EU Unveils €290m Nigeria Investment To Boost Health, Digital, Agriculture Sectors
EU Unveils €290m Investment Package for Nigeria’s Health, Agriculture, and Digital Sectors
The European Union has announced a €290 million investment package for Nigeria under its Global Gateway Strategy, aimed at strengthening key sectors including healthcare manufacturing, agriculture, digital infrastructure, and migration management.
The announcement was made during the Eighth Nigeria–EU Ministerial Dialogue in Abuja, co-chaired by Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, and the EU High Representative, Kaja Kallas.
Key Agreements
A major highlight of the package is the signing of €135 million in financing agreements between European Investment Bank (EIB Global) and the Bank of Industry (BoI):
- €50 million to boost Nigeria’s healthcare manufacturing sector
- €85 million to support agricultural value chains, particularly cocoa and dairy
The healthcare funding will provide credit support to local manufacturers of pharmaceuticals, vaccines, diagnostics, and medical devices, helping Nigeria reduce reliance on imports and improve health security.
Digital Connectivity Expansion
The largest share of the package—€131 million—is earmarked for digital development. The initiative will support the rollout of about 90,000 kilometres of fibre-optic cables nationwide, improving internet access for an estimated 33 million Nigerians currently without reliable connectivity.
The project will also strengthen digital public infrastructure and support skills development, aligning with Nigeria’s ambition to build a strong tech workforce.
Agriculture and Rural Development
The €85 million agriculture facility will enhance productivity, value addition, and access to finance for agribusinesses, cooperatives, and small-scale farmers. At least 70% of the funding will focus on cocoa and dairy production.
The initiative is also expected to promote climate-smart agriculture, biodiversity conservation, and compliance with international environmental standards, while boosting rural incomes.
Migration and Social Support
An additional €16 million has been allocated to migration-related programmes. This includes support for reintegration of returning migrants and efforts to combat human trafficking, alongside social and economic assistance for affected individuals.
Strengthening Bilateral Ties
EU officials described the investment as part of a broader effort to deepen economic cooperation with Nigeria.
According to EU Commissioner for International Partnerships, Jozef Síkela, the package is designed to drive long-term growth, create jobs, and strengthen critical sectors.
Similarly, EIB Vice President Ambroise Fayolle said the investments would enhance access to essential services while improving supply chain resilience.
With this latest commitment, total “Team Europe” investments in Nigeria since 2025 have reached €962.5 million, underscoring the EU’s growing role in supporting Nigeria’s development priorities and economic transformation.