The European Union has announced a €290 million investment package for Nigeria under its Global Gateway Strategy, aimed at strengthening digital infrastructure, healthcare manufacturing, agricultural value chains, and migration management.
The announcement was made on Monday during the Eighth Nigeria–EU Ministerial Dialogue held in Abuja, co-chaired by Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, and the EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission, Kaja Kallas.
On the sidelines of the dialogue, EIB Global, the development arm of the European Investment Bank (EIB), and the Bank of Industry (BoI) signed a €50 million financing agreement to boost Nigeria’s healthcare sector and address unmet medical needs. A separate €85 million agreement was also concluded to support the development of agricultural value chains, with at least 70 per cent of the funding targeted at cocoa and dairy production.
The healthcare financing will be delivered through a credit facility to support local manufacturers of pharmaceuticals, vaccines, diagnostics, and other medical products, in line with Nigeria’s national health priorities and the EU’s Global Gateway Health Package.
Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, described the partnership as transformative. He said, “This partnership marks a pivotal step in Nigeria’s journey from being a major importer of essential health commodities to becoming a competitive producer within regional and global value chains.
“By 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.”
Olusi added that the initiative would deliver long-term benefits, noting, “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.”
EIB Vice President, Ambroise Fayolle, emphasised the broader impact of the partnership, stating, “I 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.
“We support national health security while improving the resilience of supply chains. This is a concrete example of the added value of the EIB’s action in Africa as a key partner of Global Gateway.”
European Commissioner for International Partnerships, Jozef Síkela, also highlighted the importance of the investment, saying, “This investment strengthens local manufacturing of medical products in Nigeria, giving companies better access to finance and the capacity to scale up production.
“We 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.”
The agricultural financing agreement is expected to enhance productivity, improve value addition, and strengthen linkages across supply chains. It will also support sustainable practices in line with EU environmental standards, including biodiversity conservation and climate action.
Olusi reiterated BoI’s commitment to inclusive growth, stating, “By 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.”
Fayolle added, “I 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.”
The broader €290 million package also includes €131 million for digital development, aimed at expanding connectivity, improving digital services, and enhancing technical skills. The initiative will support the rollout of approximately 90,000 kilometres of fibre-optic cable, targeting improved internet access for about 33 million Nigerians currently underserved.
An additional €16 million has been allocated to migration management programmes, including reintegration support for returnees and efforts to combat human trafficking networks.
Speaking at the summit, Kallas underscored the EU’s commitment to Nigeria, stating, “In the current geopolitical context, the European Union is keen to enhance its partnership with Nigeria. Bringing more EU investment to Nigeria, aligning with the Renewed Hope agenda for the Nigerian Federal Government is a key priority for both sides.”
Síkela added, “Together with Nigeria, we are investing in the modernisation of the digital sector, a stronger health system and in the development of agriculture. These Global Gateway investments create quality infrastructure, sustainable jobs and long-term economic opportunities that benefit the Nigerian people while also creating new opportunities for Europe.”
Officials noted that the latest commitments bring total Team Europe investments in Nigeria since 2025 to €962.5 million, reflecting a growing partnership focused on sustainable development, industrialisation, and private sector growth.
The European Investment Bank has invested more than €2.3 billion in Nigeria since 1978, supporting projects across infrastructure, climate resilience, innovation, agribusiness, and small business financing.
