Nigeria formally joins European Bank for reconstruction, development

Nigeria has been formally admitted as a member of the European Bank for Reconstruction and Development (EBRD), marking a significant step towards boosting private sector access to international capital and supporting the country’s long-term economic transformation.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun led a high-level delegation to the EBRD 2025 Annual Meetings in London, where Nigeria’s accession was formalized.

Speaking at the Board of Governors’ Plenary Session, Edun described Nigeria’s membership as a strategic milestone aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

“This is a proud day for Nigeria. Our accession to the EBRD marks a critical milestone in our economic reform journey.

“We are committed to building a transparent, rules-based economy that unlocks private investment and accelerates inclusive growth,” Edun stated.

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With over 80 percent of its financing directed towards the private sector, the EBRD plays a pivotal role in supporting entrepreneurship, SMEs, and large-scale investments across key sectors. 

Nigeria’s membership opens new opportunities for local businesses to access development finance and technical expertise across priority areas such as energy transition, infrastructure, agriculture, and digital innovation.

The Minister also held high-level bilateral meetings with delegations from France and the United States, reinforcing Nigeria’s position as an active and trusted partner in global economic governance.

Held under the theme “Expanding Horizons, Enduring Strengths,” the 2025 EBRD Annual Meetings brought together leaders from over 70 economies to advance dialogue on inclusive growth, resilience, and sustainable development.

In a statement, Mohammed Manga, Director, Information and Public Relations said as Nigeria embarks on this new chapter of economic cooperation with the EBRD, the country is poised to leverage the Bank’s expertise and resources to drive sustainable growth, create jobs, and improve the lives of its citizens. 

He noted that with this strategic partnership, Nigeria is set to unlock new opportunities for economic transformation, cementing its position as a key player in global economic governance.

NIGERIAN TRIBUNE