The European Union (EU) has announced intentions to invest roughly 850 million euros in Nigeria’s digital economy over the next three years as part of its Gateway Initiative.
This information was revealed by Her Excellency Margrethe Vestager, the Union’s Executive Vice President, during a working visit to the Honourable Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami), at the Digital Economy Complex in Abuja on Monday, February 14, 2022.
While praising the Minister’s exceptional leadership style, Mrs Vestager remarked that this, together with the need for better collaborations, has drawn international attention to the country’s Digital Economy sector. Digital Infrastructure Investments, Digitalisation of Public Services, Digital Entrepreneurship, Digital Skills, and Digital Governance are among the Union’s interventions in the area, she said.
“Nigeria has enormous digitalization potential, and the European Union plans to thoroughly support Nigeria’s digitalization strategy with a mix of one hundred and sixty million euros in grants and six hundred and sixty million euros in loans,” she said.
Professor Pantami responded by expressing his delight and gratitude for the intervention while also reiterating the Federal Government’s desire to work with the European Union. “Africa has traditionally looked to Europe for technical developments, and this alliance is a welcome development that will help our country realize its digitalization goals.” Professor Pantami was particularly interested in digital entrepreneurship and the enormous impact it will have on the economy of the country. “This alliance, in terms of digital entrepreneurship, would address the issue of unemployment and unemployability in tandem with the Nigeria Startup Bill, which intends to solve a variety of concerns within the ecosystem.” The Minister also told the team that Nigeria aims to have a paperless office by 2030, and that it is on pace, given the rate at which public institutions are adopting the digital economy agenda.
The European Union’s engagement is in line with the Nigeria Digital Economy Policy and Strategy (NDEPS), a digital roadmap developed and championed by Professor Pantami in support of President Muhammadu Buhari’s economic digitalization effort (GCFR).
Mrs. Uwa Suleiman, Spokesperson for the Honourable Minister, February 14, 2022
