Nigeria Secures EBRD Membership as Finance Minister Leads High-Level Mission to London. By Raymond Enoch

In a historic move that underscores Nigeria’s commitment to economic reform and private sector development, the country has officially become the 77th member of the European Bank for Reconstruction and Development (EBRD).

This significant milestone was marked during the EBRD’s 2025 Annual Meetings in London, where Nigeria’s Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, received the membership certificate from Heike Harmgart, Managing Director for Sub-Saharan Africa.
EBRD

Minister Edun emphasized that Nigeria’s accession to the EBRD aligns with President Bola Tinubu’s Renewed Hope Agenda, focusing on macroeconomic reforms such as fuel subsidy removal, fiscal deficit reduction, exchange rate stability, and tax reforms. He highlighted the country’s potential as a regional production hub, targeting an annual growth rate of 7%.

The EBRD, established in 1991, has been instrumental in supporting economic development and private sector growth in emerging markets. With over 80% of its financing directed towards the private sector, the bank plays a pivotal role in sectors such as energy transition, infrastructure, agriculture, and digital innovation. Nigeria’s membership opens new avenues for local businesses to access development finance and technical expertise.

During the meetings, Minister Edun engaged in high-level bilateral discussions with delegations from France and the United States, reinforcing Nigeria’s position as an active and trusted partner in global economic governance. The EBRD’s expansion into Sub-Saharan Africa, including Nigeria, reflects the bank’s commitment to fostering inclusive growth, resilience, and sustainable development in the region.

As Nigeria embarks on this new partnership with the EBRD, the country is poised to unlock its vast economic potential, drive sustainable growth, and cement its position as a key player in the global economy.