At the EU-Nigeria Strategic Meeting, European Commissioner for International Partnerships, Jutta Urpilainen announced, together with Minister of Budget and Economic Planning of Nigeria, Abubakar Atiku Bagudu, a financial package for a total of over €900 million (₦728 billion). Together with Team Europe, this major package forms a central part of the EU-Nigeria cooperation to advance the country’s green, resilient, digital inclusive transition under Government priorities and Global Gateway, the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
Commissioner Urpilainen said: “I am delighted to be visiting Nigeria to further strengthen our partnership, and I look forward to launching a package of new actions, as part of the Global Gateway strategy and EU support to Government priorities. Building on our long-standing cooperation, and in the best spirit of shared responsibility, commitment and accountability, the EU will continue to invest in our common future and priorities of security, democracy and prosperity for all - not least through the package of loans and grants I am signing and launching here today that will benefit the Nigerian businesses, farmers, youth and the society a as whole.”
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, said: “Today marks yet another milestone in the annals of the EU-Nigeria development cooperation. The EU -Nigeria relations is one of the most vibrant development partnerships in terms of volume, thematic interventions, modalities and geographical spread in deployment of resources. The EU-Nigeria Strategic Dialogue is happening at the take-off of the current Administration in Nigeria and presents opportunities for proper articulation and consolidation of priorities in our Partnership.”
“I am very happy to announce today two financial agreements in crucial sectors for Nigeria and the region: health and entrepreneurship. The partnership with EMZOR pharmaceutical Industries is a significant step towards accelerating treatments against malaria and healthcare access across the region while reducing the dependence on the importation of essential medicines. We are proud to accompany the development of a pioneer firm committed to strengthening the antimalarial supply chain and production.
“Supporting entrepreneurship is also at the heart of our action in Africa. With a new credit facility with Access Bank, our objective is to improve access to finance for female entrepreneurs and to stimulate job creation while supporting sustainable business practices aligned with green economy priorities. The EIB was the first multilateral development bank to adopt the 2X criteria for gender finance and we congratulate Access Bank’s management for their leadership in this space.” said Ambroise Fayolle, EIB Vice-President.
Developed jointly between the EU and Nigeria, the package will drive new programmes through Global Gateway:
Climate smart agriculture (€29 million)
Sustainable energy (€37 million)
Access to health services (€45 million)
Education: support to youth and education development in the North West region (€5.4 million) which will launch to contribute to policy improvement of the teaching profession and the capacity building of teachers.
In addition to these areas of support, the package will also contribute to building access in the Nigerian social protection safety net (€46 million), support to border management and reintegration of returnees (€28.4 million), support to the Disarmament, Demobilisation and Reintegration of Boko Haram combatants in the North East region (€20 million) and, last but not least, support to improving the criminal justice system, access to justice and the fight against corruption (€30 million).
Commissioner Urpilainen has also participated in the signature of the loans issued to two Nigerian private companies and banks by the European Investment Bank, as part of the Global Gateway strategy. This includes a “2X Challenge” €50 million credit facility with Access Bank for loans to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities. The second €14 million loan is for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malarial drugs.
List of financing agreements to be signed and EU Nigeria cooperation projects to be officially launched at the eight Nigeria-EU strategic dialogue
(Abuja, 19th October 2023)
EU GLOBAL GATEWAY - NIGERIA
This Action intends to contribute to the development of Green and Digital Economy in Nigeria, by in particular: supporting climate-smart, innovative agriculture with an improved agribusiness climate and equitable participation of women and youth.
Ministry of Agriculture and Food Security
Cooperation Programme for Sustainable Energy Sector
The Action intends to contribute to the development of Green and Digital Economy in Nigeria, by in particular: expanding access to clean, efficient and reliable energy while mitigating environmental pollution and greenhouse gasses.
Ministry of Power
Strengthening Access to Reproductive and Adolescent Health.
The Action aims at contributing to sustainable demographic transition and Universal Health Coverage by supporting gender and adolescent-responsive integrated Sexual, Reproductive, Maternal and Child Health in Nigeria
Ministry of Health
Education and Youth Empowerment in North-Western Nigeria.
