Abuja: The European Union (EU) delegation to Nigeria and ECOWAS has announced the roll-out of support amounting to pound 288 million to aid Nigeria’s healthcare, agriculture, finance, migration, climate, and digital public infrastructure sectors. This significant financial commitment was revealed during the EU-Nigeria Ministerial news conference held in Abuja, aimed at bolstering the Nigerian economic landscape.
According to News Agency of Nigeria, the announcement was made under the new EU-Nigeria Partnership commitment. Mr. Stefano Signore, the Director-General of International Partnerships at the European Commission, emphasized that this project is part of the EU’s Global Gateway Strategies, showcasing an acceleration in investment to support these critical sectors. Signore highlighted that while progress has been made, the EU anticipates delivering even more through the global gateway strategies, particularly focusing on health and agriculture to enhance standards, infrastructure, and local manufacturing.
Mr. Abubakar Bagudu, Nigeria’s Minister of Budget and Economic Planning, noted that the event builds on the momentum from the 2023 EU-Nigeria Strategic Dialogue, marking a pivotal milestone. He stated that this engagement has fostered a modern partnership rooted in mutual respect, shared prosperity, and sustainable investment. Bagudu, represented by Dr. Doris Anite-Uzoka, emphasized Nigeria’s commitment to advancing this strategic relationship under President Bola Tinubu’s leadership, which includes implementing macroeconomic reforms aimed at economic stabilization and fostering private sector growth.
Dr. Olasupo Olusi, Managing Director/CEO of the Bank of Industry (BoI), remarked on the strategic partnership’s role in channeling long-term investment into Nigeria’s critical sectors like healthcare and agriculture, aligning with Tinubu’s agenda for national resilience and inclusive growth. Mr. Jarno Syrjaia, Under Secretary of State for Foreign Trade, Finland, announced Finland’s leadership role in the new Team Europe Initiative aimed at enhancing Nigeria’s Digital Public Services and supporting the development of technical talents.
Mr. Uche Amaonwu, Country Director of the Gates Foundation, commended the initiative, emphasizing the importance of supporting health manufacturing to achieve strategic goals. He applauded the BoI and PVAC for mobilizing an innovative facility catering to Nigerian health manufacturers’ financing needs.
The financial breakdown of the pound 288 million support includes pound 23 million for grant support for the Nigerian Digital Public Infrastructure (DPI), pound 108 million for the recent signatures of grants and loans, pound 50 million for a lending facility to the BoI for healthcare manufacturing development, pound 5 million for training in health and nutrition sectors, pound 85 million for agri-business lending support, pound 1 million for a Twinning project, and pound 16 million to enhance Nigeria’s migration governance framework.