Nigeria is set to accelerate its green and digital transformation efforts following a new €200 million financing partnership between the European Investment Bank (EIB) and the Development Bank of Nigeria (DBN). The investment aims to expand access to finance for small and medium-sized enterprises while supporting sustainable economic growth.
The funding initiative will help Nigerian businesses operating in key sectors including agriculture, renewable energy, digital technology, and innovation. By improving access to capital, the programme is expected to strengthen entrepreneurship, create jobs, and support companies contributing to Nigeria’s future-focused economy.
The partnership is designed to address financing challenges faced by micro, small, and medium-sized enterprises (MSMEs) and mid-sized businesses. These companies play a major role in employment and economic development but often face difficulties accessing long-term investment needed for expansion and innovation.
A major focus of the programme is supporting Nigeria’s green transition. Financing for renewable energy companies will help increase clean energy access, reduce emissions, and improve climate resilience, especially in underserved communities. In the agricultural sector, the investment will support productivity improvements, stronger supply chains, and enhanced food security.
The agreement also aims to strengthen Nigeria’s digital economy by helping businesses adopt new technologies and improve innovation capacity. Digital transformation is expected to boost competitiveness and create new opportunities for entrepreneurs across the country.
EIB representatives described the partnership as an important step toward supporting sustainable private sector growth and inclusive development. The Development Bank of Nigeria also highlighted the investment as a milestone in advancing a digitally enabled and environmentally sustainable economy.
The EIB has been active in Nigeria for decades, supporting investments in areas such as climate adaptation, transport, infrastructure, agribusiness, innovation, and SME financing. Since beginning operations in the country, the institution has committed billions of euros toward projects designed to strengthen economic development.
The latest financing agreement reflects growing international support for Nigeria’s transition toward a greener, more innovative, and more resilient economy. By combining financial support with private sector development, the initiative aims to create long-term benefits for businesses, workers, and communities across the country.
