Fayolle: Nigeria is a Strategic Priority for EIB in Africa

Nigeria holds a central position in the European Investment Bank's (EIB) strategic engagement across Sub-Saharan Africa, according to EIB Vice-President Ambroise Fayolle. During his inaugural official visit to Nigeria, Fayolle unveiled new financing initiatives aimed at bolstering small and medium-sized enterprises (SMEs), advancing healthcare, promoting sustainable transport, and fostering green finance within the country.

Fayolle detailed the EIB's expanding partnership with Nigeria, underscoring the bank's role in mobilizing private investment and aligning its efforts with Nigeria's long-term development priorities. He stressed that the EIB, operating under the European Union's Global Gateway strategy and the Team Europe approach, is committed to supporting Nigeria's growth trajectory.

The EIB, often referred to as the EU Bank, functions as the financing arm of the European Union and stands as one of the world's largest multilateral financial institutions. Its activities focus on accelerating the green transition, driving technological innovation, and enhancing social infrastructure, with the overarching goal of promoting inclusive and sustainable growth both within the EU and globally. In Africa, the EIB has made significant investments, with €3.1 billion allocated to new projects in 2025, and 40% of that directed towards West Africa.

Nigeria has historically been a key focus for the EIB, representing its primary country of operations in sub-Saharan Africa. Since its first engagement in 1978, the EIB has invested €2.3 billion in Nigeria, supporting impactful projects in critical sectors such as sustainable transport. Fayolle emphasized that through EIB Global, the bank's branch dedicated to development and international partnerships, the focus is on financing high-impact projects that promote sustainable and resilient growth, create employment, and improve the quality of daily life for citizens. This includes enhancing access to essential services like health, water, and energy, as well as digital inclusion and support for the local private sector, particularly MSMEs.