Nigeria, EU forge stronger partnership for trade and stability as EBRD prepares to establish its first West African office in Lagos

The Nigerian government has reaffirmed its strong commitment to a strategic partnership with the European Union, as the European Bank for Reconstruction and Development (EBRD) prepares to establish its first West African office in Lagos.

Nigeria officially became the 77th shareholder of the EBRD in February 2025, following the bank’s decision in 2023 to pursue a phased expansion into sub-Saharan Africa, as approved by its Board of Governors.

During a courtesy visit to the Presidential Villa by Ambassador Gautier Mignot, Head of the European Union Delegation to Nigeria and ECOWAS, Vice-President Kashim Shettima commended the EU’s longstanding support.

He stressed the increasing opportunities for collaboration in trade, investment, and youth empowerment.

Vice-President Shettima said Nigeria was entering a new era of economic openness under President Bola Tinubu, who, he said, made decisive efforts from the outset to tackle key structural challenges.

“More than ever before, Nigeria is ready for business,” the Vice-President said, noting that the country’s partnership with the EU extends beyond economic cooperation.

He also acknowledged the EU’s substantial humanitarian and stabilisation contributions in conflict-affected areas, such as Borno State, where he previously served as governor.

Stanley Nkwocha, the Senior Special Assistant to the President on Media & Communications (Office of the Vice-President), said in a statement that Ambassador Mignot had said, in light of current global instability, that building a dependable relationship with Nigeria was vital, stressing that the EU regarded Nigeria as a crucial partner in the 21st-century.

The Ambassador reiterated the EU’s commitment to the UN Charter, the Sustainable Development Goals, and international efforts on gender equality.

“The EU champions free and fair trade, global partnerships based on equality and mutual benefit, and respect for sovereignty. West Africa and Nigeria are key priorities for us because we are neighbours with interconnected futures,” he stated.

Editing by Muzha Kucha and Tony Okerafor