Nigeria Strengthens Ties with EU, Joins European Bank for Reconstruction and Development
By Naija Enquirer Staff
Nigeria has officially become the 77th shareholder of the European Bank for Reconstruction and Development (EBRD), in a move aimed at deepening economic cooperation and strengthening its strategic partnership with the European Union (EU).
The announcement was made by Minister of Foreign Affairs, Yusuf Tuggar, during a meeting with a visiting delegation from the European Parliament’s Foreign Affairs Committee in Abuja. Tuggar described the EU as Nigeria’s largest trading partner, with trade volume currently standing at €31.8 billion, underscoring the significance of the partnership to Nigeria’s growth and regional stability.
EU–Nigeria Cooperation Anchored on Growth and Security
Tuggar explained that President Bola Ahmed Tinubu’s administration places priority on food security, job creation, and regional market integration. He noted that with Nigeria’s population projected to exceed 400 million by 2050, strengthening economic partnerships such as that with the EU is essential for sustainable development.
He further stated that Nigeria views the EU as a model for regional integration and expressed the country’s readiness to deepen collaboration across critical sectors, including trade, energy, and governance.
EU Parliament Reaffirms Strategic Partnership
Leading the European Parliament delegation, David McAllister, a member of the Foreign Affairs Committee, emphasized that the visit aimed to gain deeper insights into developments across Africa, particularly within West Africa. He described Nigeria as a “strategic partner” and a “major political and economic power in the region.”
McAllister commended Nigeria’s leadership role within the Economic Community of West African States (ECOWAS) and expressed optimism that the enhanced partnership would foster greater regional stability and economic integration.
“We value Nigeria’s partnership, built on shared values, mutual respect, and regional cooperation,” McAllister said. “Our engagement with Nigeria is critical as we work toward the upcoming EU–Africa Summit in Angola this November.”
Focus on Regional Stability and Integration
The EU delegation also discussed regional developments in ECOWAS and the Sahel region, particularly the political situations in Niger, Mali, and Burkina Faso. Both parties expressed commitment to promoting democracy, stability, and sustainable growth across Africa.
McAllister reaffirmed the European Parliament’s commitment to deepening cooperation with Nigeria, describing the visit as “a reflection of Europe’s recognition of Nigeria’s central role in shaping Africa’s future.”
The meeting, held in Abuja, marks another milestone in Nigeria’s expanding international relations portfolio as the country continues to strengthen partnerships that support its economic diversification and long-term development goals.
