The European Union on Tuesday announced a major expansion of its strategic partnership with Nigeria, unveiling a €290 million investment package under its Global Gateway Strategy.
The announcement was made during the Eighth Nigeria–EU Ministerial Dialogue held in Abuja. The meeting was co-chaired by Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, and the EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission, Kaja Kallas.
The investment package is designed to support key sectors including digital infrastructure, healthcare manufacturing, agricultural value chains, and migration management, reflecting a deepening of economic and development cooperation between both parties.
On the sidelines of the summit, European Investment Bank, through its development arm EIB Global, and the Bank of Industry signed a €50 million financial agreement aimed at boosting Nigeria’s local healthcare sector.
The initiative is expected to address unmet medical needs by supporting local manufacturers of pharmaceuticals, vaccines, and diagnostic equipment through a dedicated credit facility.
In addition, both parties signed an €85 million agreement to strengthen Nigeria’s agricultural value chains. At least 70 per cent of the funding will be directed toward cocoa and dairy production, sectors seen as critical to enhancing food security and export potential.
The new agreements underscore a growing commitment by the EU to support sustainable development and economic diversification in Nigeria, particularly through investments that drive local production and reduce dependency on imports.
