EU allocates €283.73m for development projects in North

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The European Union (EU) said it had allocated €283.73 million for development projects in northern Nigeria, reinforcing its commitment to economic growth, education, security and humanitarian efforts in the region.

This announcement was made by the newly appointed EU Ambassador to Nigeria, Gautier Mignot during a press conference in Kano. The envoy also flagged off the Study in Europe fair, underscoring the EU’s continued partnership with Nigeria.

“The EU is Nigeria’s largest trading partner, accounting for 28 per cent of the country’s total trade, with bilateral trade reaching €35 billion in 2023. The EU also remains Nigeria’s biggest investor, holding one-third of its foreign direct investment (FDI) valued at €26.4 billion,” Mignot stated.

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He emphasised EU’s commitment to deepening economic cooperation, addressing trade barriers and creating employment opportunities, particularly for the Nigerian youth. The envoy said the Global Gateway Initiative remained a key component of this partnership with priority areas, including renewable energy, digital transformation, agri-food systems and health care.