The European Bank for Reconstruction and Development (EBRD) has unveiled plans to invest at least $1.5 billion in Nigeria over the next three years as it deepens its presence in the country following Nigeria’s admission as a shareholder of the multilateral lender.
The bank, which opened its first Sub Saharan Africa office in Lagos on Friday, disclosed that it has already committed $280 million to projects in Nigeria within less than one year of commencing operations, with investments expected to gather momentum as more bankable projects emerge.
Speaking during a media chat after the official opening of the Lagos office yesterday, EBRD managing director for Sub Saharan Africa, Heike Harmgart, said Nigeria has quickly become one of the bank’s priority markets, adding that the lender remains optimistic about expanding its investment footprint.
She explained that the EBRD only became eligible to finance projects in Nigeria after the country became a shareholder in July 2025 and attained country of operations status in October 2025.
“Nigeria only became a shareholder of the EBRD last July and became a country of operations last October.”
