{"id":903254,"date":"2026-05-03T06:17:53","date_gmt":"2026-05-03T11:17:53","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/05\/03\/eu-announces-e290m-global-gateway-expansion-package-for-nigeria\/"},"modified":"2026-05-03T06:17:53","modified_gmt":"2026-05-03T11:17:53","slug":"eu-announces-e290m-global-gateway-expansion-package-for-nigeria","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/05\/03\/eu-announces-e290m-global-gateway-expansion-package-for-nigeria\/","title":{"rendered":"EU Announces \u20ac290m Global Gateway Expansion Package For Nigeria"},"content":{"rendered":"

Bitcoins <\/p>\n

\n

The\u00a0European Union Monday announced expansion of its strategic partnership with Nigeria, unveiling a \u20ac290 million investment package.<\/strong><\/p>\n

The announcement was made during the Eighth Nigeria\u2013EU Ministerial Dialogue held in Abuja and co-chaired by Nigeria\u2019s Minister of Foreign Affairs, Yusuf Tuggar, and EU High Representative for Foreign Affairs and Security Policy and Vice President of European Commission, Kaja Kallas.<\/p>\n

According to a statement by the Ministry, the investments, under its Global Gateway Strategy, will support digital infrastructure, healthcare manufacturing, agricultural value chains, and migration management.<\/p>\n

The EIB Global, the development arm of European Investment Bank (EIB), and Bank of Industry (BoI) also announced the signing of a \u20ac50 million financial agreement to boost the local healthcare sector in Nigeria to address unmet medical needs.<\/p>\n

In addition, the parties signed an \u20ac85 million agreement to boost the development of Nigeria\u2019s agricultural value chains.<\/p>\n

At least 70 per cent of the loans will target cocoa and dairy value chains.<\/p>\n

The health financing intervention will be delivered through a credit line to support local manufacturers of medicinal products and devices, such as pharmaceuticals, vaccines, and diagnostics.<\/p>\n

The project is part of the Global Gateway strategy and responds to Nigeria\u2019s national priorities in health and development sectors.<\/p>\n

The healthcare deal was witnessed by Minister of Budget and Economic Planning, Senator Abubakar Bagudu; Ambassador of European Union in Nigeria and ECOWAS, Mr. Gautier Mignot; Managing Director\/Chief Executive, BoI, Dr. Olasupo Olusi; and EIB Head of Unit, Svetla Stoeva.<\/p>\n

Olusi said, \u201cThis partnership marks a pivotal step in Nigeria\u2019s journey from being a major importer of essential health commodities to becoming a competitive producer within regional and global value chains.<\/p>\n

\u201cBy mobilising long-term, patient capital into local pharmaceutical, vaccine and diagnostics manufacturing, we are not only strengthening health security but also catalysing industrial growth, skills development and high-quality job creation.<\/p>\n

\u201cAt the Bank of Industry, we view healthcare manufacturing as both a public health imperative and a strategic economic opportunity. Through this collaboration with EIB Global under the Human Development Accelerator, we are building a sustainable financing architecture that empowers Nigerian enterprises to scale, innovate, and meet international quality standards.\u201d<\/p>\n

He added, \u201c This initiative demonstrates how development finance, when aligned with national priorities and strong international partnerships, can unlock transformative impact-improving lives today while laying the foundation for a more resilient and self-reliant healthcare system for future generations.\u201d<\/p>\n

<\/p>\n

EIB Vice President, Ambroise Fayolle, said, \u201cI am very pleased to announce this partnership with the Bank of Industry to improve public health and daily lives in Nigeria. By financing the development and local manufacture of essential medicinal and nutritional products, we enhance access to affordable, safe, and high-quality treatments for diseases.<\/p>\n

\u201cWe support national health security while improving the resilience of supply chains. This is a concrete example of the added value of the EIB\u2019s action in Africa as a key partner of Global Gateway.\u201d<\/p>\n

European Commission\u2019s Commissioner for International Partnership, Jozef Sikela, said, \u201cThis investment strengthens local manufacturing of medical products in Nigeria, giving companies better access to finance and the capacity to scale up production.<\/p>\n

\u201cWe are investing so that Nigeria can produce more of what it needs at home and build stronger healthcare systems and regional value chains instead of relying on imports.\u201d<\/p>\n

The operation is part of the Global Gateway Health Package and aligns with the Team Europe Initiative for Manufacturing and Access to Vaccines (TEI MAV+).<\/p>\n

It also aligns with national and continental priorities, including Nigeria\u2019s goal to improve self-sufficiency in healthcare and the African Union\u2019s target of producing 60 per cent of vaccines and essential medicines locally by 2040, as well as supports regional industrialisation under African Continental Free Trade Area (AfCFTA), with potential export opportunities in ECOWAS market.<\/p>\n

In addition, EIB Global stated that it had invested \u20ac2.3 billion since the start of its activities in Nigeria in 1978, supporting impactful and transformative investments in crucial areas for the country, such as sustainable urban transport, climate adaptation, innovation and digitalisation, agribusiness logistics and small and medium enterprises (SMEs), and Midcaps financing.<\/p>\n

