The European Bank for Reconstruction and Development has set its sights on investing at least $1.5 billion in Nigeria over the next three years as it deepens its presence in Sub Saharan Africa.
The target was disclosed by the bank’s Managing Director for Sub Saharan Africa, Heike Harmgart, and its Country Director and Head of Nigerian Operations, Hamza Al Assad, during the official opening of the EBRD’s first office in Sub Saharan Africa, located in Lagos on Friday.
The move comes less than a year after the bank formally entered the Nigerian market in October 2025, a step that reflects growing confidence in the country’s private sector and wider investment potential.
Harmgart said the bank would continue to adopt a demand driven approach in Nigeria, focusing on viable and bankable projects rather than operating with fixed country allocations.
She revealed that the EBRD has already committed about $280 million to Nigeria within its first year of operations, including $180 million invested in the first half of the year alone.
“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,” Harmgart said.