This action intends to contribute to policy improvement of the teaching profession and the capacity building of teachers
Ministry of Education
European Investment Bank (EIB) Loan Signatures
Emzor Active Pharmaceutical Ingredients (loan signature)
Under the Covid-19 essential manufacturing envelope, this private sector operation is to finance the construction of an API manufacturing plant for the production of anti-malarial drugs.
Access Bank Gender Finance (loan signature)
“2X Challenge” credit facility for loans to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities.
European Investment Bank (EIB) Loans pipeline
Husk Renewable Energy Investment (loan signature)
The operation is to finance construction of about 150 small PV-hybrid mini-grids with a total PV capacity of 15 MWp, benefiting some 54,000 households and 6,000 SMEs. It is one of the GG2023 flagship initiatives.
Husk Power Systems
(subject to loan signature)
Nigeria Access to Agri Markets (RAAMP) (info point)
The operation aims to finance the construction of rural roads and agro logistic hubs in various states in Nigeria.
The operation has already been approved by the EIB and is expected to be signed soon.
Ministry of Finance / Ministry of Agriculture and Rural Development
(subject to loan signature)
DBN Green and Innovative SMEs (info point)
This planned wholesale operation with the Development Bank of Nigeria is to boost lending to innovative and green SMEs in Nigeria.
Ministry of Finance / Development Bank of Nigeria
(subject to approval)
Wide-Lag – Lagos inland waterway green transport (info point)
Led by AFD, EIB and the EU Commission are intending to complete the financing package together with the Lagos State government for this green transport project in Lagos, launching solar-powered ferries on the Lagos inland waterways.
Ministry of Finance/Government of Lagos
(subject to approval)
170+60 EU grant
Grand total Global Gateway
Other EU-Nigeria cooperation programmes (grants) – signature of financing agreements
Supporting Sustainable and Innovative social protection programmes
EU Support to Social Protection and Safety-Nets aims at strengthening the social protection system and implement solutions to alleviate poverty durably in selected states.
Ministry of Humanitarian Affairs/Ministry of Labour
The EU Support for the Disengagement, Review, Reintegration, and Reconciliation of Persons Formerly Associated with Non-State Armed Groups (NSAGs) in North-East Nigeria (SD3R) programme aims to contribute to peacebuilding and stability in the North-East region of Nigeria by providing support to individuals who were previously associated with non-state armed groups in their reintegration and reconciliation process, thereby contributing to long-term peacebuilding in the affected areas.
ONSA / MBEP
The Support to Migration Governance in Nigeria programme seeks to support Nigeria’s efforts in strengthening governance systems to better manage mobility and migration at federal, state and local levels. Building on achievements under previous EU funded initiatives, the Action intends to strengthen the overall migration governance framework in Nigeria, including sustainable reintegration and the response to irregular migration, through the scaling up of interventions aimed at enhancing migration management, assisting returnees to achieve improved economic, social and psychosocial reintegration, as well as countering human trafficking and smuggling of migrants.
NAPTIP/NIS and MBEP
The Rule of Law and Anti-Corruption (ROLAC) phase II programme aims to continue supporting the strengthening of rule of law and the fight against corruption, as well as reducing gender-based violence while promoting respect for human rights, ensuring inclusivity for all Nigerians.
The EIB and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country. The EIB has finalized a US $20-million equity stake in the new financing institution, alongside US $50-million equity participation from the African Development Bank.
The European Investment Bank signed the Nigeria Framework Loan which will provide up to EUR 240m to three Nigerian banks: FirstBank of Nigeria, Guaranty Trust Bank and Stanbic IBTC. The funding will be used to facilitate private and public private partnership infrastructure in the country and ensure continued investment in the sector.
The European Investment Bank (EIB) has agreed to EUR100 million financing with MTN Nigeria Communications Plc (MTN Nigeria) to support the telecommunications company’s network expansion programme. The investment will aid the acceleration of 4G coverage in Nigeria and expand broadband access in line with MTN’s Ambition 2025 strategy.