The European Union says it has concluded a plan to adopt a seven-year funding scheme for its interventions in Nigeria to the tune of €508m.
Press Officer, EU Delegation to Nigeria and ECOWAS, Modestus Chukwulaka, in a statement Wednesday, said the EU’s joint priority areas for cooperation with Nigeria included the adoption of a Multiannual Indicative Programme (MIP).
He said the MIP for Nigeria (2021-2027) would focuse on three broad priority areas, namely: green and digital economy; governance, peace and migration as well as human development.
“Under the programme, the EU will provide €508m to fund projects that reinforce its bilateral cooperation with Nigeria for the period 2021-24. Financial allocation for the period 2025-2027 will be determined after a review in 2024.”
According to the statement, “The adoption of the MIP is an important step in reinforcing and concretising the EU’s cooperation with Nigeria. It’ll enable the EU and Nigeria to continue working together on programmes and projects that are built on shared objectives, principles and values.
“Already three new projects have been signed under this new programming: EU Support to Democratic Governance (€39m), EU Support for Innovation and Jobs for Youth in Nigeria (€55m) and EU-Nigeria Cooperation Facility (€21.4m).
The EU Ambassador to Nigeria and ECOWAS, Samuela ISOPI, said: “We’re glad to launch this multiannual programme during the visit of the Executive Vice President of the European Commission, Ms Margrethe Vestager, and on the eve the 6th EU-African Union Summit in Brussels.”