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

A delegation from the EBRD, led by Heike Harmgart, presented Nigeria’s membership certificate to the minister in his office in Abuja, Thursday.

The presentation witnessed discussions on future collaboration, a statement issued by the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga said.

The EBRD delegation reportedly conducted an investment assessment to explore potential areas of support, and as part of its commitment to Nigeria, it introduced Hamza Al-Assad as the first Country Director to be based in Lagos. 

While welcoming the delegation, the  minister alluded to the macroeconomic reforms under the President Bola Tinubu-led 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 7 per cent annually.

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

Its main focus is financing projects in energy, financial institutions, Small and Medium Enterprises (SMEs) and infrastructure.