EU Gifts Nigeria N385 Billion to Boost Digital Infrastructure as FG says it Plans to Export More Gas

EU Gifts Nigeria N385 Billion to Boost Digital Infrastructure as FG says it Plans to Export More Gas

  • The European Union has promised to inject about N385 into Nigeria's digital economy in the next three years
  • According to the EU, it will inject the money to accelerate digital infrastructure in the country as the country shifts towards full digital economy
  • Vice President Osinbajo said that Nigeria will partner with the EU to increase gas supply to countries in Europe

The European Union is partnering with Nigeria to grow its digital economy in the next three years.

The EU under the aegis of Gateway Initiative has said that it will invest about N385 billion in Nigeria’s digital space.

Nairametrics reports that the Executive Vice President of the EU, Margre Vestager made this known in a statement signed by Uwa Suleiman, the spokesperson for the Minister of Communication and digital economy, Isa Pantami on Monday, February 14, 2022, in Abuja.

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Minister of Communications and Digital Economy, Isa Pantami
Minister of Communications and Digital Economy, Isa Pantami Credit: Pantami
Source: Twitter

What the Europan Union said

According to the release, the EU, under the initiative, has made plans to invest about N385 billion into the Nigerian Digital Economy in the next three years.

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Vestager said the EU has plans to invest in digital infrastructure, public services, digital entrepreneurship, skills and governance.

She pointed out that Nigeria has a lot of potential for digitalisation and with a mixture of N385 billion in loans and grants, the EU intends to comprehensively support the country’s digital progress.

Isa Pantami said the EU’s intervention is timely and affirmed the Federal Government's willingness to partner with the EU.

Nigeria responds to EU's gesture

He said Africa has always looked up to the EU when it comes to technological advancements and this partnership is a welcome development that will project the digitalisation of Nigeria.

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Laolu Akande, an aide to Vice President Yemi Osinbajo said the Nigerian government is making plans to increase gas export to the EU.

Akande said on Monday, February 14, 2022, that is relieved to hear that the EU’s readiness to explore the development of Nigeria’s digital economy, as per a report by The Punch and that the country is working with the EU to raise the supply of LNG to European countries.

Cooking gas: FG projects further reduction as price drops has reported that the market situation in the country seems tense at the moment following the rising cost price of goods in markets across the country.

On Thursday, January 6, the federal government said it was putting measures in place to ensure a further reduction in the cost of Liquefied Petroleum Gas, popularly called cooking gas, The Punch reports.

It disclosed this while reacting to the recent marginal drop in the cost of cooking gas.


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