The European Bank for Reconstruction and Development (EBRD) has set a target of investing at least $1.5 billion in Nigeria over the next three years as it expands its operations in Sub-Saharan Africa.
The projection was disclosed by the EBRD’s Managing Director for Sub-Saharan Africa, Ms Heike Harmgart, and the bank’s Country Director and Head of Nigerian operations, Hamza Al-Assad, during the official opening of the bank’s first office in Sub-Saharan Africa in Lagos on Friday.
The investment target follows the bank’s entry into Nigeria in October 2025, which highlights the financial institution’s confidence in the country’s private sector and investment potential. Harmgart said the bank had adopted a demand-driven investment approach and would continue to finance viable projects rather than work with predetermined allocations in Nigeria.
She noted that the bank had already committed about $280 million in Nigeria within its first year of operation, including $180 million invested in the first half of the year.
“I’m personally very proud of Hamza and the team that we are already at $280 million, although we’ve only been here for less than a year, and already in the first half of this year have invested $180 million.
“I think this year is looking good. We’re probably looking at around $300 million this year, but we don’t have a particular ceiling or target as such.
“We want to pursue as many opportunities as possible. Over the next three years, our expectation is that we would do a minimum total of $1.5 billion, but again, that’s an estimate,” Ms Harmgart said.
