By Tony Obiechina, Abuja
The Federal government and the European Union (EU) on Thursday signed a Memorandum of Understandin (MoU) to improve education, energy and Transportation programmes in Nigeria.
The MoU was signed at the EU-Nigeria Strategic Meeting held at the banquet hall of the Presidential Villa, which also involved the granting of loans to two Nigerian private companies and banks by the European Investment Bank, as part of the Global Gateway strategy.
This includes a “2X Challenge” €50 million credit facility with Access Bank for loans to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities. The second €14 million loan is for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malarial drugs.
Nigeria’s Minister of Budget and Economic Planning, Senator Atiku Abubakar Bagudu penned the MoU for the country while EU Commissioner for International Partnerships, Jutta Urpilainem, signed for the for the Union.
Chief Executive Officers of the private firms involved signed the the agreement for their respective companies while the EU Commissioner penned for the EU.
This major package forms a central part of the EU-Nigeria cooperation to advance the country’s green, resilient, digital inclusive transition under Government priorities and Global Gateway, the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
Speaking at the event which was witnessed by the Permanent Secretary, Nebolisa Anako, and other high level government officials, the Minister said: “Today marks yet another milestone in the annals of the EU-Nigeria development cooperation. The EU -Nigeria relations is one of the most vibrant development partnerships in terms of volume, thematic interventions, modalities and geographical spread in deployment of resources.
“The EU-Nigeria Strategic Dialogue is happening at the take-off of the current Administration in Nigeria and presents opportunities for proper articulation and consolidation of priorities in our Partnership.
“This meeting is a demonstration of our shared commitments for achievement of the mutual objectives of our partnership and multilateralism in these challenging times.
“Our partnership has come a long way on many fronts, namely: collaboration on energy security, regional peace and security, migration management, trade and regional integration, environmental stability and climate change, humanitarian emergencies and crisis management to mention a few.
“The EU – Nigeria Development Cooperation is one of the most vibrant development partnerships in terms of the volume, thematic interventions, modalities and geographical spread in deployment of cooperation resources.
“Indeed, a recent survey shows that over 5,200 communities benefitted from various water, sanitation, energy, education, health and other micro project interventions over the course of the
Cotonou Partnership Agreement between the EU and the Africa, Caribbean and Pacific (ACP States from the year 2000 – 2020.
“Within the Framework of the Nigerian National Development Plan (NDP) 2021 – 2025 and the Renewed Hope Agenda of President Bola Ahmed Tinubu, the single most important commitment that will propel Nigeria to lasting security, sustainable stability and shared prosperity is focused investments that will harness the potentials of our citizenry for productivity, economic growth and development.
“Being our closest continental neighbor with advanced political systems, economic prosperity and social cohesion, it is in our mutual interest for Europe to support our efforts in harnessing demographic dividends”.
In her opening remarks, Commissioner Urpilainen said: “I am delighted to be visiting Nigeria to further strengthen our partnership, and I look forward to launching a package of new actions, as part of the Global Gateway strategy and EU support to Government priorities.
“Building on our long-standing cooperation, and in the best spirit of shared responsibility, commitment and accountability, the EU will continue to invest in our common future and priorities of security, democracy and prosperity for all – not least through the package of loans and grants I am signing and launching here today that will benefit the Nigerian businesses, farmers, youth and the society a as whole.”
Continuing, she said, “I am very happy to announce today two financial agreements in crucial sectors for Nigeria and the region: health and entrepreneurship. The partnership with EMZOR pharmaceutical Industries is a significant step towards accelerating treatments against malaria and healthcare access across the region while reducing the dependence on the importation of essential medicines.
“We are proud to accompany the development of a pioneer firm committed to strengthening the antimalarial supply chain and production.
“Supporting entrepreneurship is also at the heart of our action in Africa. With a new credit facility with Access Bank, our objective is to improve access to finance for female entrepreneurs and to stimulate job creation while supporting sustainable business practices aligned with green economy priorities”.
In his remarks, Ambroise Fayolle, EIB Vice-President said the package developed jointly between the EU and Nigeria, will drive new programmes through Global Gateway. READ ALSO:
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It includes: climate smart agriculture (€29 million), Sustainable energy (€37 million) Access to health services (€45 million); Education: support to youth and education development in the North West region (€5.4 million) which will launch to contribute to policy improvement of the teaching profession and the capacity building of teachers.
In addition to these areas of support, the package will also contribute to building access in the Nigerian social protection safety net (€46 million), support to border management and reintegration of returnees (€28.4 million), support to the Disarmament, Demobilisation and Reintegration of Boko Haram combatants in the North East region (€20 million) and, last but not least, support to improving the criminal justice system, access to justice and the fight against corruption (€30 million).
