Nigeria is set to receive a €190 million (about ₦320.5 billion) credit line from the European Union through the European Investment Bank (EIB) to support farmers and agribusinesses across the country.
The facility, announced during the Global Gateway Forum in Brussels, will be disbursed through Nigerian commercial banks and development finance institutions to improve lending and enhance agricultural value chains, particularly in the cocoa and dairy sectors.
The program aims to expand access to finance, strengthen institutional capacity for long-term agricultural investment, and promote climate-friendly, sustainable farming practices.
It also complements ongoing EU support in Nigeria’s health and industrial sectors, including an €18 million grant for vaccine production and a €50 million facility for pharmaceutical development.
Nigerian officials reaffirmed the government’s commitment to creating an enabling environment for investment under President Bola Tinubu’s “Renewed Hope” agenda and the upcoming National Development Plan (2026–2030).
