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The Federal Ministry of Budget and Economic Planning and its European Union (EU) partners have officially unveiled an “Investment Partnership Lab” targeting financing for transport and trade infrastructure project pipelines, particularly in waterways and coastal shipping.
The Minister of Budget and Economic Planning, Atiku Bagudu, and the EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, unveiled the lab on the sidelines of the National Economic Summit on Monday, which Nairametrics attended.
The partnership is also expected to leverage Boost Africa, an initiative involving the European Investment Bank (EIB), the African Development Bank (AfDB), and the European Commission, following investment commitments exceeding €100 million and prospects for expanded support for African enterprises.
Investment lab to mobilise financing for infrastructure projects
According to the minister, the lab aims to mobilise strategic partnerships and innovative financing for integrated transport and infrastructure project pipelines, while providing more insights into what Nigeria can do to advance its interests.
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He added that, under the leadership of President Bola Ahmed Tinubu, Nigeria is pursuing an ambitious economic reform agenda, including the aspiration to build a $1 trillion economy by 2030, with 86% of financing expected to come from the private sector.
He maintained that this ambition, embodied in the lab, reflects the nation’s enormous economic potential and determination to translate ongoing reforms into increased productivity, higher gross domestic product (GDP), more jobs, and improved welfare for Nigerians.
- “Our collective responsibility is to translate this aspiration into coordinated investment and measurable development outcomes,” he said.
Partners Must Identify Where Genuine Interests Exist – EU
The EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, said the event was a working session aimed at matching opportunities with partners, identifying the project preparation and agreeing on next steps.
He said the new partnership links agro-processing, minerals, manufacturing, and the blue economy to inland waterways, ports, and border logistics.
- However, he highlighted that the lab’s success would be measured by partners’ “ability to identify where genuine investment interest exists”, what is preventing projects from moving forward, and what each partner can contribute to overcoming these obstacles.
He recalled that the EIB and the European Commission had recently announced Boost Ventures in Africa, a successor initiative backed by a €129 million European Commission guarantee and €4.5 million in initial technical assistance under the European Fund for Sustainable Development Plus (EFSD+).
For Nigeria, he said this opens up real prospects, ranging from deeper venture capital for one of the continent’s most dynamic startup ecosystems to stronger local fund managers and a clearer path for Nigerian companies to expand across West Africa and beyond.
Waterways Offer Lower Freight Costs
Providing further insight into the lab, Benjamin Galadima, a Federal Ministry of Budget and Economic Planning official who serves as the Focal Officer for the European Union Unit, highlighted the need for the country to explore opportunities in seaports, regional shipping, border markets, industrial consumers, and export channels.
- “Road and rail alone cannot efficiently serve every productive corridor. Colonial-era routes were oriented towards moving commodities to ports; today’s economy needs diversified, interconnected networks,” he said.
- He stressed that, where navigability, cargo volumes, and terminals justify their use, “waterways and coastal shipping can offer lower unit costs for bulk freight.”
Within the first 30 days of the action plan, he disclosed that the Federal Government and its partners would convene a high-level meeting of Blue Bond ecosystem decision-makers to clarify mandates, issuer options, regulatory requirements, and responsibilities.
EU Expands Support for Nigeria
The development is the latest in Nigeria’s partnership with the European Union and its institutions.
In March 2026, the EU announced a €288 million support package for Nigeria, targeting key sectors, including healthcare, agriculture, finance, migration, climate, and digital public infrastructure.
The EU Delegation to Nigeria and ECOWAS disclosed this at the EU-Nigeria ministerial news conference in Abuja, noting that the funding forms part of a renewed commitment under the EU-Nigeria Partnership.
