The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has officially received Nigeria’s membership certificate as the 77th European Bank for Reconstruction and Development (EBRD) member.

A delegation from EBRD, led by Heike Harmgart, presented Nigeria’s membership certificate to the minister in his office in Abuja, according to statement issued by Director of Information in the ministry, Mohammed Manga.

The presentation witnessed discussions on future collaboration. The delegation conducted an investment assessment to explore potential areas of support. It also introduced Hamza Al-Assad as the first Country Director, based in Lagos as part of its commitment to Nigeria.

While welcoming the membership, the Edun emphasised macroeconomic reforms under President Bola Ahmed Tinubu’s administration, including fuel subsidy removal, fiscal deficit reduction, exchange rate stability, and tax reforms to attract investment.

He highlighted Nigeria’s potential as a regional production hub, with growth targets set to reach seven per cent annually. With the presentation, Nigeria has officially joined the EBRD, marking a significant milestone in the country’s efforts to strengthen its economy and attract foreign investment.

The EBRD, an international financial institution established in 1991, supports economic development, private sector growth, and infrastructure investments in emerging markets. Financing projects in energy, financial institutions, SMEs, and infrastructure.