Amanze Chinonye
The European Union has unveiled a €290 million investment package for Nigeria, including €135 million in signed agreements targeting healthcare manufacturing and agriculture, as both sides move to deepen cooperation in trade, security, and economic development.
The announcement followed high-level talks in Lagos between Kaja Kallas, the High Representative of the European Union for Foreign Affairs and Security Policy, and President Tinubu, signalling renewed momentum in EU–Nigeria relations amid global economic and geopolitical uncertainties.
The meeting, held at the President’s residence, was attended by the National Security Adviser, Nuhu Ribadu, and the Minister of Budget and National Planning, Abubakar Atiku Bagudu.
Join our WhatsApp ChannelAt the core of the package are two major financing agreements worth €135 million, structured through Nigeria’s Bank of Industry in partnership with the European Investment Bank’s global arm.
The deals comprise a €50 million healthcare financing facility aimed at strengthening domestic production of pharmaceuticals, vaccines, diagnostics, and medical equipment, reducing reliance on imports and improving national health security.
An €85 million agriculture programme will support cocoa and dairy value chains, providing financing to farmers, cooperatives, and agribusinesses while enhancing productivity and boosting export potential.
Beyond the signed agreements, the broader package spans multiple sectors, with over €130 million allocated to digital infrastructure. This includes plans to deploy about 90,000 kilometres of fibre-optic cables nationwide, aimed at expanding broadband access and improving connectivity for millions of Nigerians, particularly in underserved areas.
Additional components include support for digital innovation and a €16 million programme focused on migration management, including reintegration for returnees and efforts to combat human trafficking.
Speaking after the meeting, Kallas described Nigeria and the EU as “like-minded partners,” stressing the urgency of closer collaboration in a shifting global geopolitical environment.
“The global security situation is very serious, as the geopolitical picture shows. That’s why those countries that value the international rules-based system must stick together,” she said.
She noted that discussions centred on expanding trade and investment, particularly around critical raw materials, alongside enhanced cooperation in security and cybersecurity.
President Tinubu reaffirmed Nigeria’s commitment to strengthening relations with the EU and expressed appreciation for the bloc’s continued support. The investment forms part of the EU’s broader Global Gateway strategy, with total “Team Europe” commitments to Nigeria approaching €1 billion since 2025.
Analysts say the initiative reflects growing EU interest in Nigeria as a strategic partner in Africa, particularly in areas of industrialisation, digital development, and regional security.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
