Nigeria has joined the European Bank for Reconstruction and Development (EBRD) at its 77th member country .
This was contained in a statement by Mohammed Manga, Spokesperson for the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Thursday.
The statement disclosed that a delegation from the EBRD, led by Heike Harmgart, presented Nigeria’s membership certificate to the Minister in his office in Abuja.
Manga said the presentation witnessed discussions on future collaboration, with the delegation conducting an investment assessment to explore potential areas of support.
It also introduced Hamza Al-Assad as the first Country Director, based in Lagos as part of its commitment to Nigeria.
While welcoming the membership, the Minister emphasised on the macroeconomic reforms under President Bola Ahmed Tinubu led administration, including fuel subsidy removal, fiscal deficit reduction, exchange rate stability, and tax reforms to attract investment.
Edun highlighted Nigeria’s potential as a regional production hub, with growth targets set to reach seven per cent annually.
With the presentation, Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD), marking a significant milestone in the country’s efforts to strengthen its economy and attract foreign investment.
The EBRD, an international financial institution established in 1991, supports economic development, private sector growth, and infrastructure investments in emerging markets. Financing projects in energy, financial institutions, SMEs, and infrastructure.
“The visit marks a deepening partnership, paving the way for increased private sector and infrastructure investments in Nigeria.
“As Nigeria embarks on this new partnership with the EBRD, the country is poised to unlock its vast economic potential, drive sustainable growth, and cement its position as a key player in the global economy,” the document added.