Nigeria has been formally admitted as a member of the European Bank for Reconstruction and Development (EBRD) to enhance private sector access to foreign capital.
This development is expected to significantly boost private sector access to international capital in both foreign exchange and local currency, supporting the country’s long-term economic transformation.
The EBRD is a leading climate financier globally, investing in climate change initiatives, green energy, and sustainable growth.
A strategic milestone
Speaking at the EBRD’s 2025 Annual Meetings in London, Minister of Finance, Wale Edun, described Nigeria’s accession as a strategic milestone that aligned with President Bola 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,” the Minister stated during the Board of Governors’ Plenary Session.
With over 80% 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 in 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.
Background
The 2025 EBRD Annual Meetings, themed “Expanding Horizons, Enduring Strengths,” brought together leaders from over 70 economies to advance dialogue on inclusive growth, resilience, and sustainable development.
Nigeria initially joined the EBRD as its 77th shareholder in March, marking a significant milestone in the country’s economic trajectory.
This followed Nigeria’s application to join the bank in April 2024, which the EBRD’s Board of Governors approved in May 2024.
What You Should Know
- The EBRD is committed to fostering economic transitions by combining investments, advisory initiatives, and policy reforms.
- Its efforts emphasize private-sector development and sustainable change, leaving a long-lasting positive legacy.
- While currently prioritizing support for Ukraine, the bank is advancing its mission to create greener, more inclusive, and more digitally integrated economies across its regions of operation.
