FG Clears $850m Debt To EU Airlines

The Federal Government has cleared the backlog of debts to European airlines to the tune of $850m.

The European Union Ambassador to Nigeria and the ECOWAS, Samuela Isopi, disclosed this at the 9th edition of the Nigeria – EU Business Forum in Abuja on Tuesday.

She hailed the government for its intervention in clearing the backlog as well as the removal of foreign exchange restrictions on the import of forty-three items.

Isopi stated that Nigeria remains the EU’s largest trading partner with about 35 billion Euros in trade relations in the last year.

She added that Nigeria is the E.U’s biggest foreign investor with a stock estimated at 26 billion Euros, representing one-third of Nigeria’s foreign direct investment.

Isopi further said that over 230 EU companies operate in Nigeria, providing jobs for youths and women.