The European Union on Monday unveiled a €290 million investment package to strengthen Nigeria’s digital infrastructure, healthcare manufacturing, agricultural value chains, and migration management under its Global Gateway Strategy.
The announcement was made at the Eighth Nigeria–EU Ministerial Dialogue in Abuja, co-chaired by Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, and EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission, Kaja Kallas.
On the sidelines of the summit, EIB Global, the development arm of the European Investment Bank (EIB), and the Bank of Industry (BoI) signed a €50 million financing agreement to boost Nigeria’s healthcare sector, addressing gaps in the production of pharmaceuticals, vaccines, diagnostics, and other medical devices.
An additional €85 million agreement was signed to support the development of Nigeria’s agricultural value chains, with at least 70 per cent of funds earmarked for cocoa and dairy sectors.
The health financing intervention, delivered through a dedicated credit line, aims to strengthen local manufacturers and reduce Nigeria’s dependence on imports.
The project aligned with national priorities in health and industrial development.
BoI Managing Director Dr. Olasupo Olusi said the initiative marked a pivotal step for Nigeria’s transition from a major importer of essential health commodities to a competitive regional producer.
“By mobilising long-term capital into local pharmaceutical and diagnostics manufacturing, we are enhancing health security, industrial growth, skills development, and high-quality job creation,” Olusi said.
EIB Vice President Ambroise Fayolle noted that the partnership would improve access to affordable, high-quality treatments and strengthen supply chain resilience.
European Commission Commissioner for International Partnerships Jozef Síkela added that the investment would empower Nigerian companies to scale up production while building stronger healthcare systems.
The agricultural initiative under the Global Gateway programme would support smallholder farmers, cooperatives, and agribusinesses, focusing on sustainable cocoa production, dairy value chains, and environmentally compliant farming practices.
Technical assistance from EIB Global will help BoI implement climate-smart agriculture and social and environmental risk management.
“The partnership reinforces BoI’s commitment to long-term financing for priority sectors that drive inclusive growth,” Olusi said, highlighting the project’s alignment with international environmental and social standards.
Fayolle added that investments in agriculture would enhance employment, income, and local development.
The investment package also included €131 million for Nigeria’s digital sector to improve connectivity, expand digital services, and develop technical skills.
About 90,000 kilometres of fibre-optic cable will be rolled out, providing affordable internet to an estimated 33 million Nigerians.
The programme also supports interoperable digital public infrastructure and a national digital talent development initiative.
Other components of the package include €16 million to support migration management programmes, reintegration of returning migrants, and efforts to combat human trafficking, providing social, economic, and psychological support while strengthening Nigeria’s capacity to tackle smuggling networks.
Since 1978, EIB Global has invested over €2.3 billion in Nigeria across sectors including urban transport, climate adaptation, innovation, agribusiness, and SME financing. With the new package, Team Europe’s total commitments to Nigeria since 2025 reach €962.5 million.
Officials said the expanded investments would foster sustainable development, industrialisation, private sector growth, and regional trade integration, while supporting Nigeria’s long-term goal of self-sufficiency in healthcare and strengthening its position under the African Continental Free Trade Area (AfCFTA)
