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EU To Invest 820m Euros In Nigeria’s Digital Economy

The European Union has announced that it is going to invest about 820 million euros to boost Nigeria’s digital economy in the form of an EU-Nigeria Digital Economy Package that will run until 2024. President of the European Commission Jean-Claude Juncker (R) looks on as Spanish Primer Minister Pedro Sanchez (L) and British Prime Minister […]

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The European Union has announced that it is going to invest about 820 million euros to boost Nigeria’s digital economy in the form of an EU-Nigeria Digital Economy Package that will run until 2024.
President of the European Commission Jean-Claude Juncker (R) looks on as Spanish Primer Minister Pedro Sanchez (L) and British Prime Minister Theresa May (C) talk as they attend the second day of an European Union leaders summit at the European Council in Brussels on October 18, 2018. – European Union leaders meet for a summit focused on migration and internal security, after reviewing the state of the Brexit negotiations with Britain. (Photo by BEN STANSALL / AFP) (Photo credit should read BEN STANSALL/AFP/Getty Images)

The announcement was made by the European Commission Executive Vice-President, Margrethe Vestager on Sunday night during a meeting with the Vice President, Yemi Osinbajo at the Presidential Villa in Abuja.
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During the meeting, Vestager stated that the €820 million was going to be a part of the Global Gateway Africa-Europe Investment Package worth €150 billion earlier announced by the EU Commission’s President, Ursula von der Leyen which is supposed to help enhance secure connectivity, digitalize public services, support entrepreneurship and build digital skills, while developing a human-centric, democratic governance framework for technology.

European UnionThe investment is supposed to help propel the country’s proposed plan towards a digitized economy which was a major part of the discussions at the meeting. Also mentioned was the energy relations between the European Union and Nigeria which should also be improved in the coming years through the option of increasing the supply of Liquefied Natural Gas (LNG) from Nigeria to Europe.
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Nigeria's VP Yemi Osinbajo

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Photo Credit: Getty