EU Approves A Three Year €820m Digital Economy F or Nigerians

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EU Approves A Three Year €820m Digital Economy F or Nigerians
EU Approves A Three Year €820m Digital Economy F or Nigerians

Margrethe Vestager, Executive Vice-President of the European Union (EU) Commission, announced that the EU has approved a three-year Digital Economy Package worth €820 million for Nigeria.

 

 

This, she said, was part of a €150 billion Global Gateway Africa-Europe Investment Package announced recently by EU Commission President Ursula von der Leyen.

 

 

Vestager announced an EU-Nigeria Digital Economy Package worth at least €820 million until 2024 while leading delegation othe EU Commission to Vice-President Yemi Osinbajo at the State House.

 

According to her, the package will aid in improving secure connectivity, digitizing public services, fostering entrepreneurship, and developing human-centric democratic governance framework for technology.

In response, Osinbajo praised the EU’s Digital Economy support, calling it “impressive,” and noting that the use of digital technology is critical in Nigeria’s recently released National Development Plan.

 

The vice-president also expressed relief that the European Union (EU) agreed with Nigeria’s position that gas should be considered a transition fuel as the world moves toward net-zero emission targets.

 

“We are relieved to hear of the EU’s support for gas as a transition fuel,” he said. It’s a sigh of relief. Nigeria has been at the forefront of international advocacy on the subject.”

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The use of digital technology, trade and investment, and the importance of Nigeria and the EU’s energy relationship were also discussed at the meeting, while a consideration of all options for increased supply of Liquified Natural Gas (LNG) from Nigeria to the EU was agreed upon in response to a request from the EU.

 

During the meeting, the importance of a renewed Nigeria-EU partnership was highlighted, as were expectations for a successful EU-AU (European Union – African Union) Summit in Brussels later this week, specifically from the 17th to the 18th of February.