211 resettled farmers in its host communities in Sokoto State. This initiative aims to support food production for the 2026 wet farming season. The beneficiaries are farmers whose homes and farmlands were impacted by the company鈥檚 expansion projects and subsequently relocated. Ali Gumel, Director of Health, Community Safety and Environment at BUA Group, stated that the intervention highlights the company's dedication to supporting vulnerable communities through corporate social responsibility. He emphasized that agriculture is vital to Sokoto State's economy and assisting displaced farmers will enhance food security and household incomes. The support package includes improved seed varieties, fertilizers, agrochemicals, and small-scale farming tools. Abubakar Dan Maliki, Programme Manager of the Sokoto Agricultural Development Project, received the items and noted the timely nature of the donation, which will help reduce production costs for affected farmers and enable them to resume farming activities. Community leaders and agricultural extension officers also praised BUA for the intervention, recognizing its importance in restoring farming capacity and improving food production for displaced households.