By Nworisa Michael
The European Union has announced a €288 million support package for Nigeria, targeting key sectors such as healthcare, agriculture, finance, migration, climate, and digital public infrastructure.
The funding was unveiled by the EU delegation to Nigeria and Economic Community of West African States during an EU–Nigeria ministerial press conference in Abuja, signalling a new phase under the EU–Nigeria Partnership framework.
Speaking at the event, Stefano Signore, Director-General for International Partnerships at the European Commission, said the package reflects an expansion of EU investments in Nigeria under its Global Gateway strategy.
He noted that while progress has been recorded, further efforts will be made, particularly in the health and agriculture sectors, which are being prioritised to improve infrastructure, standards, local manufacturing, and inclusiveness.
Signore also disclosed that the EU would strengthen cooperation on sustainable migration by promoting economic opportunities for returnee migrants.
Nigeria’s Minister of Budget and Economic Planning, Abubakar Bagudu, said the engagement builds on the gains of the 2023 EU–Nigeria Strategic Dialogue, which marked a significant step in bilateral relations.
According to him, the dialogue elevated cooperation between both parties and formally launched the EU’s Global Gateway Strategy in Nigeria.
“This moment signals a deepening of ties and a shared commitment to a modern partnership anchored on mutual respect, shared prosperity, and sustainable investment,” he said.
Bagudu, who was represented by Dr. Doris Anite-Uzoka, added that Nigeria remains committed to strengthening ties with the EU, noting that under President Bola Tinubu, the government is implementing broad macroeconomic reforms aimed at stabilising the economy, improving fiscal sustainability, and creating an enabling environment for private sector-led growth.
He listed key reforms to include improved revenue mobilisation, enhanced transparency in public financial management, rationalised expenditure, and greater efficiency in the foreign exchange market.
Also speaking, Olasupo Olusi, Managing Director of the Bank of Industry, said the partnership demonstrates how strategic collaboration can channel long-term investments into critical sectors.
He explained that in collaboration with the European Investment Bank, financing is being directed toward healthcare and agriculture, both of which are central to Nigeria’s resilience and inclusive growth agenda.
Finland’s Under-Secretary of State for Foreign Trade, Jarno Syrjäiä, revealed that his country is leading a new Team Europe Initiative aimed at strengthening Nigeria’s digital public services and supporting the Three Million Technical Talents (3MTT) programme.
He added that Finland’s development company, HAUS, will implement the initiative in partnership with Estonia’s development agency, ESTDEV, leveraging European expertise in digital governance and public sector innovation.
Meanwhile, Uche Amaonwu, Country Director of the Gates Foundation, emphasised the importance of supporting local healthcare manufacturing, noting that the collaboration is already yielding concrete investments in Nigeria through the Bank of Industry.
Breakdown of the €288 Million Package
The EU provided details of how the €288 million will be allocated:
- €23 million in grant support for Nigeria’s digital public infrastructure
- €108 million (€22 million grant and €86 million loan) to the Nigerian government
- €50 million lending facility to the Bank of Industry for healthcare manufacturing projects
- €5 million grant for training in health, pharmaceutical, and nutrition sectors
- €85 million lending facility to support agribusinesses, particularly in dairy and cocoa value chains
- €1 million for a twinning project with Nigeria’s Ministry of Agriculture, involving experts from Austria, the Czech Republic, and Latvia
- €16 million to strengthen migration governance, including reintegration of returnees and efforts to combat human trafficking and migrant smuggling
The EU said the package underscores its commitment to supporting Nigeria’s economic transformation through sustainable and inclusive investments.
