DBN secures €200m EIB funding to unlock green, digital investments across Nigeria

The Development Bank of Nigeria (DBN) has secured a €200 million financing facility from the European Investment Bank’s (EIB) development arm, EIB Global, in a move aimed at expanding access to funding for small businesses and accelerating investments in Nigeria’s green and digital economy.

The agreement, signed on Thursday in Abuja, will channel long-term financing to local financial institutions for onward lending to micro, small and medium-sized enterprises (MSMEs) and mid-sized companies operating in sectors including agriculture, renewable energy, digitalisation and innovation.

The facility comes as Nigeria seeks to stimulate private-sector growth, strengthen food security, expand clean energy access and deepen digital transformation amid mounting economic pressures and financing constraints facing smaller businesses.

The investment programme is expected to support small-scale investments across the country, helping businesses gain access to finance while creating jobs and strengthening economic resilience. It also aligns with EIB Global’s strategy under the European Union’s Global Gateway initiative to promote sustainable, inclusive and resilient growth in partner countries.

Speaking at the signing ceremony, Ambroise Fayolle, EIB Vice-President said the financing demonstrates the institution’s commitment to supporting Nigeria’s private sector while advancing climate and digital development goals.

“I am very pleased to announce this important support to the private sector in Nigeria. In supporting digitally enabled businesses, we improve productivity and transparency, while strengthening the resilience and competitiveness of Nigeria’s private sector,” Fayolle said.

He added that the facility would help foster broader economic inclusion while supporting climate-focused investments.
“In boosting green projects and supporting entrepreneurs, including women, we are fostering inclusive economic growth and reinforcing our strategic partnership with Nigeria on climate action. This operation is a powerful example of how EIB can deliver real impact on the ground.”

The financing is expected to increase lending to businesses engaged in renewable energy projects, agribusiness value chains and technology-driven enterprises.

In agriculture, the funding is designed to improve productivity, strengthen local supply chains and support food security initiatives. In the renewable energy sector, it is expected to improve access to finance for businesses providing clean energy solutions, helping reduce carbon emissions and enhance climate resilience in underserved communities.

For DBN, the funding provides additional firepower to expand credit access through participating financial institutions, helping thousands of Nigerian businesses invest, grow and contribute to the country’s transition toward a greener and more digitally enabled economy.

Tony Okpanachi, DBN Managing Director and Chief Executive Officer, described the agreement as a major step forward in the bank’s efforts to support sustainable economic growth and expand financing opportunities for Nigerian businesses.

“The €200 million investment from EIB Global is a significant milestone in our mission to drive Nigeria’s economic growth and sustainability. By supporting local financial institutions and MSMEs in key sectors like agriculture, renewable energy, digitalisation, and innovation, we’re empowering entrepreneurs and fostering a culture of sustainable innovation,” Okpanachi said.

Represented at the signing event by Ijeoma Ozulumba, DBN Executive Director, Okpanachi said the partnership would reinforce DBN’s mandate of addressing financing gaps that continue to limit the growth potential of small businesses across the country.

“This partnership underscores DBN’s commitment to accelerating Nigeria’s transition to a sustainable, innovation-driven and digitally enabled economy, creating jobs, and improving livelihoods. It aligns with DBN’s vision to support green growth and digital transformation.”

EIB Global, the international development and partnership arm of the European Investment Bank Group, has been active in Nigeria for decades and remains one of the country’s key long-term development financiers.

The institution has invested nearly €500 million in Nigeria’s private sector to date and has committed approximately €2.3 billion in the country since beginning operations in 1978.

Its investments have supported projects spanning sustainable urban transport, climate adaptation, innovation and digitalisation, agribusiness logistics and financing for small and medium-sized enterprises.

The latest facility underscores growing cooperation between European development finance institutions and Nigeria as both sides seek to mobilise capital for climate-friendly and technology-driven growth.