Nigeria has signed a €200 million financing agreement with the European Investment Bank to boost SMEs, accelerate green energy adoption and drive digital innovation through the Development Bank of Nigeria.
The five-year facility will expand access to finance for SMEs and MSMEs driving green growth and digital transformation, with at least 30% of the funds reserved for women-led businesses.
The Special Assistant to President Tinubu on Social Media, Dada Olusegun, disclosed the deal in an X post, saying it will deepen financial inclusion and provide long-term capital for priority sectors.
“Nigeria has signed a €200 million financing agreement with the European Investment Bank to boost small businesses, green energy, and digital innovation through the Development Bank of Nigeria.
“The five-year facility is aimed at expanding access to finance for SMEs and MSMEs driving green growth and digital transformation, while also supporting women-led businesses, with at least 30 per cent of the funding reserved for female entrepreneurs.”
The agreement is expected to deepen financial inclusion, expand access to long-term capital, and support enterprises driving Nigeria’s transition toward a greener and more digitally enabled economy.
The Development Bank of Nigeria will implement the facility, ensuring that funds are channelled to eligible businesses across priority sectors over the five-year period.
The financing deal further underscores ongoing collaboration between Nigeria and international development partners to strengthen private sector growth and economic diversification.
