The European Bank for Reconstruction and Development (EBRD) has announced plans to invest at least $1.5 billion in Nigeria over the next three years, following the country’s admission as a shareholder of the international financial institution in July 2025.
The bank also revealed that it has already committed $280 million to projects in Nigeria since beginning operations in the country, with investments expected to increase as its presence expands.
Speaking during a media briefing after the inauguration of the EBRD’s Lagos office—its first in Sub-Saharan Africa—Managing Director for Sub-Saharan Africa, Heike Harmgart, said Nigeria offers significant investment opportunities despite facing major infrastructure challenges.
She explained that the bank only became eligible to finance projects in Nigeria after the country joined as a shareholder in July 2025 and officially became a country of operations in October of the same year.
According to Harmgart, the institution invested $100 million in 2025 and has committed an additional $180 million this year, bringing total investments to $280 million. She noted that EBRD does not allocate fixed investment limits for individual countries, stressing that funding depends on the availability of viable projects.
She added that the bank expects to invest around $300 million in Nigeria this year and hopes to exceed the projected minimum investment of $1.5 billion over the next three years if more bankable projects emerge.
Harmgart also said discussions with Nigerian authorities have been encouraging, noting that the government is eager to attract greater investment and strengthen cooperation with the institution.
EBRD’s Country Head for Nigeria, Hamza Al-Asaad, said the bank has identified key sectors with strong investment potential, including infrastructure, energy, agribusiness, manufacturing, digital infrastructure and financial services.
He disclosed that the institution has already partnered with Access Bank through a $100 million trade finance facility and is engaging other leading Nigerian banks to expand financial sector support.
Beyond financing, Al-Asaad said the EBRD is collaborating with the Central Bank of Nigeria and other stakeholders to support financial market reforms, including efforts that contributed to the launch of the Nigerian Overnight Financing Rate.
Harmgart highlighted Nigeria’s electricity supply as one of the country’s biggest obstacles to economic growth, noting that businesses continue to face high operating costs due to unreliable power and dependence on generators.
She said improving electricity transmission, distribution and private sector investment in the power industry would significantly lower business costs, boost productivity and encourage greater private investment across the economy.
Al-Asaad described the power sector as one of Nigeria’s greatest investment opportunities, adding that reliable and affordable electricity would enable businesses to grow faster while strengthening the country’s overall economic competitiveness.
