EU Grants €288 Million to Boost Nigeria's Healthcare Sector

The European Union (EU) has announced a €288 million grant to support Nigeria's healthcare and agricultural sectors, as part of a broader initiative to enhance economic stability and growth. The announcement was made during a conference in Abuja, where EU representatives, including Stefano Signor, Director of International Partnerships at the European Commission, emphasized the importance of this funding in accelerating investment and improving local infrastructure.

Nigerian Minister of Budget and Economic Planning, Abubakar Bagudu, highlighted the significance of this partnership, which aims to deepen mutual engagement and foster a modern partnership anchored in respect and shared prosperity. The funding includes €23 million in grants, €108 million in recent signatures, and €86 million in loans to the Nigerian government, with an additional €50 million loan to the Bank of Industry to boost healthcare manufacturing projects.

This initiative is part of President Bola Tinubu's agenda to implement macroeconomic reforms and create an enabling environment for private sector-led growth.