EBRD targets $1.5bn investments in Nigeria over 3 years

The European Bank for Reconstruction and Development (EBRD) has announced ambitious plans to invest a minimum of $1.5 billion in Nigeria over the next three years, signaling a significant expansion of its operations into Sub-Saharan Africa. This commitment follows the official opening of the bank's first regional office in Lagos on Friday.

Heike Harmgart, the EBRD's Managing Director for Sub-Saharan Africa, and Hamza Al-Assad, the bank's Country Director for Nigeria, disclosed the investment target. The move underscores the bank's confidence in Nigeria's private sector and its potential for investment, especially after entering the Nigerian market in October 2025.

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I’m personally very proud of Hamza and the team that we are already at $280 million, although we’ve only been here for less than a year, and already in the first half of this year have invested $180 million.

Harmgart highlighted the bank's demand-driven approach, focusing on financing viable projects rather than adhering to fixed allocations. Within its first year, the EBRD has already committed approximately $280 million in Nigeria, with $180 million invested in the first half of the current year. The bank anticipates investing around $300 million this year and aims for the $1.5 billion minimum over the next three years, viewing it as an estimate rather than a rigid target.

This strategic investment by the EBRD is expected to foster economic growth and development within Nigeria's private sector, leveraging opportunities identified by the bank's presence and operational focus in the region.

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I think this year is looking good. We’re probably looking at around $300 million this year, but we don’t have a particular ceiling or target as such. We want to pursue as many opportunities as possible. Over the next three years, our expectation is that we would do a minimum total of $1.5 billion, but again, that’s an estimate.