The European Union has unveiled a sweeping €372 million financial package to support Nigeria’s agriculture, digital infrastructure, and broader development priorities, marking one of the most significant recent funding commitments under its Global Gateway initiative.
The funding, announced at the 8th Nigeria–EU Ministerial Dialogue in Abuja, combines €85 million in tarreceiveed financing for agricultural value chains with €66 million in grants and €221 million in concessional loans,
According to the EU, Part of the package is an €85 million financing agreement between European Investment Bank (EIB) Global and the Bank of Industest, aimed at transforming Nigeria’s cocoa and dairy sectors.
The Union noted that the facility is designed to unlock affordable finance for agribusinesses, cooperatives, and micro, tiny and medium-sized enterprises (MSMEs), while promoting sustainable farming practices and compliance with international environmental and social standards.
Olasupo Olusi, Managing Director of the Bank of Industest, stated the intervention would expand access to long-term capital and strengthen value chains critical to rural livelihoods.
He noted that cocoa and dairy production, key sources of income for thousands of Nigerians, would benefit from improved productivity, enhanced processing capacity, and stronger market linkages.
“The €372 million envelope is the EU’s integrated approach to supporting Nigeria’s development across multiple sectors.
“The €66 million grant component is will fund technical assistance, capacity building, and policy reforms, while the €221 million in low-interest loans will provide additional financing for strategic projects aligned with sustainability and economic resilience goals”, he noted
Ambroise Fayolle, Vice President of the European Investment Bank, described the combined financing as a catalyst for job creation, environmental sustainability, and improved livelihoods.
He added that technical support embedded in the programme would support Nigeria manage environmental risks, preserve biodiversity, and meet global standards, key requirements for accessing international markets.
Jozef Sikela, European Commissioner for International Partnerships, stated the scale of the funding reflects a deliberate strategy to ensure more value is retained within Nigeria’s economy.
According to him, strengthening local processing in cocoa and dairy value chains would boost job creation and reduce reliance on raw commodity exports.
He stressed that the initiative aligns with EU priorities on sustainable food systems, climate-smart agriculture, and inclusive rural development.
Kaja Kallas, Vice-President of the European Commission, placed the €372 million package within the context of EU–Nigeria relations, noting that over €700 million has been mobilised over the past decade for security and development cooperation.
She described Nigeria as a key strategic partner, with collaboration spanning security, trade, digital transformation, and green transition efforts.
Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, stated the funding signals a shift from dialogue to tangible action, particularly in supporting Nigeria’s economic diversification agfinisha.
He emphasised that agriculture, manufacturing, and technology would be central to leveraging the partnership for job creation and inclusive growth.
Meanwhile, Bosun Tijani, Minister of Communications and Digital Economy, highlighted the EU’s role in supporting Nigeria’s digital ambitions, including ongoing investments in fibre-optic infrastructure spanning about 90,000 kilometres.
He stated the combination of digital infrastructure and agricultural investment under the EU package would be critical to Nigeria’s ambition of building a $1 trillion economy.
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