The European Union (EU) has introduced the Global Gateway Initiative investment plan, totaling €820 million, set to be disbursed by 2027 to Nigeria aimed at bolstering infrastructure development. In fact, efforts are underway to construct twin railway lines between Katsina and Daura. This is to reinforce Nigeria’s connection with Benin in the context of the West African power pole.
The initiative, announced by the EU Commissioner for International Partnerships, Jutta Urpilainen in Abuja, seeks to foster enhanced connectivity. Moreover, it seeks to improve sustainable development, and the economic ties between the EU and its partner nations.
EU’s Long-Term Investment Commitment In Nigeria.
The EU’s long-term commitment to Nigeria, under the Global Gateway initiative, encompasses investments in various sectors. They include Agriculture (€42 million), Energy (€37 million), Health (€45 million) and Digital (€55 million). Furthermore, Education (€45 million), and Social Protection (€46 million), reflect a comprehensive approach to advancing shared goals and objectives.
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The EU has already launched a digital economic package with support from the European Investment Banks. The package encompasses various projects, including nationwide digital ID rollout and the expansion of mobile networks in collaboration with MTN in Lagos and other regions.
Nigeria will play a pivotal role in the Global Gateway initiative, which aims to enhance infrastructure connectivity, support agriculture, and stimulate economic growth. The initiative will also improve health and education, promote sustainability, and foster partnerships between the EU and its partner nations.
This EU investment plan for infrastructure development in Nigeria is a comprehensive initiative. Its aim is to address global challenges, from climate change to healthcare improvements. Furthermore, it is part of the EU’s strategy to build resilient connections worldwide through strategic partnerships. The EU intends to mobilize €300 billion in investments by 2027, with half of these funds earmarked for Africa, specifically €150 billion by 2027. EU’s investment in infrastructure development plan is set to prominently feature Nigeria.
Bosun Tijani, Minister of Communication, Innovation, and Digital Economy, emphasized that the initiative aligns with President Bola Tinubu’s Renewed Hope agenda. He stressed the importance of leveraging the historical ties and cultural connections between Africa and Europe to build a more resilient world, emphasizing the role of Nigeria, blessed with abundant resources and a youthful, digitally-native population.
