Nigeria and the European Union, on Thursday, signed finance agreements worth over €900m for development projects.
The agreements were signed at the EU-Nigeria Strategic Dialogue in Abuja.
It formed a central part of the EU-Nigeria cooperation to advance the country’s green, resilient, digitally inclusive transition under Government Priorities and Global Gateway.
Developed jointly between the EU and Nigeria, the first signed agreement would drive new programmes through Global Gateway as follows: climate-smart agriculture, €29m); sustainable energy, €37m; access to health services, €45m; and education support to youth and education development in the North-West region, €5.4m.
In addition, the second signed €46m agreement will also contribute to building access in Nigerian social protection safety; support to border management and reintegration of returnees, €28.4m; support to the disarmament, demobilisation and reintegration of Boko Haram combatants in the North-East region, €20m and, support to improving the criminal justice system, access to justice and the fight against corruption, €30m.
The third signed finance agreement was a loan issued to two Nigerian private companies and banks by the European Investment Bank, as part of the Global Gateway strategy.
This includes a “2X challenge” €50m credit facility to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities. The second €14m loan was for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malarial drugs.
