EU to Disburse €150bn to Nigeria, Africa Under Global Gateway Initiative
The European Union (EU), through its Global Gateway initiative, has committed €150 billion to be disbursed by 2027 to Nigeria and other African nations. This investment aims to enhance infrastructure, economic growth, and sustainable development across the region, with Nigeria expected to play a significant role in the initiative.
The initiative will support digital infrastructure, climate and energy, transport, education, research, and healthcare in Nigeria. By improving connectivity in transport, energy, and digital networks, the EU seeks to boost economic growth, sustainability, and bilateral cooperation with Nigeria and other African nations.
According to Massimo De Luca, Head of Cooperation at the EU Delegation to Nigeria and ECOWAS, the EU has already invested €700 million in Nigeria between 2021 and 2024. The Global Gateway initiative marks a shift towards investment-driven partnerships, focusing on long-term sustainable financing rather than just grants and technical assistance.
A significant focus of the initiative is Nigeria’s digital transformation, which includes deploying 90,000 km of fibre optic cables and advancing e-governance systems. The EU is working closely with Nigeria’s Ministry of Communications and Digital Economy, encouraging private sector participation to finance these projects through loans, equity, and public-private partnerships.
The EU remains Nigeria’s largest donor partner, with a focus on attracting European investors through platforms like EuroCham. By integrating investment-based funding into its development strategy, the EU aims to create self-sustaining economic growth, fostering deeper Nigeria-EU trade and investment relations.
Source: Leadership