Home / Economy / Nigeria, EU Sign €50m Development MoU

Nigeria, EU Sign €50m Development MoU

As part of measures to boost humanitarian and development efforts in the North-East geopolitical zone, Nigeria and the European Union (EU) have signed a Memorandum of Understanding (MoU) valued at €50 million.

The signing took place on the sidelines of the ongoing seventh Tokyo International Conference on African Development in Japan (TICAD7) in Yokohama, Japan, on Thursday, according to a statement issued by Femi Adesina, Special Adviser to the President on Media and Publicity.

According to the statement, the cooperation agreement was signed by Geoffrey Onyeama, Nigeria’s Foreign Affairs Minister, and Neven Mimica, EU Commissioner for International Cooperation and Development.

Adesina noted that the agreement would bring the EU’s financial support for the country to €562 million Euros from 2014 to 2020.

Speaking at the signing ceremony, President Muhammadu Buhari was quoted to have described as “pathetic the situation in internally displaced camps” in the North-East.

While thanking EU member states for their support, especially for the North East, President Buhari urged for further assistance to improve youth education in the region to take them out of poverty.

In his remarks, Commissioner Mimica said Nigeria’s request for enhanced assistance would be given priority consideration since it had come at the time that the EU was in the process of preparing its seven-year budget.

About Gabriel Ntoka

Check Also

SGF

COVID-19: PTF Indicates Possibility Of Imposing Fresh Lockdown

The Presidential Task Force on COVID-19 has indicated that a fresh lockdown may be imposed …

SGF

FG Laments Rise In COVID-19 Infections Among Politicians

The Nigerian government has lamented the high rate of COVID-19 positive cases among politicians in …

Leave a Reply

WhatsApp Newsbreak