Achieving a digital economy is a priority in the New National Development Plan (NDP) 2021-2025, unveiled in December 2021 by President Muhammadu Buhari. Several international partners expressed intentions to support the project.
The European Union has announced an investment of €820 million to support Nigeria’s digital transformation over the next three years. The information was unveiled on Saturday, February 12 in Lagos by an adviser to the Executive Vice President of the European Commission, Alejandro Cainzos. This was during a roundtable discussion with Nigerian youth organized at the Tony Elumelu Foundation.
“The EU will support building the fiber optic cables and data centers needed to improve Nigerian’s access to high-speed connectivity. The European Investment Bank (EIB) will invest €100 million to expand secure 4G connectivity in Lagos and Ogun States and triple the national data capability,” said Alejandro Cainzos.
He said the EU will also support the digitization of the Nigerian administration to enable citizens to benefit from better and more easily accessible public services. €250 million will be invested to strengthen Nigeria's digital identity infrastructure with the highest data protection standards and support the creation and scaling of tech startups and stimulate innovative solutions for Nigeria's society and economy.
The EU will help develop regulatory frameworks with the highest standards of privacy, security, and cybersecurity, while promoting an open Internet and a digital market that respects citizens' rights, Alejandro Cainzos said.
The EU investment in Nigeria came two days after the organization announced an investment of more than €150 billion in Africa over the next five years. European Commission President Ursula von der Leyen was in Dakar on Thursday, February 10, just days before the European Union-African Union summit to be held on February 17-18 in Brussels, Belgium.
Last year, the Nigerian government unveiled a new National Development Plan 2021-2025 which places digital technology at the heart of many growth issues.
Muriel Edjo
