ABUJA- Nigeria’s trade authority has called for a strategic shift in European investment, urging the EU to integrate the country’s Special Economic Zones (SEZs) into global value chains to move beyond a reliance on raw material exports.
In a statement signed by Martins Odeh, NEPZA’s Head of Corporate Communications, the authority argued that deepening ties within these industrial hubs would bolster economic resilience for both regions. Speaking at a trade facilitation meeting at the European House in Abuja on Monday, Olufemi Ogunyemi, Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), told European diplomats that the current global economic shift requires “diversified and resilient” partnerships.
Moving beyond raw materials
While the EU remains Africa’s primary trading partner—with trade in goods reaching approximately €355 billion in 2024—Mr. Ogunyemi noted that the relationship remains heavily skewed toward the export of unprocessed African commodities.”The persistence of a trade structure dominated by Africa’s raw material exports presents a shared strategic challenge,” Mr. Ogunyemi said. He warned that an overreliance on primary goods without “meaningful value addition” continues to stifle industrial growth and limit human capital development in West Africa.
Strategic alignment
The pitch to European ambassadors and heads of delegation centered on using Nigeria’s SEZs as a buffer against global supply chain volatility. By processing goods within Nigeria’s tax-advantaged zones, NEPZA argues that European firms can:
Reduce dependency on narrow sets of global suppliers.
Safeguard critical supply chains by diversifying production locations.
Boost industrialization within West Africa’s most dynamic growth corridors.
The meeting comes as European leaders increasingly look toward Africa to secure “strategic autonomy” in their economic relations. Mr. Ogunyemi suggested that the infrastructure provided by NEPZA offers a ready-made platform for European member states to align their economies with African industrial goals.
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