Nigeria and Sweden Partner on Project Financing Initiatives

The Federal Government of Nigeria and Sweden have reached an agreement to develop a practical mechanism for identifying, preparing, and presenting priority Nigerian projects to Swedish financing and guarantee institutions. This agreement was established during a meeting in Abuja between the Federal Ministry of Budget and Economic Planning and a Swedish delegation led by Ambassador Anna Westerholm.

Senator Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, emphasized the importance of project preparation in bridging development priorities with available financing. He highlighted digital infrastructure and telecommunications as key cooperation areas, leveraging Nigeria's youthful population for digital talent.

Dr Doris Uzoka-Anite, Minister of State for Budget and Economic Planning, noted the government's efforts to identify investment opportunities at the subnational level. Ambassador Westerholm mentioned the opening of the Swedish Trade Office in Lagos in April 2025 and reiterated Sweden's commitment to supporting Nigeria through its “Team Sweden” approach.

The Swedish Export Credit Agency and the Swedish Export Credit Corporation expressed readiness to provide guarantees and long-term financing for projects in Nigeria.