European development finance institutions have expanded their investment commitments to Nigeria with the launch of a new €20 million Nigeria Country Window, while announcing plans for additional financing to support key sectors of the economy.
The announcement was made on Tuesday in Abuja during the 10th Nigeria-European Union Business Forum, according to a statement issued by the European Union Delegation to Nigeria and ECOWAS.
The financiers said the latest investments demonstrate growing confidence in Nigeria’s economic reforms and long-term growth potential.
The European Investment Bank disclosed that it committed more than €500 million to Nigeria over the past year through public and private sector projects, with more investments expected before the end of 2026.
A Senior Investment Officer in the bank’s Corporate Division, Loic Le Ruyet, said the institution’s investments cover sustainable transport, healthcare manufacturing, agriculture, renewable energy, digital infrastructure and financing for small and medium-sized enterprises.
He noted that recent projects include support for Lagos waterways transportation, funding for the Development Bank of Nigeria to boost lending to priority sectors, healthcare manufacturing through the Bank of Industry, and investments in cocoa and dairy value chains.
The forum also featured the launch of the €20 million Nigeria Country Window, a financing initiative jointly managed by Dutch development bank FMO and the European Development Finance Institutions Management Company under the European Union’s AgriFI and ElectriFI blended finance programmes.
The facility is expected to provide funding for small and medium-sized enterprises involved in agribusiness and rural electrification while attracting additional private investment into Nigeria.
Speaking at the event, FMO representative Edilberto Jose Baquero said the initiative combines two sectors critical to Nigeria’s development.
According to him, agriculture remains a major contributor to Nigeria’s economy, while inadequate access to electricity continues to hinder growth, particularly in rural communities.
Also speaking, William Barrault of the EDFI Management Company said the programme is designed to attract additional co-investment from other European development finance institutions, thereby strengthening Nigeria’s investment ecosystem.
Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, described the new financing commitments as a strong endorsement of the Federal Government’s economic reform agenda.
She said the initiatives align with the Renewed Hope National Development Plan 2026–2030 and would support digital transformation, healthcare, infrastructure development and improved access to finance for businesses.
Uzoka-Anite added that the investments reflect increasing confidence in the government’s reforms and the capacity of Nigerian businesses to attract international capital.
The latest commitments further reinforce the growing shift in Nigeria-European Union relations from traditional development assistance to investment-driven partnerships aimed at accelerating economic growth through private sector financing.
In recent years, European development finance institutions, including the European Investment Bank, FMO and EDFI Management Company, have expanded investments across renewable energy, infrastructure, healthcare, agriculture, financial inclusion and digital innovation.
The latest funding commitments come as the Federal Government continues implementing major economic reforms, including foreign exchange liberalisation, fuel subsidy removal and tax reforms, to improve the investment climate and attract long-term private capital into Nigeria.
