House of Representatives Speaker Abbas Tajudeen says that investments by Europe in Africa is fast dwindling, thereby giving rise to more Asian investors playing key economic roles in the continent.
Abbas stated this when European Union (EU) Ambassador to Nigeria and the Economic Community of West African States (ECOWAS) Gautier Mignot visited him in Abuja yesterday.
He urged the EU to step up its multilateral and bilateral cooperation with African countries by catching in on the withdrawal of aids to many countries by the Donald Trump administration .
His words: ‘I just want to draw our attention to some things that I feel the European Union can do better. You (EU) have tried tremendously in terms of capacity, especially in areas of election monitoring, particularly in Nigeria. But I see a trend that is a bit uncomfortable from your side that the EU needs to address.
‘Asia is fast approaching Africa. You should have dominant investments and stakes in Africa. But what we have today is that the majority of the investments are coming from Asia. Less and fewer investments from the EU are being witnessed in Africa.
‘I believe it is an area that we need to holistically look at and see how we can continue to make EU more relevant to Nigeria and to Africa. There are many areas that we have already advanced in our relationship over the last 50 years.
‘Just last week, we received the Ambassador of China to Nigeria, and the kind of ambitious plans we heard him say about China and Nigeria, as well as Africa, are unprecedented. Some weeks ago, I also had the opportunity to meet with the Indian Ambassador, and I also heard about the kind of ambitious plans they have.
‘We don’t hear much from the EU these days as far as Africa is concerned, perhaps, except in the area of elections and security. But when it comes to real investments, the EU is not actually progressing at the rate it should.
‘We believe if there is any country or union that deserves to really stamp its feet in Africa, it is the EU. So, I want to use this opportunity to urge that more and more collaboration needs to come onboard between Africa and the EU’.
