The Nigerian government has reiterated its firm commitment to a strategic partnership with the European Union, as the European Bank for Reconstruction and Development, EBRD, prepares to open its first West African office in Lagos.
Nigeria officially became EBRD’s 77th shareholder in February 2025, following the bank’s limited and incremental expansion into sub-Saharan Africa, approved by its Board of Governors in 2023.
Speaking on Tuesday during a courtesy visit by Ambassador Gautier Mignot, Head of the European Union Delegation to Nigeria and ECOWAS, at the Presidential Villa, Vice President Kashim Shettima praised the EU’s longstanding support, highlighting the growing opportunities for cooperation in trade, investment, and youth empowerment.
“You are our natural partners and allies. Beyond the geography that binds us, we have a cultural affinity that goes back centuries,”; Vice President Shettima said.
He noted that Nigeria is entering a new phase of economic openness under the leadership of President Bola Ahmed Tinubu, who, he said, took bold steps from the outset to dismantle key structural barriers.
He stated, “Some of the dysfunctions in the Nigerian economy – the opaque exchange rate regime and the fuel subsidy – President Tinubu had the courage to remove them. All the encumbrances to investment in this country are gradually being eliminated.”;
Welcoming EBRD’s expansion into Nigeria, Vice President Shettima said the opening of its Lagos office is a symbolic and strategic development for both parties, as “it will send a message across the borders.”;
Shettima, who added that “more than ever before, Nigeria is ready for business,”; emphasised that Nigeria’s partnership with the EU extends beyond economics, as he made reference to the EU’s significant humanitarian and stabilisation efforts in conflict-affected regions such as Borno State, where he previously served as governor.
“I know the prominent role that the EU played in stability and humanitarian support in Borno State. You deserve commendation, not condemnation. We will always stand by those who stood by us in our hours of need,”; Vice President Shettima said.
He also spoke on migration cooperation, expressing satisfaction with ongoing engagements under the EU-Nigeria Readmission Agreement, and called for the revitalisation of youth-focused initiatives such as the Nigeria Jubilee Fellows Programme.
“There is a need for us to recalibrate the programme for the good of our young men and women,”; Vice President Shettima said.
Earlier in his remarks, the EU Ambassador to Nigeria, Mr Mignot, said that given the turmoil and very difficult political climate globally, it is important to have a reliable relationship with Nigeria, noting that the European Union regards Nigeria as a key partner in the 21st century.
Mr Mignot explained that all the EU ambassadors in Nigeria had met to reaffirm their partnership with the country.
He stated that the EU is a strong supporter of the UN Charter, the Sustainable Development Goals, and global gender equality initiatives of the international community.
