- Under the financing agreement, the EU earmarked €29 million and €37 million for climate-smart agriculture and sustainable (green) energy, respectively.
- The deal is part of the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
The federal government and the European Union (EU) signed a €900 million (about N728 billion) financial package to advance Nigeria’s green, resilient, digitally inclusive transition. This was just as President Bola Tinubu canvassed for strengthening the cross-sectoral partnership between Nigeria and the EU based on the principles of democracy, the rule of law and freedom. The signing of the deal between the federal government and the EU aligns with the government’s priorities and the Global Gateway, the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
Developed jointly between Nigeria and the EU, the package would drive new programmes through the EU’s Global Gateway initiative. Under the financing agreement, €29 million was earmarked for climate-smart agriculture, while sustainable energy would gulp €37 million. Also, access to health services was allocated €45 million, while €5.4 million will support youth and education development in the North West. This will contribute to policy improvement of the teaching profession and build the capacity of teachers in the region.
In addition, €46 million was committed to building access to the Nigerian social protection safety net, while €28.4 million will support border management and reintegration of returnees. The agreement further provided €20 million support to the disarmament, demobilisation and reintegration of Boko Haram combatants in the North-east region and €30 million support to improving the criminal justice system, access to justice, and the fight against corruption. The ceremony also witnessed the signature of loans issued to two Nigerian private companies and banks by the European Investment Bank as part of the Global Gateway strategy.