The European Union and Nigeria have reached a credit agreement of 190 million euros to support Nigeria’s agricultural sector. Officially announced in Brussels during the Global Gateway Forum, this partnership aims to modernize key sectors such as cocoa and dairy products, while improving access to financing for farmers. A strong signal in favor of a more sustainable, inclusive, and strategic agriculture for the country’s economy.
To enhance access to credit for Nigerian farmers and agribusinesses, particularly in the cocoa and dairy sectors, the European Union and Nigeria have signed a credit agreement worth 190 million euros. This commitment was officially made on October 14, 2025, during the Global Gateway Forum in Brussels. The stated goal is to promote more sustainable and climate-resilient agriculture, while boosting domestic production and private investment in this strategic sector. Agriculture represents nearly 20% of Nigeria’s GDP, yet it receives only about 4% of bank loans.
« Our government is determined to create an environment conducive to investment through the upcoming National Development Plan (2026-2030) and the Neighborhood Development Program, which will ensure that growth reaches local communities, »
Bolaji Onalaja, Assistant to the Minister of Budget – Nigeria
For the Nigerian government, this European support fully aligns with President Bola Ahmed Tinubu’s Renewal Agenda, which places agricultural modernization at the heart of his strategy for economic diversification and food security improvement. However, experts emphasize that the success of this agreement will largely depend on the ability of local financial institutions to distribute these funds efficiently, ensure rigorous monitoring, and, most importantly, ensure they reach smallholder farmers and the true actors in agricultural value chains.
“Agriculture remains the bed rock of Nigeria’s economy and an immense potential to significantly increase our growth domestic product, GDP”
Segun Alabi, Agriculture Expert – Nigeria
Certains y voient une étape clé dans les relations économiques entre l’Europe et l’Afrique. En 2023, les échanges commerciaux entre le Nigeria et l’Union européenne ont atteint 24,6 milliards d’euros, selon le média BusinessDay. Ce nouveau partenariat pourrait donc devenir un accélérateur de croissance pour un secteur encore sous-exploité, avec un fort potentiel de création de valeur.
Some see it as a key step in the economic relations between Europe and Africa. In 2023, trade between Nigeria and the European Union reached 24.6 billion euros, according to the media outlet BusinessDay. This new partnership could therefore become a growth accelerator for a sector that is still underdeveloped, with high potential for value creation.
“With our vast arable land, favourite climate and resilient labour force, Nigeria positions, to annexe agriculture for sustainable economic growth”
Segun Alabi, Agriculture Expert – Nigeria
In the long term, this agreement could transform the country’s value chains, encourage financial inclusion, strengthen exports, and reduce Nigeria’s reliance on oil revenues. It promises sustainable jobs, particularly in rural areas, and represents another step toward a stronger, more modern Nigerian agriculture… better equipped to face the challenges of tomorrow.
