The European Union (EU) on Wednesday said that it has earmarked 150 million Euros (N50 billion) to assist Nigeria in training young engineers in that would work on improving outputs of the power sector.
The Ambassador and Head of EU Delegation to Nigeria, Michel Arrion gave the hint at the 5th Edition of EU-Nigeria Business Forum (EUNIBF) pre-event news conference in Lagos.
According to him, the grant will also fund some technical aspects of the sector.
He said the EU is collaborating with National Power Training Institute of Nigeria (NAPTIN) to inject young engineers into the sector, being an important aspect of the Nigerian economy.
He explained that the EU is already financing a transmission project in Katsina State and have spent over five million Euro, amounting to 1.6 million naira
Arrion stated that the forthcoming business forum would focus on creating opportunities for EU and Nigerian Small and Medium Enterprises (SMEs) to create their businesses through Enterprise Europe Network (EEN).
He said, “We want to identify opportunities in the textile value chain and proffer options for accessing long term finance for the critical power sector in Nigeria. The 5th EUNIBF has been designed to discuss business opportunities and address bottlenecks to investments, particularly in the power sector. We will focus on diversification of the economy through SMEs.”
Meanwhile, Counsellor, Head of Trade and Economics Section of EU, Filippo Amato, said the 2016 business forum would take place in Lagos between November 10 to 11 with the theme: “Harnessing Nigeria’s Potential for Economic Growth’’.
Amato listed key speakers at the event to include Lagos state governor, Akinwumi Ambode, his Kaduna state counterpart, Nasir El-Rufai. President of African Development Bank (AFDB), Akinwumi Adesina, Minister of Industry, Trade and Investment, Okechukwu Enelamah, and Minister of Works, Housing and Land, Babatunde Fashola.
He added that Minister of Budget and National Planning, Sen. Udoma Udo Udoma and the State Secretary, Ministry of Foreign and European Affairs, Slovak Republic, Lukas Parizek, are also among the expected guests.
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