By Ayomide Otitoju
The European Union has expanded its strategic partnership with Nigeria, unveiling a €290 million investment package aimed at boosting healthcare, agriculture, digital infrastructure, and migration management. The announcement was made on Monday during the Eighth Nigeria–EU Ministerial Dialogue in Abuja, co-chaired by Nigeria’s Yusuf Tuggar and Kaja Kallas.
Under the EU’s Global Gateway Strategy, the package includes a €50 million credit facility through EIB Global and Bank of Industry to strengthen local healthcare manufacturing. The funding will support pharmaceutical, vaccine, diagnostic, and medical device production, helping Nigeria reduce reliance on imports while building regional and global competitiveness.
Another €85 million agreement targets the development of agricultural value chains, with a focus on cocoa and dairy, aiming to improve productivity, value addition, and incomes for smallholder farmers and agribusinesses. The project also promotes environmental and social standards, biodiversity conservation, and climate-smart agriculture.
Dr. Olasupo Olusi described the partnerships as transformative for Nigeria, noting they would strengthen health security, industrial growth, and high-quality job creation. “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,” he said.
Ambroise Fayolle highlighted the EU’s commitment to public health and supply chain resilience. “By financing local manufacture of essential medicinal and nutritional products, we enhance access to affordable, safe, and high-quality treatments while improving supply chain resilience,” Fayolle said.
European Commission Commissioner for International Partnerships Jozef Sikela added that the investment would enable Nigeria to build stronger healthcare systems and regional value chains, reducing dependency on imports.
The EU investment package also includes €16 million to support migration management, including reintegration programs for returnees and initiatives to combat human trafficking.
Since 1978, EIB Global has invested over €2.3 billion in Nigeria, supporting infrastructure, innovation, climate adaptation, agribusiness, and small and medium enterprise financing. With the new package, total Team Europe commitments to Nigeria since 2025 now total €962.5 million.
The investments align with Nigeria’s national priorities, the African Union’s goal of producing 60% of vaccines locally by 2040, and the African Continental Free Trade Area (AfCFTA) framework, offering potential regional export opportunities.
