Nigeria Gains Membership of European Reconstruction, Dev’t Bank

Nigeria has been formally admitted as a member of the European Bank for Reconstruction and Development (EBRD), marking a step towards boosting private sector access to international capital and supporting the country’s long-term economic transformation.

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, led a high-level delegation to the EBRD 2025 Annual Meetings in London, where its admission was formalised, a statement by Mohammed Manga, Director of Press at the finance ministry, has said.

Speaking at the Board of Governors’ Plenary Session, Edun described Nigeria’s membership as a strategic milestone which aligns with President Bola Ahmed 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.

“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 across priority areas such as energy transition, infrastructure, agriculture and digital innovation,” he explained.

The finance minister added that as Nigeria embarks on this new chapter of economic cooperation with the EBRD, the country is poised to leverage the bank’s expertise and resources to drive sustainable growth, create jobs and improve the lives of its citizens.