The European Union (EU) has announced a €290 million investment package for Nigeria to support digital infrastructure, healthcare manufacturing, agriculture, and migration management.
The funding was unveiled on Monday during the eighth Nigeria–EU ministerial dialogue held in Abuja.
The meeting was co-chaired by Yusuf Tuggar, minister of foreign affairs, and Kaja Kallas, EU high representative for foreign affairs and security policy.
European officials said the investment, part of the bloc’s Global Gateway strategy, is aimed at strengthening key sectors of Nigeria’s economy while deepening bilateral ties.
The digital sector received the largest share of the package, with €131 million earmarked to expand connectivity, improve digital services, and develop skills.
Under the programme, about 90,000 kilometres of fibre-optic cable will be rolled out to provide internet access to an estimated 33 million Nigerians currently without reliable connectivity.
The initiative will also support the development of digital public infrastructure and Nigeria’s talent pipeline in the tech sector.
On the sidelines of the dialogue, European Investment Bank (EIB), through its development arm, and the Bank of Industry (BoI) signed a €50 million financing agreement to boost healthcare manufacturing.
The facility will support local production of pharmaceuticals, vaccines, diagnostics, and other medical devices through a dedicated credit line.
Speaking on the agreement, Olasupo Olusi, managing director of BoI, said the partnership would help reposition Nigeria from a major importer of medical products to a competitive producer.
“This partnership marks a pivotal step in Nigeria’s journey from being a major importer of essential health commodities to becoming a competitive producer within regional and global value chains,” he said.
Olusi added that the initiative would strengthen health security while driving industrial growth, skills development, and job creation.
Ambroise Fayolle, vice-president of the European Investment Bank (EIB), said the partnership would improve access to affordable and high-quality treatments while strengthening supply chains.
“We support national health security while improving the resilience of supply chains,” Fayolle said.
Similarly, Jozef Síkela, EU commissioner for international partnerships, said the investment would help Nigeria scale local production capacity and reduce reliance on imports.
In addition to healthcare, EIB and BoI signed an €85 million agreement to support agricultural value chains, with at least 70 percent of the loans targeting cocoa and dairy production.
The financing is expected to improve productivity, strengthen value chains, and support smallholder farmers, cooperatives, and agribusinesses.
The EU officials said the project aligns with Nigeria’s development priorities and broader continental goals, including the African Union (AU) target of producing 60 percent of vaccines locally by 2040 and the African Continental Free Trade Area (AfCFTA) framework for regional trade.
The package also includes €16 million for migration management, focusing on reintegration support for returnees and efforts to combat human trafficking.
European officials also said the new investments reflect a renewed commitment to strengthening relations with Nigeria amid evolving global dynamics.
“In the current geopolitical context, the European Union is keen to enhance its partnership with Nigeria,” Kallas said
The EIB said it has invested more than €2.3 billion in Nigeria since 1978, supporting projects in infrastructure, climate resilience, innovation, agribusiness, and small business financing.
