According to a report by Channels Television, the Nigerian government has paid off a backlog of $850 million in debts owed to European airlines, according to the European Union Ambassador to Nigeria and ECOWAS, Samuela Isopi.
Isopi disclosed this information at the 9th Nigeria-EU Business Forum held in Abuja on Tuesday.
She commended the government's intervention in clearing the longstanding debt as well as its recent removal of foreign exchange restrictions on the import of 43 items.
The EU ambassador noted that Nigeria remains the EU's largest trading partner, with about 35 billion euros in trade relations over the past year.
She also stated that Nigeria is the EU's biggest foreign investor, with a stock estimated at 26 billion euros, representing one-third of Nigeria's total foreign direct investment.
Isopi added that over 230 EU companies currently operate in Nigeria, providing jobs for the country's youth and women.
The Nigeria-EU Business Forum, which had the theme "Investing in Jobs and Sustainable Future," was attended by several high-profile officials, including the Director General at the EU, Myriam Ferran; the Minister of Budget and National Planning, Atiku Bagudu; and the Permanent Secretary at the Ministry of Industry, Trade and Investment, Nura Rimi.