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Nigeria Affirms Commitment to EU Partnership as EBRD Opens Lagos Office

Published

2 weeks ago

Apr 30, 2025.

Nigeria officially became the EBRD 77th shareholder in February 2025
Shettima welcomed EBRD expansion into Nigeria
Shettima also addressed migration cooperation, expressing satisfaction with ongoing engagements under the EU-Nigeria Readmission Agreement.

The Nigerian government has emphasized its dedication to a strategic partnership with the European Union (EU) as the European Bank for Reconstruction and Development (EBRD) prepares to open its first West African office in Lagos.

Eko Hot Blog reports that this development comes after Nigeria officially became the EBRD’s 77th shareholder in February 2025, following the bank’s phased expansion into sub-Saharan Africa, approved by its Board of Governors in 2023.

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During a courtesy visit by Ambassador Gautier Mignot, Head of the EU Delegation to Nigeria and ECOWAS, Vice President Kashim Shettima commended the EU’s long-standing support and highlighted the growing opportunities for collaboration in trade, investment, and youth empowerment.

“You are our natural partners and allies. Beyond the geography that binds us, we have a cultural affinity that goes back centuries,” Shettima stated.

He noted that Nigeria was entering a new era of economic openness under President Bola Tinubu, who has taken bold steps to address long-standing structural challenges.

“Some of the dysfunctions in the Nigerian economy – the opaque exchange rate regime and fuel subsidy – were dismantled by President Tinubu from day one. All the barriers to investment in this country are gradually being eliminated,” the Vice President added.

Nigeria Affirms Commitment to EU Partnership as EBRD Opens Lagos Office

Welcoming the EBRD’s expansion into Nigeria, Shettima described the opening of its Lagos office as a symbolic and strategic milestone.

“It will send a message across borders – more than ever before, Nigeria is ready for business,” he said, stressing that the EU-Nigeria partnership extended beyond economics.

He referenced the EU’s significant humanitarian and stabilisation efforts in conflict-affected regions such as Borno State, where he previously served as governor.

“I know the prominent role that the EU played in stabilisation and humanitarian support in Borno State. You deserve commendation, not condemnation. We will always stand by those who stood by us in our hour of need,” he said.

Shettima also addressed migration cooperation, expressing satisfaction with ongoing engagements under the EU-Nigeria Readmission Agreement.

He called for the revitalisation of youth-focused programmes like the Nigeria Jubilee Fellows Programme (NJFP).

“There is a need for us to recalibrate the programme for the benefit of our young men and women,” he stated.

In his remarks, Ambassador Mignot emphasised the importance of building reliable partnerships in the current global political climate, noting that the EU views Nigeria as a key strategic ally in the 21st century.

“All EU ambassadors in Nigeria have met to reaffirm our commitment to this partnership,” he said.

He reiterated the EU’s support for the UN Charter, the Sustainable Development Goals (SDGs), and global gender equality initiatives, stressing that the EU promotes free and fair trade, mutual respect, and sovereignty.