Nigeria and the European Union recently inked finance agreements worth over €900 million. These agreements were signed during the EU-Nigeria Strategic Dialogue held in Abuja and mark a pivotal step in advancing Nigeria’s green, resilient, and digitally inclusive transition in alignment with Government Priorities and Global Gateway initiatives.
A Strategic Partnership:
The agreements, jointly developed by the European Union and Nigeria, encompass a range of key sectors aimed at bolstering the nation’s development. They are as follows:
1. **Climate-Smart Agriculture (€29 million):** This program focuses on sustainable and environmentally responsible agriculture practices.
2. **Sustainable Energy (€37 million):** An investment in sustainable energy sources to support Nigeria’s power needs.
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3. **Access to Health Services (€45 million):** This agreement seeks to improve healthcare accessibility and quality in the country.
4. **Education Support in the North-West Region (€5.4 million):** Education development projects aimed at empowering the youth in the North-Western part of Nigeria.
In addition to these, another agreement worth €46 million is designated for multiple purposes:
1. **Social Protection Safety and Border Management (€28.4 million):** Support for enhancing social protection and effective border management.
2. **Disarmament, Demobilization, and Reintegration (DDR) in the North-East (€20 million):** Focused on assisting former Boko Haram combatants in their transition to civilian life.
3. **Improving the Criminal Justice System and Combating Corruption (€30 million):** These funds aim to strengthen the country’s justice system and combat corruption.
Support for Nigerian Businesses and Women Entrepreneurs:
As part of the Global Gateway strategy, the European Investment Bank issued a loan to two Nigerian private companies and banks. This includes a €50 million credit facility for female entrepreneurs and managers in Nigeria, with the aim of creating jobs and fostering growth in alignment with green economy priorities. Another €14 million loan was allocated to Emzor Active Pharmaceutical Ingredients to fund the construction of a manufacturing plant for anti-malarial drugs.
Jutta Urpilainen, the European Commissioner for International Partnerships, emphasized the EU’s commitment to invest in security, democracy, and prosperity. She underlined the importance of strengthening partnerships and launching new initiatives under the Global Gateway strategy to benefit various sectors of Nigerian society.
Abubakar Bagudu, the Minister of Budget and Economic Planning, highlighted the robust nature of EU-Nigeria relations, both in terms of the volume of resources and the diversity of thematic interventions. He noted that the EU-Nigeria Strategic Dialogue offers opportunities to align and consolidate priorities for this fruitful partnership.
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