The European Union (EU) is to disburse 150 billion Euros in four years by 2027 through its Global Gateway Initiative to Nigeria and other African countries to enhance infrastructure in over eight sectors.
The EU Commissioner for International Partnerships, Jutta Urpilainen, made this known during the launch of the Global Gateway initiative on Thursday in Abuja.
According to Urpilainen, the Global Gateway initiative is crafted to enhance connectivity, promote sustainable development, and strengthen economic ties between the EU and its partner countries, including Nigeria.
She said that through the initiative, the EU would support Nigeria to achieve enhanced infrastructure connectivity, including transport, energy, digital networks; support agriculture, economic growth, health and education.
“It will also promote sustainable development and environmental protection; and foster cooperation and partnerships with Nigeria and other partner countries.
“We are living in an increasingly fragmented world. The war that Russia started against Ukraine last year, the military takeover in Niger in July, and the escalation in Israel-Palestine conflict, are just stark reminders of that.
“In such a world, the Global Gateway strategy is our positive offer to build resilient connections in the world through strategic partnerships to jointly address the challenges of our times from fighting climate change to improving health systems,” she said
“Together, we intend to mobilise 300 billion Euros in investments by the year 2027, and half of them for Africa; it is 150 billion Euros by the year 2027; Nigeria features prominently in the Global Gateway investment package.”
Urpilainen said that the EU would support the 5G rollout in Nigeria, as part of its efforts to support the digital economy and it is working on a potential loan to support Small and Medium Enterprises (SMEs) in the digital and print sectors.
“In 2022, we launched a digital economic package for Nigeria. With EU and European Investment Banks, investments worth 820 million Euros, it is a lot of money.
“We are already supporting the roll out of digital IDs nationwide, mobile network expansion with MTN in Lagos and other states.
“We are also about to launch the construction of a line between Katsina and Daura twin lines, and we are proposing to reinforce the Nigeria-Benin interconnection of the framework of the West African power pole.” she said
Urpilainen said that education is the most transformative investment anyone could make so an empowerment project is being launched in North Western Nigeria in cooperation with government to promote quality basic education in the northern regions.