LAGOS, July 7 – The European Bank for Reconstruction and Development (EBRD) plans to invest at least $1.5 billion in Nigeria over the next three years as it expands its presence in Sub-Saharan Africa.
The target was announced during the opening of the bank’s first Sub-Saharan Africa office in Lagos by the EBRD’s Managing Director for Sub-Saharan Africa, Heike Harmgart, and the bank’s Country Director and Head of Nigerian Operations, Hamza Al-Assad.
The investment plan follows the bank’s entry into Nigeria in October 2025, a move that reflects its confidence in the country’s private sector and long-term investment opportunities.
According to Harmgart, the EBRD will continue to follow a demand-driven approach, financing viable projects as they emerge rather than working with fixed investment allocations. The bank has already committed about $280 million to projects in Nigeria in less than a year, including $180 million invested in the first half of this year.
Harmgart said the EBRD expects to invest around $300 million by the end of the year, although she noted that the bank does not operate with a fixed investment ceiling.
“We want to pursue as many opportunities as possible,” she said, adding that the projected $1.5 billion investment over the next three years is a minimum estimate rather than a spending cap.
The EBRD said its continued investment in Nigeria is aimed at supporting private sector growth as the bank strengthens its operations across Sub-Saharan Africa.
