The Global Gateway Initiative, announced by the European Union (EU), aims to boost infrastructure development in Nigeria and other African nations by allocating £150 billion over the course of four years, by 2027.
This was announced by Jutta Urpilainen, EU Commissioner for International Partnerships, during the Global Gateway project launch on Thursday in Abuja.
The Global Gateway Initiative, according to Urpilainen, is designed to improve connectivity, foster sustainable development, and fortify economic links between the EU and its partner nations, including Nigeria.
According to her, the EU will assist Nigeria in achieving improved infrastructure connections through the project, especially in the areas of transportation, electricity, digital networks, agriculture, economic expansion, health, and education.
“It would also encourage collaboration and partnerships with Nigeria and other partner nations, as well as sustainable development and environmental preservation.
Together, we want to attract 300 billion euros in investments by 2027, with 150 billion euros going to Africa. Nigeria is a key player in the Global Gateway investment package, she added.