EU Commits €288m to Healthcare, Agriculture, Digital Growth in Nigeria
The European Union has announced a €288 million support package for Nigeria, targeting healthcare, agriculture, finance, migration, climate, and digital public infrastructure.
The announcement was made at the EU-Nigeria Ministerial news conference in Abuja, underscoring the bloc’s renewed commitment under the EU-Nigeria Partnership.
Speaking at the event, Stefano Signore, Director General for International Partnerships at the European Commission, said the funding reflects the EU’s increased investment in Nigeria’s development.
“Healthcare and agriculture remain priority sectors, particularly in improving infrastructure, local manufacturing, and inclusion,” he noted.
The initiative aligns with the EU’s Global Gateway Strategy, which aims to accelerate investment and strengthen economic cooperation with Nigeria.
Signore added that the EU is also working to enhance cooperation on migration, supporting better opportunities for returnee migrants.
Nigeria’s Minister of Budget and Economic Planning, Abubakar Bagudu, welcomed the development, describing it as a continuation of the 2023 EU-Nigeria Strategic Dialogue.
“Our engagement has continued to evolve toward a more investment-driven, result-oriented and impact-focused framework that reflects both our ambitions and the realities of a rapidly changing global economy,” Bagudu said.
He emphasized that under President Bola Tinubu’s leadership, Nigeria is implementing bold macroeconomic reforms to stabilize the economy and create an enabling environment for private sector-led growth.
Out of the €288 million package, €50 million will support healthcare manufacturing through the Bank of Industry, €85 million will fund agri-business value chains such as dairy and cocoa, and €108 million will be split between grants and loans to the Nigerian government.
Other allocations include €23 million for digital public infrastructure, €5 million for training in health and nutrition, €16 million for migration governance, and €1 million for climate-agriculture collaboration.
Managing Director of the Bank of Industry, Olasupo Olusi, said the partnership would channel long-term financing into critical sectors.
“Collaboration with the European Investment Bank is expected to boost local production and support national resilience,” Olusi explained.
Finland’s Under Secretary of State for Foreign Trade, Jarno Syrjaia, also announced that Finland will lead efforts to strengthen Nigeria’s digital public services under the Team Europe Initiative, including support for the government’s Three Million Technical Talents (3MTT) programme.
The EU has continued to scale up investments in Nigeria as part of a broader €150 billion investment plan for Africa under the Global Gateway Initiative, with Nigeria identified as a key beneficiary. Last year, the EU committed €300 million to projects in Nigeria’s North-West and North-East regions, targeting communities affected by insecurity and underdevelopment.