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Nigeria, EU Seal €900m Agreements for Developmental Projects

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The Federal Government of Nigeria and the European Union, on Thursday, signed finance agreements worth over €900m for development projects.

The agreements, signed at the EU-Nigeria Strategic Dialogue in Abuja, were for advancement of  Nigeria’s green, resilient digital inclusive transition.

The deals formed a central part of the EU-Nigeria cooperation to advance the country’s green, resilient, digitally inclusive transition under Government Priorities and Global Gateway.

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.

In addition, the second signed €46m agreement will also contribute to building access in Nigerian social protection safety; support to border management and reintegration of returnees, €28.4m; support to the disarmament, demobilisation and reintegration of Boko Haram combatants in the North-East region, €20m and, support to improving the criminal justice system, access to justice and the fight against corruption, €30m.
The third signed finance agreement was a loan 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” €50m credit facility to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities. The second €14m loan was for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malarial drugs.
The European Commissioner for International Partnerships, Jutta Urpilainen, said the EU would continue to invest in priorities of security, democracy and prosperity for all.
She 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 that I am signing and launching here today that will benefit the Nigerian businesses, farmers, youth and the society as a whole.”

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.

President Tinubu, while playing host to a delegation of the EU, led by Ms. Jutta Urpilainen, EU Commissioner in charge of International Partnerships, welcomed the signing of the eight financing agreements between Nigeria and the EU.
“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.

The EU Commissioner in charge of International Partnerships, in her remarks, 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.

 

 

 

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