Nigeria's rapidly developing economy is now Africa's second biggest. Nigeria is a major EU trade partner, with a particular focus on oil and gas.
The basis for political, trade and development cooperation relations between the EU and Nigeria is the 2000 Cotonou Agreement (also known as the ACP-EU Partnership Agreement) with 79 developing countries in Africa, the Caribbean and the Pacific. It was last revised in 2010.
In 2009, the 2 parties signed the Nigeria-EU Joint Way Forward, which sets out detailed plans for intensified dialogue and cooperation.
This has led to regular political dialogues spanning a broad range of issues such as human rights, security and migration. The most recent ministerial meeting was held in May 2013.
The Country Strategy for 2014-2020 is currently at the draft stage.
Between 2009 and 2013, EU aid to Nigeria – most of it from the 10th European Development Fund - totalled about €700 million. The 11th European Development Fund allocation for Nigeria for 2014-2020 will be around €500 million.
Nigeria faces major security problems. €200 million have been earmarked for helping people in the Niger Delta in the south of the country. Recently several development programmes have diverted funding to tackling the increasingly problematic security situation in the north.