The European Union (EU) has reinforced its development cooperation with Nigeria through a ₦320.5 billion (€190 million) credit line aimed at expanding agricultural financing and supporting climate-smart food production across the country.

The facility, provided by the European Investment Bank (EIB), was announced during a meeting between senior EIB executives and a delegation from Nigeria’s Federal Ministry of Budget and Economic Planning, held on the sidelines of the Global Gateway Forum in Brussels, Belgium.

According to Ms. Thourayya Tricki, the EIB’s Director of International Partnerships, the credit facility underscores the EU’s commitment to Nigeria’s agricultural transformation, particularly in the cocoa and dairy value chains.

She noted that the initiative forms part of broader efforts to drive sustainable, climate-resilient agricultural production and enhance the competitiveness of Nigerian agri-food products.

Tricki, who was joined by Mr. Diedrick Zambon, the EIB’s Head of Sub-Saharan Africa Relations, revealed that the investment package includes both credit lines and technical assistance to Nigerian Development Finance Institutions (DFIs) and commercial banks.

These measures are expected to broaden access to finance for farmers, agribusinesses, and other players in the value chain.

In addition to the new agricultural facility, Nigeria is already benefitting from an €18 million Technical Assistance grant to strengthen regulatory capacity for vaccine manufacturing, as well as a €50 million credit line to expand local pharmaceutical production.

The Nigerian delegation, comprising Mr. Bolaji Onalaja, Special Assistant to the Minister, and Mr. Benjamin Galadima, Focal Officer for the EU Unit, highlighted ongoing reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

They also discussed the forthcoming National Development Plan (2026–2030) and the Ward-Based Development Programme as vehicles for driving sustainable growth and community-level development.

Representing the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, the delegation expressed Nigeria’s appreciation to the Head of the EU Delegation to Nigeria and ECOWAS, Ambassador Gauthier Mignot, for facilitating the country’s participation at the 2025 Global Gateway Forum.

The Global Gateway Forum serves as the EU’s primary platform for translating its Global Gateway Investment Package into tangible partnerships and projects.

It brings together governments, development finance institutions, and private sector stakeholders to advance investments in connectivity, green transition, digital transformation, and human capital development.

In her keynote address, the President of the European Commission, Ursula von der Leyen, reaffirmed the EU’s commitment to building sustainable and mutually beneficial partnerships under the Global Gateway Strategy.

She announced an expansion of the Global Gateway Investment Package to €400 billion, alongside the creation of an Investment Hub designed to accelerate project delivery and improve access to finance, particularly across Africa.

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