Nigeria has officially become a member of the European Bank for Reconstruction and Development (EBRD), a significant step that is expected to greatly enhance the private sector’s access to international capital in both foreign exchange and local currency. The move is anticipated to support Nigeria’s long-term economic transformation by attracting investment and technical expertise.
Speaking at the EBRD’s 2025 Annual Meeting in London, which took place from 13 to 15 May, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, hailed the accession as a strategic achievement in the country’s ongoing economic reform efforts.
“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,” he said during the Board of Governors’ Plenary Session.
This year’s Annual Meeting, themed “Expanding Horizons, Enduring Strengths”, convened leaders and policymakers from over 70 economies to strengthen dialogue around inclusive development, economic resilience, and sustainability.
As a new member, Nigeria will benefit from increased access to the EBRD’s development finance tools and technical assistance, particularly in sectors like infrastructure, energy transition, agriculture, and digital innovation. The Bank directs more than 80 percent of its financing to the private sector, offering critical support to entrepreneurs, SMEs, and large-scale investment initiatives.
During the event, Mr Edun also engaged in bilateral discussions with delegations from France and the United States, further solidifying Nigeria’s status as a reliable and proactive player in global economic governance.