The European Union (EU) on Monday said that it would adopt a seven-year funding scheme for its interventions in Nigeria.
In a statement issued by the EU in Abuja following the conclusion of the consultations held with local authorities and other key stakeholders at the Multiannual Indicative Programme (MIP) for Nigeria 2021-27.
It stated that it focuses on three broad priority areas, namely: Green and Digital Economy, Governance, Peace and Migration and Human Development.
Under the Programme, the EU will provide €508 million to fund projects that reinforce its bilateral cooperation with Nigeria for the period 2021-24. Financial allocation for the period 2025-2027 will be determined after a review in 2024.
The EU Ambassador to Nigeria and ECOWAS, Ms. Samuela Isopi, said that “The European Union has a long standing partnership with Nigeria. Today, we are marking a step in our cooperation, by committing ourselves to long-term support aligned with our shared priorities, values and interests.
“This is in the spirit of the Global Gateway strategy adopted by the EU last December. We are glad to launch this multiannual programme during the visit of the Executive Vice President of the European Commission, Ms Margrethe Vestager, and on the eve the 6th EU-African Union Summit in Brussels.
“This strategic document, the EU commits to provide support for the priorities defined in consultation with the Nigeria authorities and its Member States, other key stakeholders, in particular, the Civil Society Organisations.
“Including women and youth groups, representatives of the private sector, the UN and other partners, were consulted.
“EU will work with its Member States, the European Investment Bank (EIB) and other EU Development Finance Institutions (DFIs) in the implementation of the agreed priorities.
“Under the Team Europe approach, Two Team Europe Initiatives (TEI) have been prepared for Nigeria, one on Green Economy and the other one on Peace and Governance. The agreed priorities are in line with UN’s 2030 Agenda and the Paris Agreement,’’ it stated.
It stated further that the adoption of the MIP is an important step in reinforcing and concretising the EU’s cooperation with Nigeria. It will enable the EU and Nigeria to continue working together on programmes and projects that are built on shared objectives, principles and values.
Already, three new projects have been signed under this new programming: EU Support to Democratic Governance (€39 million) EU Support for Innovation and Jobs for Youth in Nigeria (€55 million) and EU-Nigeria Cooperation Facility (€21.4 million)
Through the defined priorities and related actions, which will further be developed, the EU reaffirms its place as a key partner of Nigeria.