European Reconstruction Bank sites first West African office In Lagos

The Nigerian authorities has reiterated its steadfast committedness to a strategical concern with the European Union, arsenic the European Bank for Reconstruction and Development, EBRD, prepares to unfastened its archetypal West African bureau successful Lagos.

Nigeria officially became EBRD’s 77th shareholder successful February 2025, pursuing the bank’s constricted and incremental enlargement into sub-Saharan Africa, approved by its Board of Governors successful 2023.

Speaking connected Tuesday during a courtesy sojourn by Ambassador Gautier Mignot, Head of the European Union Delegation to Nigeria and ECOWAS, astatine the Presidential Villa, Vice President Kashim Shettima praised the EU’s longstanding support, highlighting the increasing opportunities for practice successful trade, investment, and younker empowerment.

“You are our earthy partners and allies. Beyond the geography that binds us, we person a taste affinity that goes backmost centuries,” Vice President Shettima said.

He noted that Nigeria is entering a caller signifier of economical openness nether the enactment of President Bola Ahmed Tinubu, who, helium said, took bold steps from the outset to dismantle cardinal structural barriers.

He stated, “Some of the dysfunctions successful the Nigerian system – the opaque speech complaint authorities and the substance subsidy – President Tinubu had the courageousness to region them. All the encumbrances to concern successful this state are gradually being eliminated.”

Welcoming EBRD’s enlargement into Nigeria, Vice President Shettima said the opening of its Lagos bureau is simply a symbolic and strategical improvement for some parties, arsenic “it volition nonstop a connection crossed the borders.”

Shettima, who added that “more than ever before, Nigeria is acceptable for business,” emphasised that Nigeria’s concern with the EU extends beyond economics, arsenic helium made notation to the EU’s important humanitarian and stabilisation efforts successful conflict-affected regions specified arsenic Borno State, wherever helium antecedently served arsenic governor.

“I cognize the salient relation that the EU played successful stableness and humanitarian enactment successful Borno State. You merit commendation, not condemnation. We volition ever basal by those who stood by america successful our hours of need,” Vice President Shettima said.

He besides spoke connected migration cooperation, expressing restitution with ongoing engagements nether the EU-Nigeria Readmission Agreement, and called for the revitalisation of youth-focused initiatives specified arsenic the Nigeria Jubilee Fellows Programme.

“There is simply a request for america to recalibrate the programme for the bully of our young men and women,” Vice President Shettima said.

Earlier successful his remarks, the EU Ambassador to Nigeria, Mr Mignot, said that fixed the turmoil and precise hard governmental clime globally, it is important to person a reliable narration with Nigeria, noting that the European Union regards Nigeria arsenic a cardinal spouse successful the 21st century.

Mr Mignot explained that each the EU ambassadors successful Nigeria had met to reaffirm their concern with the country.

He stated that the EU is simply a beardown protagonist of the UN Charter, the Sustainable Development Goals, and planetary sex equality initiatives of the planetary community.