EU Unlocks N320.5bn Credit to Nigerian Banks for Agriculture Sector Boost

The European Union has unlocked N320.5 billion credit for Nigerian commercial banks to enhance lending in the agriculture sector. The European Investment Bank (EIB) announced the credit line during a meeting with Nigerian officials in Brussels.

The funding aims to support Nigeria's agricultural value chain, particularly in cocoa and dairy, and advance the country's digital transformation efforts. Nigerian delegates discussed ongoing reforms and plans for the nation's development agenda.

The package includes credit lines, technical assistance, and grants to strengthen Nigeria's agricultural subsector and regulatory framework.