Nigeria Joins European Bank for Reconstruction and Development to Boost Economy
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has confirmed Nigeria’s admission into the European Bank for Reconstruction and Development (EBRD).
This development aims to support Nigeria’s ongoing economic reform efforts. This is contained in a statement on Thursday by Mr Mohammed Manga, Director of Information and Public Relations in the ministry.
Edun led Nigeria’s delegation to the EBRD 2025 Annual Meetings in London, where the country’s accession was formalised. “This is a proud day for Nigeria. Our accession to the EBRD marks a major milestone in our economic reform journey,” Edun said.
He affirmed the government’s commitment to building a transparent, rules-based economy that attracts private investment and drives inclusive growth.
The EBRD directs over 80 per cent of its financing to the private sector, supporting entrepreneurs, SMEs, and large-scale investments in vital industries.
Edun said Nigeria’s membership will open access to development finance and technical support in energy transition, infrastructure, agriculture, and digital innovation. The reports that the minister also held bilateral meetings with officials from France and the United States.
These meetings further reinforced Nigeria’s role as a reliable partner in global economic governance. The theme of the 2025 Annual Meeting is ‘Expanding Horizons, Enduring Strengths’.
Edun stated that Nigeria is ready to leverage EBRD’s expertise to drive growth, create jobs, and improve citizens’ lives. He said the partnership will unlock opportunities for transformation, strengthening Nigeria’s position in the global economy.
The minister noted the development aligns with President Bola Tinubu’s Renewed Hope Agenda. The 2025 meetings gathered leaders from over 70 countries to discuss inclusive growth, resilience, and sustainable development.
