Nigeria Gains €9.2bn in FDI from Netherlands

In a testament to the robust economic collaboration between Nigeria and the Netherlands, the African nation secured a substantial foreign direct investment (FDI) influx of €9.2 billion in 2021. This positive development coincides with the renewal and extension of the Memorandum of Understanding (MoU) between the two countries, encompassing various spheres including politics, economics, migration, and consular affairs.

Jessica Odudu, a senior policy advisor at the Embassy of the Kingdom of the Netherlands, underscored the significance of this partnership, emphasising its potential for further growth. The bilateral engagement, spanning back to 1593, has fostered a deep-rooted relationship that continues to flourish across diverse domains.

The recent bilateral meeting, spearheaded by the Minister of Migration from the Netherlands, reaffirmed the commitment of both nations to tackle pressing issues such as irregular migration and human trafficking. Such collaborative efforts aim to safeguard the security, welfare, and dignity of Nigerian citizens while strengthening bilateral ties.

During the meeting, Nigeria’s Ministry of Interior, represented by Dr. Aishetu Gogo Ndayako, expressed eagerness to bolster cooperation and renew the MoU on Migration. The Nigerian government remains steadfast in its resolve to address migration challenges effectively, leveraging the expertise of various agencies and institutions.

Odudu reiterated the Netherlands’ dedication to sustainable stability and prosperity in Nigeria through enhanced trade, investment, and socio-economic participation. The MoU renewal underscores a shared commitment to addressing joint priorities and fostering positive socio-economic change.

Guided by the MoU’s framework, the Netherlands pledges to deepen bilateral engagement across politics, economics, and migration/consular affairs. This collaborative approach sets the stage for annual consultations to delve into key areas of cooperation and navigate shared challenges effectively.