Foreign investors are increasingly seeing Nigeria as a profitable destination, with the European Union’s top envoy in the country saying many businesses already operating in Africa’s largest economy are making strong returns despite lingering challenges.

Speaking on ARISE News ahead of the Nigeria–EU Business Forum, the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, said Nigeria remains highly attractive to investors because of its vast economic potential and improving business environment. He noted that recent reforms have helped strengthen investor confidence.

“We think that there is a huge untapped potential in terms of investment,” Mignot said, adding that the EU is looking at Nigeria with optimism. According to him, many foreign investors already operating in the country are satisfied with their investments and continue to generate profits.

The envoy said the EU, through its Global Gateway Strategy, is working to mobilise private-sector investment and support critical sectors of the Nigerian economy. He identified digital infrastructure, energy, healthcare, agriculture, transportation, and manufacturing as key areas where investment opportunities remain strong.

Mignot, however, acknowledged that challenges still exist. He pointed to issues such as inadequate power supply, skills shortages, connectivity gaps, and bureaucratic hurdles, saying these remain concerns for businesses seeking to expand operations in Nigeria. Despite these obstacles, he expressed confidence in the country’s long-term economic prospects.

His comments come as the administration of Bola Ahmed Tinubu continues to pursue economic reforms aimed at attracting investment, increasing productivity, and driving growth. Mignot said he hopes the upcoming Nigeria–EU Business Forum will deepen partnerships between Nigerian and European businesses, helping unlock new investment opportunities and strengthen economic ties.

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