EBRD Plans $500 Million Investment in Nigeria's Economy

Heike Harmgart, the Managing Director for Sub-Saharan Africa at the European Bank for Reconstruction and Development (EBRD), stated her amazement at the resilience of Nigerian businesses despite high power costs. EBRD is set to invest approximately $500 million in Nigeria, with a focus on trade finance and local currency financing.

The bank plans to establish offices in five new countries, including Nigeria, Kenya, Senegal, Côte d'Ivoire, and Benin, with Ghana expected to follow. EBRD aims to support intra-African trade and has already signed a $100 million trade finance line with Access Bank to facilitate Nigerian imports and exports.

The bank's investment strategy includes a projected $280 million investment in Nigeria from October to December 2025, with an expectation to exceed $300 million annually over the next three years, totaling a minimum of $1.5 billion. Harmgart emphasized the importance of local expertise and financing smaller transactions to complement existing financial institutions.