EBRD Targets $1.5bn Nigeria Investments Over Three Years

The European Bank for Reconstruction and Development is targeting at least $1.5bn in Nigerian investments over the next three years after opening its first Sub-Saharan Africa office in Lagos.

The bank has already committed about $280m in Nigeria since entering the country in October 2025, including $180m in the first half of this year.

The Lagos office was opened on Friday. The investment plan was outlined by Heike Harmgart, the bank’s managing director for Sub-Saharan Africa, and Hamza Al-Assad, its country director and head of Nigerian operations.

The bank said its approach in Nigeria would be demand-driven, with money going into viable projects rather than a fixed allocation. Harmgart said the bank could invest about $300m this year, while the three-year expectation is a minimum total of $1.5bn.

The announcement puts Nigeria at the centre of the EBRD’s early Sub-Saharan Africa expansion, with private sector projects expected to take priority as the institution builds its local pipeline.

Source: Vanguard