Finance Minister receives Nigeria’s EBRD membership certificate

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has officially received Nigeria’s membership certificate as the 77th EBRD member.

A delegation from the European Bank for Reconstruction and Development (EBRD), led by Heike Harmgart, presented  Nigeria’s membership certificate to the Minister in his office in Abuja.

In a statement on Thursday, Mohammed Manga, Director, Information and Public Relations said the presentation witnessed discussions on future collaboration.

The delegation conducted an investment assessment to explore potential areas of support. It also introduced Hamza Al-Assad as the first Country Director, based in Lagos as part of its commitment to Nigeria.

While welcoming the membership, the Minister emphasised macroeconomic reforms under President Bola Ahmed Tinubu’s administration, including fuel subsidy removal, fiscal deficit reduction, exchange rate stability, and tax reforms to attract investment. 

He highlighted Nigeria’s potential as a regional production hub, with growth targets set to reach 7% annually.

With the presentation, Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD), marking a significant milestone in the country’s efforts to strengthen its economy and attract foreign investment.

The EBRD, an international financial institution established in 1991, supports economic development, private sector growth, and infrastructure investments in emerging markets. Financing projects in energy, financial institutions, SMEs, and infrastructure.

He said the visit marks a deepening partnership, paving the way for increased private sector and infrastructure investments in Nigeria.

“As Nigeria embarks on this new partnership with the EBRD, the country is poised to unlock its vast economic potential, drive sustainable growth, and cement its position as a key player in the global economy,” Manga stated.

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