European development finance institutions have expanded their investment portfolio in Nigeria with the launch of a new €20 million Nigeria Country Window, while announcing plans for additional funding to support infrastructure, agriculture, healthcare, renewable energy and small businesses.
The announcement was made in a statement issued on Tuesday by the European Union Delegation to Nigeria and ECOWAS following the 10th Nigeria–European Union Business Forum in Abuja.
According to the European financiers, the new investments underscore growing confidence in Nigeria’s economic reforms and long-term growth prospects.
The European Investment Bank (EIB) disclosed that it committed more than €500 million in financing to Nigeria over the past year, covering both public and private sector projects, with additional investments expected before the end of the year.
Senior Investment Officer in the EIB’s Corporate Division, Loic Le Ruyet, said the bank’s investment portfolio spans sustainable transportation, healthcare manufacturing, agriculture, renewable energy, digital infrastructure and financing for small and medium-sized enterprises (SMEs).
“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 explained that the funding includes support for the Lagos waterways transport system, financing through the Development Bank of Nigeria to boost lending to priority sectors, healthcare manufacturing projects 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 joint initiative of 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 new facility is designed to provide financing for small and medium-sized enterprises operating in agribusiness and rural electrification, while attracting additional private sector investment into Nigeria.
Speaking on the initiative, Edilberto Jose Baquero of FMO said the programme was created to address two of Nigeria’s key development priorities—agriculture and energy access.
“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.
