EU pledges €280m investment to create jobs in Nigeria

The European Union (EU) said it is investing over €280 million in investment opportunities to job opportunities and fight poverty in Nigeria.

The intervention came at a critical moment when the new government of the United States of America announced plans to withdraw all grants and cut funding on humanitarian services to Africa.

EU Ambassador to Nigeria and ECOWAS Mr. Gautier Mignot disclosed the intervention on Thursday at the opening of the Study in Europe Fair held in Kano.

He confirmed that EU is paying more attention of its intervention to Northern part of Nigeria due to the level of poverty and insecurity in the region.

Mignot explained the investment is coming under a new initiative project tagged Global Gateway Strategy aimed at attracting European private companies to invest in Nigeria.

He posited that through the Global Gateway Development Agenda, EU is fostering corporation on creating jobs, opportunities for young people, women and explore the country’s great sense of entrepreneurship sectors like green economy, digital, agriculture, food and health.

Although, the EU Ambassador to Nigeria stated that Nigerian government behoves the responsibility of fighting poverty and insecurity, he reminded that team Europe can only contribute towards enhancing good government policies through Global Gateway corporation.

“The partnership with Nigeria is strong especially on trade and investment. About 28 per cent of Nigeria’s trade is with European Union and Nigeria is growing surplus in its trade with the EU and we are historically the main source of foreign direct investment in Nigeria, more or less two third of existing foreign investment in Nigeria are from EU companies,” he said.

“Team Europe are also the first bilateral partner in development corporation in humanitarian assistance, and we are keeping our financial commitment with Nigeria. We are trying to launch a communication company in Nigeria on the global gateway strategy which is our new strategy for the corporation.

“The EU is paying special attention to the North of the country because of the level of poverty and insecurity. And to implement the commitment made during Nigeria’s strategic dialogue with the EU in October 2023, and we have a package of ongoing or new corporations on investment project in the North East, North West and North Central Regions. On going projects.

“We have been supporting the resilience of youth in the North East in particular in the face of insecurity and youth security crisis for 10 years and we are committed to supporting peace and development in North West with security issues.

“New package of starting new projects over €280 million Euros team Europe, covering health, education, agriculture, social protection, energy, security, durable solution for internally displaced persons, resilience and economic recovery, and water management.”