EU to invest €820m in Nigeria’s digital ecosystem

The European Union planned to invest €820 million in the Nigerian digital ecosystem through its Gateway Initiative over the next three years.

The EU Executive Vice President, Mrs. Margre Vestager, disclosed this in a statement issued by the spokesperson for the Minister of Communications and Digital Economy, Mrs. Uwa Suleiman, on Monday in Abuja.

Vestager, who was on a working visit to the country, listed the EU intervention in the sector to include investments in digital infrastructure, digitalisation of public services, digital entrepreneurship, digital skills and digital governance.

She said: “Nigeria has immense potential for digitalisation and with a combination of €160 million in grants and €660 million in loans, the EU aims to comprehensively support Nigeria’s digitalisation strategy.”

The European Union planned to invest €820 million in the Nigerian digital ecosystem through its Gateway Initiative over the next three years.

The EU Executive Vice President, Mrs. Margre Vestager, disclosed this in a statement issued by the spokesperson for the Minister of Communications and Digital Economy, Mrs. Uwa Suleiman, on Monday in Abuja.

Vestager, who was on a working visit to the country, listed the EU intervention in the sector to include investments in digital infrastructure, digitalisation of public services, digital entrepreneurship, digital skills and digital governance.

She said: “Nigeria has immense potential for digitalisation and with a combination of €160 million in grants and €660 million in loans, the EU aims to comprehensively support Nigeria’s digitalisation strategy.”

In his response, the Minister of Communications and Digital Economy, Isa Pantami, thanked the EU for the intervention and reiterated the Federal Government’s willingness to partner with the union.

He highlighted the importance of digital innovation to the nation’s economy.

The minister said Nigeria hoped to achieve the paperless system by 2030.

Pantami said: “Africa has always looked up to Europe in the area of technological advancements and this partnership is a welcome development that will project the digitalisation aspirations of our country.

“This partnership with regards to digital entrepreneurship, will address the challenge of unemployment and non- employability alongside the Nigeria Startup Bill which also aims to address a myriad of issues within the ecosystem.

“The European Union intervention is in alignment with the Nigeria Digital Economy Policy and Strategy (NDEPS).”