Nigeria is expected to be a significant beneficiary of the commitment to support infrastructure development through the Global Gateway programme, which plans to invest $150 billion across Africa by 2027.
Massimo De Luca, Head of the EU Delegation to Nigeria and ECOWAS Cooperation, told a press conference in Lagos that the initiative focuses on digital transformation, climate and energy, transport, education, research and health.
“The EU has projects in Nigeria and the region between 2021 and 2024, we have committed about €700 million in cooperation in Nigeria alone,” De Luca said.
Noting that Nigeria’s largest trading partner continues to be the European Union and its member states, the President said, “The Global Gateway is a major project with a financing of $300 billion, covering primarily Africa, Latin America and Asia.”
- Advertisement -
De Luca said that the Global Gateway offers an investment-focused service, unlike traditional services, adding, “We do not just provide services, we also focus on investment.” These investments can come from private or public sources, as long as they are sustainable in the long term.
He added that financing is also an important part of the Global Gateway project. “We don’t just provide grants or commitments for the project to be viable; we also need a loan or capital to get someone to commit to financing,” he explained.
De Luca added that the European Chamber of Commerce in Nigeria (EuroCham) is responsible for attracting investors. “EuroCham brings together European investors who are already in Nigeria and helps identify potential projects.” “It’s amazing.”
The EU also announced its support for Nigeria’s digital transformation, which was developed in collaboration with Bosun Tijani, Nigeria’s Minister of Communications and Digital Economy.
“We are working closely with Minister Tijani on three priorities: laying 90,000 kilometres of fibre optic cable, establishing e-government systems and developing digital skills,” De Luca said.
