The Nigerian government has reaffirmed its commitment to deepening strategic ties 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 the 77th shareholder of the EBRD in February 2025, following the bank’s gradual expansion into sub-Saharan Africa, approved by its Board of Governors in 2023.
Speaking during a courtesy visit by Ambassador Gautier Mignot, Head of the EU Delegation to Nigeria and ECOWAS, Vice President Kashim Shettima commended the EU’s longstanding support, describing the bloc as a “natural partner and ally.”
“You are our natural partners and allies. Beyond the geography that binds us, we have a cultural affinity that goes back centuries,” the Vice President said at the Presidential Villa on Tuesday.
He welcomed the EBRD’s entry into Nigeria, noting that the Lagos office would signal to the global community that Nigeria is “open for business.”
“More than ever before, Nigeria is ready for business,” he said, adding that the move is both symbolic and strategic for the country and its international partners.
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Shettima highlighted the Tinubu administration’s reforms aimed at enhancing investor confidence, citing the removal of fuel subsidies and the unification of the exchange rate.
“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 toward investment in this country are gradually being eliminated,” he stated.
Referencing his tenure as governor of Borno State, Shettima praised the EU’s humanitarian and stabilisation efforts in conflict-affected areas, saying, “We will always stand by those who stood by us in our hours of need.”
He also welcomed progress on the EU-Nigeria Readmission Agreement and called for the revival of youth-oriented 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,” he said.
In his remarks, Ambassador Mignot described Nigeria as a key strategic partner in an increasingly uncertain global climate.
“Given the turmoil and very difficult political climate globally, it is important to have a reliable relationship with Nigeria,” he said.
He noted that all EU ambassadors in Nigeria had recently met to reaffirm their collective commitment to the partnership.
“The EU believes in free and fair trade, international partnerships as relations among equals, mutual benefits, and respecting sovereignty. West Africa and Nigeria are priorities for us because we are neighbours and our destinies are closely linked,” he added.
Ambassador Mignot reiterated the EU’s commitment to the UN Charter, Sustainable Development Goals, and gender equality, stressing that the bloc will remain a reliable partner in Nigeria’s development journey.
