The European Union, under its Global Gateway Initiative, has disclosed plans to invest about €820 million in the Nigerian digital economy sector over the next three years.
The Executive Vice President of the EU, Margre Vestager, disclosed this while on a working visit, according to a statement yesterday by Uwa Suleiman, spokesperson to the Minister of Communications and Digital Economy, Isa Pantami.
She listed the areas of the EU’s intervention to include digital infrastructure investments, digitalisation of public services, digital entrepreneurship, digital skills and digital governance.
She noted that the need for stronger partnerships had brought global attention to Nigeria’s digital economy sector.
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.”
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.
In his response, Pantami expressed delight and appreciation for the intervention and reiterated Nigeria’s willingness to partner with the EU, while stressing the impact of digital entrepreneurship on the nation’s economy.
He further informed the delegation that Nigeria was on track to achieving the paperless office by 2030.
He 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 aligns with the Nigeria Digital Economy Policy and Strategy (NDEPS),” he said.
The EU had last week in Dakar, Senegal, unveiled plans to mobilise investment of over €150 billion for Africa under the Initiative.