<\/p>\n

READ ALSO: Ford To Recall Over 254,000 SUVs Due To Software Issues<\/a><\/p>\n

Separately, EIB Global and BoI also signed an \u20ac85 million agreement to boost the development of Nigeria\u2019s agricultural value chains and support private sector companies across the agricultural value chains, including cooperatives and MSMEs. It said at least 70 per cent of the loans will target cocoa and dairy value chains.<\/p>\n

The operation will focus on the agriculture sector in compliance with Environmental and Social Standards (ESS).<\/p>\n

The project, supported by the EU Global Gateway initiative, is aligned with Nigeria\u2019s development objectives in sustainable agriculture and financial inclusion.<\/p>\n

In a joint statement, EIB and BoI explained that the financing was fully dedicated to strengthening agricultural value chains with a focus on sustainable cocoa production and dairy supply management.<\/p>\n

Through its partnership with BoI, EIB Global will support increased value addition, improved productivity, and stronger linkages across value chains, while enhancing incomes and livelihoods for processors and agribusinesses.<\/p>\n

Furthermore, the project will support the sustainable transformation of Nigeria\u2019s targeted value chains and ensure compliance with the EIB\u2019s Public environmental and social standards, EU Regulation on Deforestation (EUDR), and EU standards.<\/p>\n

It will also foster biodiversity conservation and reduce environmental externalities, while supporting inclusive rural development in line with the EIB Climate Roadmap and the EU Green Deal.<\/p>\n

Olusi said, \u201cThis agreement reinforces the Bank of Industry\u2019s commitment to unlocking long-term, affordable finance for priority sectors that drive inclusive growth.<\/p>\n

\u201cBy partnering with EIB Global, BoI is scaling support for sustainable agriculture, strengthening critical value chains and enabling Nigerian agribusinesses to grow competitively while meeting international environmental and social standards.\u201d<\/p>\n

Fayolle said, \u201cI am delighted that EIB is financing this project with the Bank of Industry (BoI) for the development of agricultural value chains in Nigeria, including sustainable cocoa. Such investment is important for the country in terms of employment, health, and economy, with real impact on local population. Our ambition is to support and accompany the sustainable transformation of Nigeria\u2019s targeted value chains, in line with EU Global Gateway Initiative of which EIB, as the EU bank, is a key actor and partner in Africa.\u201d<\/p>\n

Alongside the credit line, EIB is providing technical assistance to support BoI\u2019s climate action strategy and to support capacity building of the agriculture sector in managing environmental and social risks.<\/p>\n

<\/p>\n

Alongside the broader investment package, the development arm of European Investment Bank, EIB Global, signed a \u20ac50 million financing agreement with BoI to boost healthcare manufacturing in Nigeria.<\/p>\n

The facility will support local companies producing pharmaceuticals, vaccines, diagnostic products, and other medical devices through a dedicated credit line aimed at addressing financing gaps in the sector.<\/p>\n

The initiative is financed under the Human Development Accelerator programme backed by the European Commission and implemented by the European Investment Bank in partnership with the Bill & Melinda Gates Foundation.<\/p>\n

Vice President of the European Investment Bank, Ambroise Fayolle, said the partnership demonstrated the EU\u2019s commitment to strengthening health systems across Africa.<\/p>\n

\u201cBy financing the development and local manufacture of essential medicinal and nutritional products, we enhance access to affordable, safe and high-quality treatments for diseases while improving the resilience of supply chains,\u201d Fayolle said.<\/p>\n

The EU investment package also includes \u20ac86 million to support agricultural development, particularly in Nigeria\u2019s cocoa and dairy value chains.<\/p>\n

The financing will provide easier access to credit for smallholder farmers and agribusiness companies through the Bank of Industry while supporting climate-smart agriculture policies and sustainable production.<\/p>\n

Another \u20ac16 million will support migration management programmes, including reintegration support for returning migrants and efforts to combat human trafficking networks.<\/p>\n

The funding will provide social, economic, and psychological assistance for voluntary returnees while strengthening Nigeria\u2019s capacity to tackle smuggling and trafficking networks.<\/p>\n

With the new package, total Team Europe commitments to Nigeria since 2025 reached \u20ac962.5 million.<\/p>\n

European Investment Bank alone had invested more than \u20ac2.3 billion in Nigeria since beginning operations in the country in 1978, supporting projects in infrastructure, climate resilience, innovation, agribusiness, and small business financing.<\/p>\n<\/p><\/div>\n

Elida Roberie Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00a0European Union Monday announced expansion of its strategic partnership with Nigeria, unveiling a \u20ac290 million investment package. The announcement was made during the Eighth Nigeria\u2013EU Ministerial Dialogue held in Abuja and co-chaired by Nigeria\u2019s Minister of Foreign Affairs, Yusuf Tuggar, and EU High Representative for Foreign Affairs and Security Policy and Vice President of European<\/p>\n","protected":false},"author":1,"featured_media":903255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[551,1424],"tags":[11476],"class_list":{"0":"post-903254","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-announces","8":"category-global","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/903254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=903254"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/903254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/903255"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=903254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=903254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=903254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}