EU Announces €288 Million Aid Package for Nigeria

The European Union (EU) has rolled out a €288 million aid package aimed at boosting key sectors in Nigeria, including healthcare, agriculture, and public infrastructure. The announcement was made during a conference in Abuja by the EU delegation and Nigeria's Minister of Budget and Economic Planning, Abubakar Bagudu.

This funding is part of the EU's commitment to strengthen its partnership with Nigeria, as highlighted by Stefano Signor, the Director for International Partnerships at the European Commission. The aid includes €23 million in grants and €108 million in recent signatures, alongside a €50 million loan to the Bank of Industry to develop healthcare manufacturing projects.

Additionally, €16 million will support Nigeria's efforts to improve migration management. The initiative aligns with President Bola Tinubu's agenda for economic reform and aims to create a conducive environment for private sector-led growth while enhancing fiscal sustainability and transparency in public finance management.