In a bold move aimed at boosting regional integration and economic development, Nigeria has pledged an additional $100 million to the ECOWAS Bank for Investment and Development (EBID). This renewed commitment reaffirms Nigeria’s status as the bank’s largest financial contributor, holding nearly one-third of its total shares.
The announcement was made during a recent session of the ECOWAS Parliament held in Abuja. Speaking on behalf of the EBID President, Dr. George Agyekum Donkor, Director of Research and Strategic Planning, Mr. MacDonald Saye Goanue, emphasized that Nigeria’s contribution plays a critical role in shaping the bank’s governance and investment strategies.
“Nigeria is currently in the process of paying an extra $100 million to the bank,” Goanue stated. “As the biggest shareholder, Nigeria’s support enhances its influence in decision-making and project prioritization within EBID.”
Nigeria’s latest pledge comes as part of a broader effort by member states to strengthen the bank’s capital base. Other countries like Ghana and Côte d’Ivoire have also made significant contributions in recent months, underlining a shared commitment to the bank’s mission of financing infrastructure and socio-economic development across the ECOWAS region.
EBID has been actively funding transformational projects that impact millions of lives. Among its recent financing efforts is a €180 million line of credit to Mota-Engil Nigeria for the ongoing Kano-Maradi standard gauge railway—a transnational transport initiative expected to boost trade between Nigeria and Niger. In addition, the bank approved a $50 million loan facility to Sterling Bank in Nigeria to support small and medium-sized enterprises (SMEs) in sectors ranging from agriculture to manufacturing.
These initiatives are central to EBID’s broader mandate to drive inclusive growth, reduce poverty, and deepen economic integration among the 15 ECOWAS member states. By investing in critical sectors like infrastructure, energy, and entrepreneurship, the bank aims to unlock the region’s full economic potential.
Nigeria’s new $100 million pledge is not just a financial gesture—it’s a strong political statement about the country’s leadership role in West Africa’s development agenda. As ECOWAS continues to pursue economic resilience and sustainable development, Nigeria’s backing of EBID sets a powerful example of regional solidarity and vision.
