Nigeria has reaffirmed its commitment to strengthening economic relations with Spain, positioning itself as a strategic platform for Europe–Africa growth and calling for increased Spanish private sector investment.
The call was made during a high-level engagement with the leadership of the Spanish Confederation of Business Organisations (CEOE), Spain’s foremost business association, led by Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar (OON).
Addressing Spanish business leaders, Nigeria described Spain as a key economic partner and a natural bridge between Europe and Africa, while commending CEOE’s role as the institutional backbone of Spain’s productive economy.
The statement was issued by the Senior Special Assistant on Media to the Minister of Foreign Affairs, Alkasim Abdulkadir
According to Ambassador Tuggar, Nigeria’s reform-driven economic agenda aligns strongly with Spain’s outward-looking private sector.
“Nigeria is steadily stabilising and repositioning its economy through structural reforms, diversification, and stronger macroeconomic coordination,” the minister said.
He noted that growth is increasingly driven by non-oil sectors such as agriculture, manufacturing, services, technology, and global services, supported by Nigeria’s population of over 200 million people, more than 70 per cent of whom are under the age of 35.
Nigeria highlighted its strategic relevance to Spanish investors as Africa’s largest market and a gateway to West and Central Africa. Through the African Continental Free Trade Area (AfCFTA), investments in Nigeria can access a market of over 1.3 billion people across the continent.
“Nigeria is seeking productive, long-term capital, technology transfer, and partnerships that deepen value chains, rather than short-term or speculative engagement,” Tuggar stated.
Several priority sectors for Spanish investment were outlined. In the energy and gas sector, Nigeria pointed to opportunities across liquefied natural gas, power generation, petrochemicals, fertilisers, and the energy transition, including major cross-border projects such as the African Atlantic Gas Pipeline and the Trans-Saharan Gas Pipeline.
Agriculture and agro-processing were also identified as key growth areas, with opportunities in mechanisation, food processing, cold-chain logistics, and export-oriented agribusiness.
Infrastructure development and industrialisation featured prominently, particularly through public–private partnerships in transport, logistics, and special economic zones. Nigeria also presented itself as an emerging hub for Business Process Outsourcing (BPO), citing its young, English-speaking, digitally skilled workforce.
“Nigeria’s talent base offers strong potential for customer services, shared services, and IT outsourcing for European markets,” officials noted.
Technology, fintech, digital infrastructure, creative industries, and professional services were also highlighted as high-growth sectors.
On migration, Nigeria reiterated that it does not support irregular migration, instead favouring structured and legal labour mobility aligned with labour market needs. Spain’s circular migration framework was commended as consistent with West African labour traditions.
“Properly managed labour mobility can enhance business competitiveness, reduce irregular migration, and strengthen bilateral trust,” the Nigerian delegation said.
Nigeria also assured investors of ongoing reforms aimed at improving the ease of doing business, regulatory transparency, and investor protection, alongside incentives and sector-specific support.
CEOE was invited to encourage Spanish firms to see Nigeria not just as an export destination, but as a production and services base, while promoting joint ventures, SME partnerships, and a more balanced Europe–Africa economic narrative founded on mutual benefit.
Concluding the engagement, Nigeria declared itself open, reform-oriented, and ready for deeper economic partnership.
“Nigeria is not a frontier of risk, but a platform of opportunity,” the delegation stated, calling on Spanish businesses to invest, build, and grow alongside Africa’s largest economy.
Sandra Chukwugekwu
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