Nigeria joins EBRD, in new push for private sector-led growth

Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD), a milestone that underscores the government’s push to reposition the country as a magnet for global capital and private investment.

Wale Edun, Finance Minister and Coordinating Minister, led a federal government delegation to London this week for the EBRD’s 2025 Annual Meetings, where the country’s accession was formalised in a move aimed at deepening Nigeria’s ties with multilateral development institutions and bolstering its reform credentials.

“This is a proud day for Nigeria,” Edun told delegates at the EBRD Board of Governors’ plenary. “We are committed to building a transparent, rules-based economy that unlocks private investment and accelerates inclusive growth.”

The decision to join the EBRD comes amid President Tinubu’s broader “Renewed Hope Agenda,” a reform programme that includes fuel subsidy cuts, foreign exchange liberalisation, and efforts to curb inflation. Membership gives Nigeria access to the Bank’s investment toolkit, over 80% of which targets the private sector, spanning sectors such as energy, agriculture, infrastructure, and digital innovation.

Edun also held bilateral talks with US and French delegations on the sidelines of the meetings, seeking to position Nigeria as a trusted partner in global economic governance, according to a statement from the Finance Ministry.

The EBRD was founded in 1991 to help former Soviet bloc countries transition to market economies but has since expanded its mandate to parts of Africa and the Middle East. Nigeria’s admission is expected to pave the way for increased capital flows into key sectors of its economy, particularly from institutional and impact investors seeking bankable projects in frontier markets.

Analysts say EBRD engagement could offer a confidence boost to foreign investors still wary of Nigeria’s macroeconomic volatility. “Joining the EBRD adds credibility to Nigeria’s reform narrative… Nigeria wants to be at the table, not on the sidelines,” a London-based emerging markets strategist said. “The question now is how quickly the government can translate this into real investment on the ground.”

Held under the theme “Expanding Horizons, Enduring Strengths”, the EBRD meetings brought together leaders from over 70 economies to discuss strategies for inclusive and sustainable development.

As Africa’s most populous nation turns the page on a new chapter of multilateral engagement, Abuja is betting that aligning with institutions like the EBRD will help unlock not just funding, but trust.

By Onyinye Nwachukwu

https://businessday.ng/news/article/nigeria-joins-ebrd-in-new-push-for-private-sector-led-growth/