EU mulls €820m investment in Nigeria’s digital economy

The European Union (EU) under its Gateway Initiative has disclosed plans to invest about €820 million in the Nigerian digital economy sector over the next three years.

Executive Vice President of the EU, Mrs. Margre Vestager, disclosed this in a statement signed by Mrs. Uwa Suleiman, spokesperson for the Minister of Communications and Digital Economy, Isa Pantami, on Monday, in Abuja.

Vestager, who was on a working visit, enumerated the union’s intervention in the sector to include: digital infrastructure investments, digitalisation of public services, digital entrepreneurship, digital skills and digital governance.

“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,” she said.

In his response, Pantami expressed delight and appreciation for the intervention and reiterated the Federal Government’s willingness to partner with the European Union.

Pantami emphasised on the digital entrepreneurship and its immense impacts on the nation’s economy.

The minister further informed the delegation that Nigeria hoped to achieve the paperless office by the year 2030, which was already on track.

“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 is in alignment with the Nigeria Digital Economy Policy and Strategy (NDEPS),” he said.

TheStar