Nigeria, EIB Sign €200m Financing Deal To Boost SMEs, Green Energy

By David Bolarinwa

Nigeria has signed a €200 million financing agreement with the European Investment Bank (EIB) to strengthen small businesses, accelerate green energy adoption, and promote digital innovation through the Development Bank of Nigeria (DBN).

The five-year facility is aimed at expanding access to finance for small and medium enterprises (SMEs) and micro, small and medium enterprises (MSMEs) driving green growth and digital transformation, while also providing targeted support for women-led businesses, with at least 30 per cent of the funding reserved for female entrepreneurs.

This was revealed in an X post by the Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, who stated, “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.

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“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.