EU Commits $1.4 Billion in Climate Financing to Nigeria

nigeria. eu. climate.

The EU funding will support project development until 2027, including the development of a fish farm in Ogun state in southwestern Nigeria and a waste-to-energy initiative in Cross River, south of Nigeria.

With crude oil accounting for 7% of the country’s gross domestic profit and nearly all foreign exchange earnings, Nigeria hopes to kickstart multi-sector development, promoting investment in sectors such as agriculture and technology in order to reduce the reliance on crude oil.

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Onur Yilmaz

Onur Yilmaz