Abuja: The European Commission has signed a EUR 677 million (USD 1 billion) deal to help Nigeria tackle challenges in its restive oil-producing region, promoting peace, good governance and trade, the EU said on Friday.
The EU said the deal, signed in Brussels on Thursday by European Commissioner for Development and Humanitarian Aid Karel De Gucht and Nigeria`s Executive Secretary of the National Planning Commission Sylvester Monye, was "an ambitious step forward in cooperation" and "a direct result of the Nigeria-EU political dialogue".
"It reinforces cooperation in three strategic areas: peace and security; governance and human rights; trade and regional integration with EUR 677 million for the period 2009 to 2013 financed through the European Development Fund, " the EU said in the statement released in the Nigerian capital on Friday.
De Gucht said: "This agreement shows that Europe stands by Nigeria and its people in the development challenges it faces. I`m delighted that a substantial amount of this financing will go to support conflict resolution and the peace process in the Niger Delta which has been ravaged by years of unrest."
The Niger Delta has for more than three years been a haven for armed militants claiming to be fighting for a greater share of oil wealth for their communities.
At the peak of the unrest Nigeria, the world`s eighth largest exporter of crude, saw its output slashed by a third.
"We are fully committed to supporting the government of Nigeria in the process of restoring peace and bringing development to the region," De Gucht added.
The cooperation programme entails a "Country Strategy Paper and National Indicative Programme" (CSP/NIP) of the 10th European Development Fund (EDF), which covers the period 2008-2013.
The EU said this CSP/NIP differs significantly from the earlier 10th EDF (2008-2013) cooperation strategies launched with the other African, Caribbean and Pacific countries.
"For the first time it ties political dialogue at the highest levels with cooperation policy," it said, adding that the strategy and programme are based on the priorities established at the EU-Nigeria Ministerial meetings in Ljubljana (May 2008) and Prague (June 2009).
Bureau Report
