EU announces €820m digital economy package for Nigeria

The European Union, EU, has announced an EU-Nigeria Digital Economy of at least €820million until 2024.

The spokesman for the Vicè president Laolu Akande said in a release on Monday that Executive Vice President of the European Commission, Vice-President, Margrethe Vestager, stated this when her delegation visiting Nigeria met with Vice President Ýemi Osinbajo on Sunday.

The European Commission’s Executive VP informed Prof. Osinbajo that the President of the Commission, Ursula von der Leyen, had announced a Global Gateway Africa-Europe Investment Package worth €150 billion.

“The package will help enhance secure connectivity, digitalise public services, support entrepreneurship and build digital skills while developing a human-centric, democratic governance framework for technology,” Akande said in the release.

Akande also said that the vice president expressed relief that the European Union (EU) supports the view canvassed by Nigeria that gas is considered a transition fuel as the global community moves towards net-zero emissions targets.

“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 at the forefront of the international advocacy on the issue and the Vice President has spoken and written about it in different international forums.

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 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.

A technical meeting on this will be convened shortly.

Welcoming on the EU Digital Economy support, which Vice President Osinbajo described as impressive, he noted that the use of Digital Technology is crucial in Nigeria’s recently released National Development Plan.

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 on the 17th-18th of February. (VON)