EU financiers expand Nigeria investment portfolio, unveil fresh €20m facility

European development finance institutions have expanded their investment footprint in Nigeria, unveiling a fresh €20 million Nigeria Country Window and announcing that additional financing is in the pipeline to support infrastructure, agriculture, healthcare, renewable energy and small businesses.

The announcement was contained in a statement issued by the European Union Delegation to Nigeria and ECOWAS on Tuesday, in Abuja, following the 10th Nigeria-European Union Business Forum.

European financiers said the new investments reflect growing confidence in Nigeria’s ongoing economic reforms and long-term growth prospects.

The European Investment Bank disclosed that it signed more than €500 million in financing for Nigeria over the past year across both public and private sector operations, with additional investments expected before the end of the year.

Senior Investment Officer, Corporate Division, European Investment Bank, Loic Le Ruyet, said the bank’s portfolio spans sustainable transport, healthcare manufacturing, agriculture, renewable energy, digital infrastructure and support for small and medium-sized enterprises.

“We signed more than €500 million in financing in Nigeria last year across the public sector and the financial sector. There is more coming this year”, Le Ruyet said.

He said the investments include financing for Lagos waterways transport, the Development Bank of Nigeria to expand lending to priority sectors, healthcare manufacturing through the Bank of Industry, and agricultural value chains in cocoa and dairy.

The forum also witnessed the launch of a €20 million Nigeria Country Window, jointly implemented by FMO, the Dutch entrepreneurial development bank, and the European Development Finance Institutions Management Company under the European Union’s AgriFI and ElectriFI blended finance programmes.

The facility is designed to channel financing to small and medium-sized enterprises operating in agribusiness and rural electrification while mobilising additional private capital into Nigeria.

Speaking on the initiative, Edilberto Jose Baquero of FMO said the financing model was deliberately designed to address two of Nigeria’s critical development priorities.

“It is important to recognise that agriculture is a key driver of Nigeria’s economy, while access to energy remains a major challenge, particularly in rural communities. Bringing together these two facilities creates an opportunity to support more integrated and sustainable investment that aligns with Nigeria’s needs and priorities”, he said.

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Also speaking, William Barrault of EDFI Management Company said the programme would go beyond direct financing by attracting co-investment from other European development finance institutions.

“We want to be catalytic. This is the entire ecosystem we are trying to develop”, Barrault said.

Speaking during the financing session, the Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, described the financing commitments as a vote of confidence in Nigeria’s reform programme.

She said the initiatives align with the Renewed Hope National Development Plan 2026–2030, adding that they would accelerate digital transformation, strengthen healthcare value chains, improve infrastructure and expand access to finance for businesses.

“The facilities being announced today take on strategic significance. “They are not isolated initiatives. They are integral to the Renewed Hope National Development Plan 2026–2030”, she said.

Uzoka-Anite added that the investments reflected increasing confidence in the Federal Government’s economic agenda.

“They speak to the confidence that the European Union has in this government’s reforms, the credibility of our economic agenda and the capabilities of Nigerian businesses,” she said.

The latest financing announcements underscore a broader shift in the Nigeria-European Union partnership from traditional development assistance towards investment-led economic growth, with European development finance institutions increasingly leveraging blended finance and private sector investment to support Nigeria’s development priorities.

The Nigeria-European Union Business Forum is the flagship platform for promoting trade and investment between Nigeria and the European Union, bringing together government officials, development finance institutions and private sector investors to explore investment opportunities.

In recent years, European development finance institutions, including the European Investment Bank, FMO and EDFI Management Company, have significantly increased investments in Nigeria across renewable energy, financial inclusion, infrastructure, agriculture, healthcare and digital innovation.

The latest commitments come as the Federal Government implements wide-ranging economic reforms, including foreign exchange liberalisation, fuel subsidy removal and tax reforms, aimed at restoring macroeconomic stability, improving the investment climate and attracting long-term private capital into Africa’s largest economy.