Nigeria’s Digital Economy To Receive £820m Investment Boost from European Union

 As part of efforts to strengthen Nigeria’s digitalisation strategy for economic transformation, the European Union under its Gateway Initiative has revealed its plans to invest 820-million euros as the union’s intervention for the next three years.

Speaking on the union’s decision, the Executive Vice President of the EU, Mrs. Margrethe Vestager enumerated that the funds invention includes the digital sector includes digital infrastructure investments, digitalisation of public services, digital entrepreneurship, digital skills, and digital governance.

YOU CAN ALSO READ: Accident Survivor, Tiffany Hainesworth Becomes First Black Woman To Own Tequila Brand Owner

She further extolled the exemplary attention and effort geared towards the digital space and noted that the need for stronger partnerships had brought global attention to the country’s digital economy sector.

“Nigeria has immense potential for digitalisation and with a combination of 160 million Euros in grants and 660 million Euros in loans, the EU aims to comprehensively support Nigeria’s digitalisation strategy,” she said.

Commenting on the development, the Minister of Communications and Digital Economy, Prof. Isa Pantami, expressed delight and lauded the union for the intervention and reiterated the Federal Government’s willingness to partner with the European Union.

According to the minister, the 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.

YOU CAN ALSO READ: I’m in The Business of Making People Look Great – Damilola Otufodurin

Nigeria, Africa’s largest economy, wants to modernize its digital economy to boost public services and revenues with digital entrepreneurship and its immense impacts on the nation’s economy.

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