EU Launches €290M Investment Package for Nigeria's Health

On October 24, 2023, during the eighth Nigeria-EU ministerial dialogue in Abuja, the European Union unveiled a €290 million investment package under its Global Gateway strategy aimed at supporting Nigeria's healthcare, agriculture, and digital infrastructure. Co-chaired by Nigeria's Minister of Foreign Affairs, Yusuf Tuggar, and EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, the announcement included a €50 million financing agreement with the European Investment Bank (EIB) to boost Nigeria's healthcare sector.

This agreement aims to address unmet medical needs and enhance local manufacturing of essential medicines and medical devices. Additionally, an €85 million agreement was signed to develop Nigeria's agricultural value chain, targeting cocoa and dairy sectors.

The investment aligns with Nigeria's national priorities and the African Union's goal of producing 60% of essential medicines locally by 2040. The EIB emphasized the importance of strengthening local manufacturing capabilities to improve healthcare security and create high-quality jobs.