Nigeria has reaffirmed its 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. The announcement comes as Nigeria officially became the EBRD’s 77th shareholder in February 2025, following the bank’s 2023 decision to expand incrementally into sub-Saharan Africa.

During a Tuesday meeting at the State House in Abuja with Gautier Mignot, Head of the EU Delegation to Nigeria and ECOWAS, Vice President Kashim Shettima lauded the EU’s longstanding support, emphasizing opportunities for collaboration in trade, investment, and youth empowerment. “You are our natural partners and allies. Beyond geography, we share a cultural affinity that spans centuries,” Shettima said.

Shettima highlighted Nigeria’s economic reforms under President Bola Tinubu, noting the removal of a fuel subsidy and an opaque exchange rate regime as bold steps to eliminate investment barriers. He described the EBRD’s Lagos office as a “symbolic and strategic” move to strengthen ties and signal openness to global investors.

In his remarks, Ambassador Mignot underscored Nigeria’s importance as a key EU partner amid global political challenges. “West Africa and Nigeria are priorities for us because we are neighbors, and our destinies are closely linked,” he said. Mignot reaffirmed the EU’s commitment to free trade, mutual respect, and support for global initiatives like the UN Charter and Sustainable Development Goals.

The EU’s focus on Nigeria includes partnerships, cooperation, and humanitarian aid, with the Lagos EBRD office expected to enhance economic ties and regional influence.