The European Union has announced a fresh €287 million ($310 million) financing package for Nigeria, combining grants and low-interest loans aimed at boosting key sectors including health, agriculture and digital infrastructure.
The funding—comprising €66 million in grants and €221 million in concessional loans—was unveiled during the 8th Nigeria-EU Ministerial Dialogue in Abuja, co-chaired by EU foreign policy chief Kaja Kallas and Nigeria’s Foreign Affairs Minister Yusuf Tuggar.
The new financing falls under the EU’s Global Gateway programme, its flagship initiative designed to rival China’s Belt and Road by funding infrastructure and development projects globally.
Kallas said the new projects would support Nigeria’s economic development while deepening cooperation in strategic sectors. “Today, we move forward with new projects in digital, agriculture and health worth 66 million euros of grants and 221 million euros in low-interest loans,” she said.
Over 200 European companies in Nigeria
The EU is Nigeria’s largest trading and investment partner, accounting for more than a quarter of the country’s trade. According to the EU, over 200 European companies currently operate in Nigeria, supporting around 130,000 jobs.
Beyond financing, both sides signalled plans to expand cooperation in science, technology and innovation, with discussions underway for Nigeria’s participation in the EU’s Horizon Europe programme.
The funding package comes amid broader efforts by the EU to strengthen ties with Nigeria across security, trade and migration.
On security, the EU said it has mobilised more than €700 million over the past decade to support counterterrorism, stabilisation efforts and the Multinational Joint Task Force combating insurgency in the Lake Chad region.
“Nigeria is a bulwark in the fight against terrorism, and Europe stands shoulder to shoulder with Nigeria,” Kallas said, referencing ongoing threats from extremist groups including Boko Haram.
The two sides also advanced talks on migration, initializing a readmission agreement aimed at facilitating the return of Nigerians without legal residency in the EU, a sensitive issue that has long featured in bilateral negotiations.
The EU said it will host a Nigeria-EU Business Forum in Lagos in June to drive further investment and private sector partnerships.
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