DBN Secures €200m EIB Funding to Power Nigeria’s Green and Digital Economy Push

Nigeria’s push toward a greener and more digitally driven economy has received a major boost as the Development Bank of Nigeria (DBN) and the European Investment Bank’s development arm, EIB Global, signed a €200 million financing agreement aimed at supporting small and medium-sized businesses across key growth sectors.

The agreement, formalised at a signing ceremony held at DBN’s Lagos office, brought together senior officials including EIB Vice President Ambroise Fayolle and top executives of the Nigerian development finance institution. The facility is designed to expand access to credit for micro, small and medium-sized enterprises (MSMEs) as well as mid-sized companies.

A significant portion of the funding will target sectors critical to Nigeria’s future, including agriculture, renewable energy, digitalisation, and innovation. The initiative is expected to help local financial institutions extend more credit to businesses that are driving job creation, entrepreneurship, and private-sector development.

Beyond financing, the programme is also structured to accelerate Nigeria’s green transition. It will support renewable energy adoption, improve agricultural productivity, strengthen supply chains, and enhance food security, while also promoting cleaner energy solutions in underserved communities to reduce carbon emissions.

Speaking at the event, both EIB and DBN leadership described the partnership as a strategic milestone for inclusive and sustainable growth. EIB Vice President Ambroise Fayolle highlighted its potential to improve productivity and support women-led and digitally enabled businesses, while DBN CEO Dr Tony Okpanachi emphasized its alignment with Nigeria’s long-term goals of innovation, job creation, and a resilient, green economy.

source: Leadership