EU Nigeria €290m investment package launched to boost healthcare, agriculture, digital infrastructure and jobs under Global Gateway strategy

The announcement was made during the Eighth Nigeria–EU Ministerial Dialogue in Abuja, co-chaired by Nigeria’s Minister of Foreign Affairs Yusuf Tuggar and the EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, marking a renewed push to deepen economic and development cooperation between both partners.

Also read: CBN Boosts Gold Reserves to $3.5bn with Locally Refined Bullion

Central to the package is a set of financing agreements involving the European Investment Bank Global and the Bank of Industry, including €50 million for healthcare manufacturing and €85 million for agricultural value chains aimed at strengthening Nigeria’s productive capacity in critical sectors.

The EU Nigeria €290m investment package is part of a broader strategy to reduce Nigeria’s dependence on imports by boosting local production in pharmaceuticals, vaccines, diagnostics and agricultural commodities such as cocoa and dairy.

Dr. Olasupo Olusi, Managing Director of the Bank of Industry, said the initiative represents a structural shift in Nigeria’s economic positioning, moving from import dependence towards competitive local production supported by long-term financing.

He described the partnership as a catalyst for industrial growth, job creation and skills development, noting that healthcare manufacturing is both a public health necessity and a strategic economic opportunity for Nigeria.

European Investment Bank Vice President Ambroise Fayolle said the financing would improve access to affordable medicines and strengthen supply chain resilience, describing the intervention as a concrete demonstration of the EU’s commitment to Africa under the Global Gateway framework.

EU Commissioner for International Partnerships Jozef Síkela added that the investments were designed to strengthen local industries, enhance production capacity and create sustainable economic opportunities while reducing reliance on imports.

Alongside healthcare and agriculture, the package includes a significant €131 million allocation for digital infrastructure, aimed at expanding broadband connectivity, improving digital public services and supporting Nigeria’s growing technology ecosystem.

Officials said the digital component will support the rollout of about 90,000 kilometres of fibre-optic infrastructure, potentially improving internet access for millions of Nigerians currently without reliable connectivity.

Additional funding includes €16 million dedicated to migration management programmes, including reintegration support for returning migrants and efforts to combat trafficking networks.

Collectively, the new commitments bring total “Team Europe” investment in Nigeria to €962.5 million, reflecting what officials described as a growing strategic partnership focused on sustainable development, industrialisation and private sector expansion.

The European Investment Bank European Investment Bank also disclosed that it has invested more than €2.3 billion in Nigeria since 1978, supporting infrastructure, climate resilience, innovation and small business growth.

Also read: Nigerian Army Boosts Mobility with 15 Locally Made APCs

Officials from both sides said the expanded partnership signals stronger economic alignment between Nigeria and Europe, with emphasis on building resilient industries, improving healthcare systems and expanding opportunities for regional trade across West Africa.