The European Union (EU) delegation to Nigeria and ECOWAS has announced the roll-out support of 288 million euros to Nigeria’s healthcare, agriculture, finance, migration, climate and digital public infrastructure sectors.
The delegation made the announcement at the EU-Nigeria Ministerial news conference in Abuja on Monday. The roll-out funds is mainly grant and support for the Nigerian economic sector.
The announcement was done under the new commitment of the EU-Nigeria Partnership.
Mr Stefano Signore, Director General, International Partnerships, European Commission, said that the project represented the acceleration in investment that EU was supporting as part of its Global Gateway Strategies.
Signore said that though much had been done, more was expected to be delivered through the global gate-way strategies.
He said that health and agriculture stood out in this respect as they join forces to improve standards, infrastructure and local manufacturing and inclusion.
He said that the bloc was committing to stronger cooperation on sustainable migration by providing better life options to returnee migrants.
Earlier, Mr Abubakar Bagudu, Minister of Budget and Economic Planning, said that the event was built on the strong momentum generated at the 2023 EU-Nigeria Strategic Dialogue , which represented a significant milestone.
Bagudu said that it had elevated the mutual engagement and formally launched the EU’S Global Gateway Strategy in Nigeria.
He said that the moment signalled a deepening of ties and a shared commitment to a modern partnership anchored on mutual respect, shared prosperity, and sustainable investment.
“Our engagement has continued to evolve toward a more investment-drive, result-oriented and impact-focused framework that reflects both our ambitions and the realities of a rapidly changing global economy.
“Nigeria remains firmly committed to deepening this strategic relationship. Under President Bola Tinubu’s leadership, we are implementing bold and far-reaching macroeconomic reforms.
“These reforms aim at stabilising the economy, strengthening fiscal sustainability, and creating an enabling environment for private sector-led growth.
“They include efforts to improve revenue mobilisation, enhance transparency in public financial management, rationalise expenditures, and strengthen the efficiency of our foreign exchange market,’’ he said.
Bagudu, represented by Dr Doris Anite-Uzoka, Minister of State, Budget and Economic Planning, said that collectively, they were laying the ground work for a more competitive, resilient, and inclusive economy.
Dr Olasupo Olusi, the Managing Director/CEO Bank of Industry (BoI), said that the synergy demonstrated how strategic partnership could channel long-term investment into Nigeria’s most critical sector.
According to him, through the partnership with the European investment Bank, targeted, long-term financing are being into two priority sectors, healthcare and agriculture.
He said that the sectors were central to Tinubu’s agenda for national resilience and inclusive growth.
Mr Jarno Syrjaia, the Under Secretary of State for Foreign Trade, Finland, said that Finland assumed the lead role in the new Team Europe Initiative.
Syrjaia said that it was to Strengthen Nigeria’s Digital Public Services and support the three million Technical Talents (3MTT).
He said that his government was proud to announce its responsibility to enhance Nigeria’s digital public services and advance inclusive digital skills.
He said that Finland’s development and training company, HAUS, would lead the implementation in partnership with Estonia’s development agency, ESTDEV, to bring together European expertise in digital government and public-sector innovation.
Mr Uche Amaonwu, Country Director, Gates Foundation, said that supporting health manufacturing was critical to shared strategic goals.
Amaonwu said that the foundation was glad to work together with its partners who lead the way in mobilising financing for African healthcare players.
He said that it was encouraging to see that the work was translating into concrete investment in Nigeria through the BoI facility.
“We congratulate the BoI and PVAC for mobilising this innovative facility that will serve the real financing needs of Nigerian health manufacturers,’’ he said.
NAN reports tht out of the 288 million euros, 23 million euros is for grant support for the Nigerian DPI.
“108 million euros is for the recent signatures of 22 million euros grant and 86 million euros loan to the Nigerian Government.
Furthermore, 50 million euros is for the recent signature of a lending Facility to the Bank of Industry to boost the development of healthcare manufacturing project in Nigeria.