Nigeria has officially become the 77th member of the European Bank for Reconstruction and Development.
The bank’s delegation, led by Heike Harmgart, presented the membership certificate to Finance Minister and Coordinating Minister of the Economy, Wale Edun, in Abuja on Thursday.
According to a statement by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, the presentation included discussions on future collaboration between Nigeria and the EBRD.
As part of its commitment to Nigeria, the EBRD delegation conducted an investment assessment to identify potential areas of support.
The bank also introduced Hamza Al-Assad as its first Country Director, who will be based in Lagos to oversee operations and strengthen engagement.
Welcoming the EBRD delegation, Finance Minister emphasized Nigeria’s ongoing macroeconomic reforms under President Bola Tinubu’s administration.
These include fuel subsidy removal, fiscal deficit reduction, exchange rate stability, and tax reforms—all aimed at attracting investment.
He also highlighted Nigeria’s potential as a regional production hub, with growth targets set at 7 per cent annually.
The European Bank for Reconstruction and Development, established in 1991, is an international financial institution that promotes economic development, private sector growth, and infrastructure investments in emerging markets.
