By Stanley Onyekwere
In a strategic move to position Nigeria’s capital as a premier destination for foreign capital, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, has called on European Union (EU) member states to transition from diplomatic cooperation to active investment partnerships.
Addressing a high-level assembly of EU Heads of Mission on Tuesday, Wike pitched the FCT as a “business-friendly” hub, specifically seeking European expertise and funding in real estate, agriculture, solid minerals, and waste management.
The meeting, chaired by Ambassador Gautier Mignot, included envoys from 17 European nations, including Germany, France, Italy, and Sweden.
Wike framed the invitation within the context of President Bola Ahmed Tinubu’s “Renewed Hope” agenda, emphasizing that Abuja is undergoing a rapid infrastructural transformation designed to support a modern economy.
He provided the envoys with a candid overview of Nigeria’s evolving political and fiscal landscape.
He addressed the “bold and difficult” reforms undertaken by the Tinubu administration, notably the removal of the fuel subsidy and the unification of foreign exchange rates.
“These reforms are aimed at repositioning the economy and improving citizens’ welfare by eliminating corruption-prone systems and freeing up public funds for social interventions,” Wike explained.
On the political front, Wike defended the integrity of Nigeria’s democratic growth, noting that the 2022 Electoral Act and a maturing judicial culture have reduced political violence.
He argued that Nigeria is moving toward a “governance-focused paradigm” where competence is beginning to outweigh ethnic or religious considerations.
Acknowledging the elephant in the room, the Minister did not shy away from the security challenges plaguing the Sahel region, including banditry and kidnapping.
However, he reassured the international community that the FCTA is investing heavily in intelligence gathering and inter-agency coordination to safeguard residents and investors alike.
Ambassador Mignot reaffirmed the EU’s position as Nigeria’s primary trade partner, signaling a willingness to explore the deeper collaboration Wike requested to foster the development of a “prosperous Abuja.”
