‘Nigeria is ready for business’ — Shettima as European Bank sets up Lagos office
By Kunle Sanni
The European Bank for Reconstruction and Development (EBRD) is opening its first West African office in Lagos, signaling a deepening of Nigeria’s global economic ties.
This move comes two months after Nigeria became the bank’s 77th shareholder, marking EBRD’s expansion into sub-Saharan Africa. The announcement was made during a meeting between Vice President Kashim Shettima and the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, at the Presidential Villa, Abuja.
Shettima described the development as a strategic boost to Nigeria’s investment climate under President Bola Tinubu’s leadership.
“More than ever before, Nigeria is ready for business,” Shettima declared, citing reforms such as the removal of fuel subsidies and the overhaul of the foreign exchange system.
He praised the EU for its support in humanitarian and stabilization efforts, particularly in Borno State, and called for expanded cooperation in trade, migration, and youth development.
Ambassador Mignot reaffirmed the EU’s commitment to Nigeria, describing the country as a key ally for global peace and prosperity.
In a related meeting, Shettima hosted a delegation from South Korea’s Asia Economic Development Committee (AEDC), which seeks to invest in electric vehicle production, solar technology, and national security IT infrastructure in Nigeria.
Shettima welcomed the proposal, saying it aligns with the administration’s goals of industrialization, technological progress, and economic diversification.
