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EU Supports Nigeria’s Digital Economy Growth With N387b

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Vice President Yemi Osinbajo, SAN, receives in audience the Executive Vice President of the European Commission, Ms Margrethe Vestagar, at the Statehouse, Abuja. 13th Feb, 2022. Photos; Tolani Alli

The European Union (EU) has said it would support Nigeria’s Digital Economy growth with about N387b.

It announced  a total fund of €820million euros (about N387 billion).

It said the fund  is for its EU-Nigeria Digital Economy that will last until 2024.

Executive Vice President of the European Commission, Vice-President, Margrethe Vestager stated this in a release Sunday

Vestager and his delegation visited the Nigerian Vice President, Yemi Osinbajo, at the Presidential Villa.

According to him, the digital economic fund will help in connectivity.

He also said that the fund will help Nigeria build digital skills and digitalise government operations.

According to him, the President of the Commission, Ursula von der Leyen,  made a previous donation.

He said the president had announced a Global Gateway Africa-Europe Investment Package worth €150 billion.

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“The package will help enhance secure connectivity, digitalise public services and support entrepreneurship.

He said it will also, help “build digital skills, while developing a human-centric, democratic governance framework for technology.”

Meanwhile, Osinbajo who received the delegation, welcomed the EU’s support.

The support proposes the consideration of gas in Nigeria as a transition fuel.

He said this would align with the global community’s target of net-zero emissions to protect the climate.

“We are relieved to hear of the EU’s support on gas as a transition fuel.

” It’s some bit of relief,” Osinbajo said.

He said that Nigeria has been very vocal with its advocacy for net-zero emissions even at the international scenes.

This is even as the Vice President has spoken and written about it in different international forums.

Also, expressing joy for the EU’s support for Nigeria’s Digital Economy growth, the Vice President noted thus:

He said the use of Digital Technology is crucial since Nigeria’s just recently released National Development Plan.

Meanwhile, the delegation and the VP’s team discussed the importance of a renewed Nigeria-EU partnership.

It said during the meeting, including expectations for a successful EU-AU (European Union – African Union) Summit in Brussels later this week, specifically on the 17th-18th of February.

Issues discussed at the meeting included the use of Digital Technology, Trade and Investment.

The group also discussed the importance of the energy relationship between Nigeria and the EU.

also featured, while a consideration of all options for increased supply of Liquified Natural Gas (LNG), from Nigeria to the EU was agreed to, following a request from the EU.

Nigeria will convene a technical meeting on this shortly.

Implication:

This fund will help increase digital skills in Nigeria.

Also, since government plans on digitalizing all its processes, the economy taking this turn is a welcome development.

With the EU fund, Nigerians will have resources to get all the necessary digital economic skills they need to thrive.

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