EU Okays €820m Digital Economy Package For Nigeria

The Executive Vice President of European Union (EU) Commission, Margrethe Vestager, has disclosed that the EU has approved a three-year digital economy package worth €820 million for Nigeria.

This, she said, was part of a Global Gateway Africa-Europe Investment Package worth €150 billion announced recently by President of the EU Commission, Ursula von der Leyen.

Vestager, who spoke while leading a delegation of the EU Commission on a visit to the Vice President, Prof. Yemi Osinbajo, at the State House, announced an EU-Nigeria digital economy package of at least €820 million until 2024.

According to her, the package would help enhance connectivity, digitalise public services, support entrepreneurship and build digital skills, while developing a human-centric, democratic governance framework for technology.

Responding, Osinbajo welcomed the EU digital economy support, which he described as impressive noting that the use of digital technology was crucial in Nigeria’s recently released National Development Plan.

The vice president added that it was a relief that the EU supported the view canvassed by Nigeria that gas be considered a transition fuel as the global community moves towards net-zero emissions targets.

He said: “We are relieved to hear of the EU’s support on gas as a transition fuel. It’s some bit of relief. Nigeria has been in the forefront of the international advocacy on the issue.”

Issues discussed at the meeting included the use of digital technology, trade and investment, the importance of the energy relationship between Nigeria and the EU also featured, while a consideration of all options for increased supply of Liquified Natural Gas (LNG) from Nigeria to the EU was agreed to, following a request from the EU.

The importance of a renewed Nigeria-EU partnership was noted during the meeting, including expectations for a successful EU-AU (European Union – African Union) Summit in Brussels later this week, specifically from the 17th-18th of February.