The European Union (EU) would disburse €150 billion in four years by 2027 to Nigeria and other African countries to enhance infrastructural development.
The funds which will be channeled through its special purpose vehicle –Global Gateway initiative, will enable Nigeria to achieve enhanced infrastructure connectivity, including transport, energy, and digital networks.
The initiative will also support agriculture, economic growth, health and education, as well as promote sustainable development and environmental protection, in addition to fostering cooperation and partnerships with Nigeria and other partner countries.
Head of Cooperation, EU Delegation to Nigeria and ECOWAS, Massimo De Luca, who started this in Lagos during a media briefing, said the initiative is deliberately designed to enhance connectivity, promote sustainable development, and strengthen economic ties between the EU and its partner countries.
In Nigeria, the initiative will support the digital, climate and energy, transport, education and research, as well as the health sectors.
He said: “The EU has projects in Nigeria and in the region. During the period of 2021 to 2024, as EU Delegation in Nigeria, we implemented about €700 million in cooperation from the EU in Nigeria alone.”
