The European Union (EU) has unveiled the Global Gateway Initiative, which plans to disburse £150 billion in four years by 2027 to Nigeria and other African countries to enhance infrastructural development.
The EU Commissioner for International Partnerships, Jutta Urpilainen, made this known during the Global Gateway initiative launch on Thursday in Abuja.
According to Urpilainen, the Global Gateway Initiative is crafted to enhance connectivity, promote sustainable development, and strengthen economic ties between the EU and its partner countries, including Nigeria.
She said that through the initiative, the EU would support Nigeria to achieve enhanced infrastructure connectivity, including transport, energy, digital networks, agriculture, economic growth, health and education.
“It will also promote sustainable development and environmental protection and foster cooperation and partnerships with Nigeria and other partner countries.
“Together, we intend to mobilise 300 billion Euros in investments by 2027, and half of them for Africa; it is 150 billion Euros by 2027; Nigeria features prominently in the Global Gateway investment package,” she said.