The European Union has announced a €288 million funding package for Nigeria, targeting key sectors including healthcare, agriculture, finance, migration, climate, and digital infrastructure.
The development was disclosed by the EU Delegation to Nigeria and ECOWAS during the EU-Nigeria Ministerial news conference in Abuja. The funding forms part of renewed commitments under the EU-Nigeria Partnership and aligns with the bloc’s Global Gateway Strategy aimed at boosting investment and economic cooperation.
Stefano Signore, Director-General for International Partnerships at the European Commission, said the package reflects increased EU investment in Nigeria’s development, with a strong focus on healthcare and agriculture. He added that the initiative will also support migration management by creating better opportunities for returnees.
Abubakar Bagudu, Nigeria’s Minister of Budget and Economic Planning, described the funding as a continuation of the 2023 EU-Nigeria Strategic Dialogue, noting that it signals a shift toward a more investment-driven and impact-focused partnership.
He said the Tinubu administration is implementing macroeconomic reforms aimed at stabilising the economy, improving fiscal sustainability, and creating an enabling environment for private sector-led growth.
A breakdown of the package shows that €50 million will support healthcare manufacturing through the Bank of Industry, while €85 million will be invested in agri-business value chains, particularly dairy and cocoa production.
An additional €108 million, comprising €22 million in grants and €86 million in loans, will go 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 and agriculture collaboration projects.
Olasupo Olusi, Managing Director of the Bank of Industry, said the partnership would unlock long-term financing for critical sectors, while collaboration with the European Investment Bank is expected to boost local production.
Jarno Syrjaia, Finland’s Under Secretary of State for Foreign Trade,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 3MTT programme.
The funding is part of the EU’s broader €150 billion Global Gateway investment plan for Africa by 2027, with Nigeria identified as a key beneficiary.
Analysts say the latest package reinforces the EU’s long-standing economic partnership with Nigeria and is expected to support job creation, strengthen local industries, and improve access to essential services, particularly in healthcare and agriculture.
