- The EU would support Nigeria in achieving enhanced infrastructure connectivity in the transport, energy and six other sectors.
- EU has committed financial resources to support the energy sector, including the setting up mini-grids and small hydropower plants.
The European Union (EU) has said it will disburse 150 billion Euros in four years by 2027 through its Global Gateway Initiative to Nigeria and other African countries to enhance infrastructure in over eight sectors. The European Union Commissioner for International Partnerships, Jutta Urpilainen, said this during the launch of the Global Gateway initiative yesterday in Abuja.
According to Urpilainen, the Global Gateway initiative will enhance connectivity, promote sustainable development, and strengthen economic ties between the EU and its partner countries, including Nigeria. She said that through the initiative, the EU would support Nigeria to achieve enhanced infrastructure connectivity. This includes transport, energy, and digital networks, support agriculture, economic growth, health and education.
“It will also promote sustainable development and environmental protection and foster cooperation and partnerships with Nigeria and other partner countries. Together, we intend to mobilise 300 billion Euros in investments by 2027, and half of them for Africa; it is 150 billion Euros by 2027; Nigeria features prominently in the Global Gateway investment package.”
In addition, the EU commissioner said that the EU would support the 5G rollout in Nigeria as part of its efforts to support the digital economy, and it is working on a potential loan to support Small and Medium Enterprises (SMEs) in the digital and print sectors. She added that the EU has committed financial resources to support the energy sector, including setting up mini-grids and small hydropower plants for productive and public purposes.
The EU is committed to a long-term partnership with Nigeria under the Global Gateway to achieve shared goals and objectives. The EU’s long-term commitment will see investments into the following sectors of the country: 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).