Nigeria Joins European Bank: A New Chapter in Economic Growth

An important step toward increasing private sector access to foreign finance and assisting the nation's long-term economic development has been taken with Nigeria's official admission as a member of the European Bank for Reconstruction and Development (EBRD).

Nigeria's formal entrance was made at the EBRD 2025 Annual Meetings in London, where a high-level delegation was led by Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy.

Speaking during the Plenary Session of the Board of Governors, Edun characterized Nigeria's admission as a critical turning point that is in line with President Bola Ahmed Tinubu's Renewed Hope Agenda.

Nigeria is celebrating this day with pride. An important turning point in our economic reform path has been reached with our entrance to the EBRD.

Edun declared, "We are dedicated to creating an open, rules-based economy that attracts private investment and promotes inclusive growth."

With more than 80 percent of its funding going to the private sector, the EBRD is essential in promoting large-scale investments in important areas, SMEs, and entrepreneurship.

Due to Nigeria's participation, local companies now have more access to development funding and technical know-how in high-priority sectors like digital innovation, infrastructure, energy transition, and agriculture.

In order to further solidify Nigeria's standing as an engaged and reliable partner in global economic governance, the Minister also conducted high-level bilateral meetings with delegations from the US and France.

Nigeria is poised to seize fresh chances for economic change through this strategic alliance, he said, solidifying its place as a major actor in global economic governance.