The European Union (EU) through its Global Gateway initiative has promised to disburse 150 billion Euros to Nigeria and other African countries to enhance infrastructure in over eight sectors.
The disbursement of the fund which commences from this year to 2027, aims to enhance connectivity, promote sustainable development, and strengthen economic ties between the EU and its partner countries, including Nigeria.
The EU Commissioner for International Partnerships, Jutta Urpilainen, who revealed this at the launch of the Global Gateway initiative in Abuja, added that the bloc would support Nigeria to achieve enhanced infrastructure connectivity, including transport, energy, digital networks; support agriculture, economic growth, health and education.
She said: “It will also promote sustainable development and environmental protection; and foster cooperation and partnerships with Nigeria and other partner countries.
“We are living in an increasingly fragmented world. The war that Russia started against Ukraine last year, the military takeover in Niger in July, and the escalation in Israel-Palestine conflict are just stark reminders of that.
“In such a world, the Global Gateway strategy is our positive offer to build resilient connections in the world through strategic partnerships to jointly address the challenges of our times from fighting climate change to improving health systems.
“Together, we intend to mobilise 300 billion Euros in investments by the year 2027, and half of them for Africa; it is 150 billion Euros by the year 2027; Nigeria features prominently in the Global Gateway investment package”, the commissioner added.
Urpilainen further clarified that the EU would support the 5G rollout in Nigeria, as part of its efforts to support the digital economy as well as also working on a potential loan to support Small and Medium Enterprises (SMEs) in the digital and print sectors.
According to her, the EU had committed financial resources to support the energy sector, including the setting up of mini grids and small hydropower plants for productive and public purposes.
“In 2022, we launched a digital economic package for Nigeria. With EU and European Investment Banks, investments worth 820 million Euros, it is a lot of money,” she added.
The EU commissioner described education as “the most transformative investment anyone could make. So, an empowerment project is being launched in North Western Nigeria in cooperation with government to promote quality basic education in the northern regions.”
Urpilainen assured that the EU’s long-term commitment would support investments in key sectors of the Nigerian economy, namely Agriculture (€42,000,000), Energy (€37,000,000), Health (€45,000,000), Digital (€55,000,000), Education (€45,000,000), and Social Protection (€46,000,000).
In his remarks, Minister of Communication, Innovation and Digital Economy, Dr. Bosun Tijani, said that the Global Gateway initiative was aimed at achieving collective regional and global prosperity was in full alignment with President Bola Ahmed Tinubu’s Renewed Hope agenda.
He explained: “The core of this administration’s agenda is a developed Nigeria that is not only for a few, but for all, providing the Government the opportunity to actualize its plans in sectors that it wants to focus on.
“Africa’s relationship with Europe has deep historical roots, and has been built on years of shared values, collaboration and mutual respect.
“While we enjoy geographical proximity, we also have increasingly intertwined culture, and more importantly, a shared future,” the minister added.
Tijani pointed out that working with the EU gave Nigeria the opportunity to leverage its structure and historical resources for global development, particularly for Africa.
