The European Bank for Reconstruction and Development (EBRD) is targeting at least $1.5 billion in investments in Nigeria over the next three years, citing improving macroeconomic reforms, rising investor confidence, and a growing pipeline of private sector projects in Africa’s largest economy.
Speaking on Friday at the opening of the EBRD’s Lagos office, Heike Harmgart, managing director for Sub-Saharan Africa, said the bank has already committed about $280 million in Nigeria since the country became an EBRD shareholder and country of operation in October 2025, with $180 million invested since the beginning of this year.
“We’re probably looking at around $300 million this year, but we don’t have a particular ceiling or target. If we have lots of good projects, we will do lots of investments,” Harmgart said.
She said the bank’s medium-term expectation is to invest at least $1.5 billion over the next three years, although she expressed optimism that the final amount could exceed that estimate as more bankable projects emerge.
“I hope we do more because we’ve already invested $280 million while we’re still building our team and presence in Nigeria,” she said.
