The federal government and the European Union (EU) yesterday signed a €900 million (about N728 billion) financial package to advance Nigeria’s green, resilient digital inclusive transition.
This was just as President Bola Tinubu yesterday, canvassed for the strengthening of cross-sectoral partnership between Nigeria and the EU based on the principles of democracy, rule of law and freedom.
The signing of the deal between the federal government and the EU aligns with the government’s priorities and the Global Gateway, the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
Developed jointly between Nigeria and the EU, the package would drive new programmes through the latter’s Global Gateway initiative.
Under the financing agreement, the sum of €29 million was earmarked for climate-smart agriculture, while sustainable energy would gulp €37 million.
Also, access to health services was allocated € 45 million, while €5.4 million was provided for the support of youth and education development in the North West.
This was expected to contribute to policy improvement of the teaching profession and build the capacity of teachers in the region.
Speaking at the EU-Nigeria Strategic Dialogue which culminated in the signing of the agreements in Abuja, thbMinister of Budget and Economic Planning, Senator Abubakar Bagudu, said the ceremony marked yet another milestone in the annals of the EU-Nigeria development cooperation.
In a joint statement, he said, “The EU -Nigeria relations is one of the most vibrant development partnerships in terms of volume, thematic interventions, modalities and geographical spread in the 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.”
In addition, the sum of €46 million was committed to building access to the Nigerian social protection safety net while €28.4 million will support border management and reintegration of returnees.
The agreement further provided €20 million support to the disarmament, demobilisation and reintegration of Boko Haram combatants in the North-east region as well as €30 million support to improving the criminal justice system, access to justice, and the fight against corruption.
The ceremony also witnessed the signature of loans issued to two Nigerian private companies and banks by the European Investment Bank, as part of the Global Gateway strategy.
This included a “2X Challenge” €50 million credit facility with Access Bank for loans to female entrepreneurs and managers in Nigeria, which was expected to create jobs and growth in line with the green economy priorities.
Also, a €14 million loan for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malaria drugs in the country.
Earlier, Bagudu, said the meeting demonstrated the parties’ shared commitments for achievement of the mutual objectives of partnership and multilateralism in these challenging times.
The minister noted that the EU – Nigeria Development Cooperation remained one of the most vibrant development partnerships in terms of the volume, thematic interventions, modalities, and geographical spread in the deployment of cooperation resources.
He said, “Indeed, a recent survey shows that over 5,200 communities benefited from various water, sanitation, energy, education, health, and other micro project interventions over the course of the Cotonou Partnership Agreement between the EU and the Africa, Caribbean and Pacific (ACP States from the year 2000 – 2020.
“Our partnership has come a long way on many fronts, namely collaboration on energy security, regional peace and security, migration management, trade and regional integration, environmental stability and climate change, humanitarian emergencies, and crisis management to mention a few.
“I am enthused that this Dialogue is happening at the take-off of the current Administration in Nigeria, for proper articulation and consolidation of priorities in our partnership.”
Bagudu said, “The current challenges in our sub-regions and the world at large are at the same time fraught with opportunities to make a difference in humanity if we all come to dialogue with honesty of purpose.
“Now, more than ever, a more coordinated response is necessary to assist us in adapting to proven systems for sustainable development and effective integration of our economy into the global system.”
Meanwhile, Tinubu has canvassed for the strengthening of cross-sectoral partnership between Nigeria and the EU based on the principles of democracy, rule of law, and freedom.
Speaking yesterday, at the State House, Abuja, while playing host to a delegation of the EU, led by Ms. Jutta Urpilainen, EU Commissioner in charge of International Partnerships, the President welcomed the signing of the eight financing agreements between Nigeria and the EU.
According to him: “We need all of our partners’ hands on deck to sail together. We look forward to strengthening our partnerships.
“Democracy is not an easy process, but we must fight for democracy and struggle for it to win at all times,” the President said.
Tinubu, who emphasised the importance of economic cooperation with the EU in the areas of digital education, traditional energy, renewable energy, and broadband access, equally told the delegation that Nigeria’s economy was going through several long-lasting reforms to render it capable of pulling millions of Nigerians out of poverty.
“We have a young and vibrant population, and we are determined to succeed. If we succeed, democracy succeeds. If we succeed, freedom succeeds,” he said.
Earlier in her remarks, the EU Commissioner in charge of International Partnerships commended Nigeria for playing a pivotal role as a key partner of the EU, not only in politics and economics, but also in shaping the social landscape across the African continent.
The EU Commissioner explained that over the past four years, the EU has been working to transform the nature of its relationship with Africa by shifting away from the traditional donor-recipient dynamic.
According to her, the EU seeks to establish an equal and mutually beneficial partnership through the “Global Gateway” investment programme as a flagship example.
She noted that this strategy, agreed at the AU-EU Summit in Brussels last year, sets a goal of €300 billion in investments, with €150 billion allocated to Africa.
Thanking Tinubu for the important role Nigeria played in supplying key energy products during its standoff with Russia in recent times, the EU Commissioner noted that the oil & gas partnership can be expanded while adding that the “Global Gateway” strategy is designed to expedite the green and digital transformations in EU partner countries, with Nigeria standing as one of its most strategic.
“We are investing in critical infrastructure such as energy, transportation, and digital infrastructure, as well as in human capital, education, and research,” she said.
