By DAYO ADESULU
Nigeria Strengthens Stake in ECOWAS Bank with $100 Million Contribution
Nigeria is set to deepen its leadership and influence within the ECOWAS Bank for Investment and Development (EBID) by making a substantial $100 million capital contribution, reaffirming its position as the largest shareholder in the regional financial institution.
This announcement was made on Thursday during an interactive session with ECOWAS institutional leaders at the 2025 First Ordinary Session of the ECOWAS Parliament, held in Abuja.
MacDonald Goanue, Director of Research and Strategic Planning at EBID, who represented the Bank’s President, Dr. George Donkor, made the disclosure while outlining Nigeria’s pivotal financial role in the bank’s capital structure.
Nigeria to Hold 33% of Total Shares in ECOWAS Bank
With the incoming $100 million contribution, Nigeria will maintain a commanding 33% shareholding in the bank—further consolidating its position as the largest investor in EBID.
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“Nigeria is the biggest contributor. Nigeria is in the process of paying $100m to the bank,” Goanue said. He noted that financial contributions significantly influence leadership eligibility within the institution.
“You can become president if you pay your money. You can become vice president if you pay your money,” he emphasized, underscoring how financial commitment translates to institutional leadership and strategic leverage within EBID.
EBID’s Investments in Nigeria’s Private Sector Growing
Although EBID’s public sector presence in Nigeria remains limited, Goanue revealed that the bank has played an instrumental role in financing the private sector, collaborating with major institutions such as the Bank of Industry and various commercial banks.
These strategic partnerships have facilitated development financing for infrastructure, industrial expansion, and economic diversification within Nigeria’s private sector.
Other ECOWAS Member States Also Fulfilling Financial Commitments
Goanue also acknowledged commendable contributions from other member states. He disclosed that Ghana has completed its second tranche of payment, while Côte d’Ivoire continues to demonstrate financial consistency.
“Ghana has paid its second tranche. Côte d’Ivoire is doing very well,” he noted.
These payments, he added, reflect growing ownership and engagement among ECOWAS member countries in regional economic development.
International Support Boosts EBID’s Operational Capacity
Beyond member states, EBID has received significant support from international partners. Goanue highlighted India’s contribution of approximately $1 billion in credit lines since 2006, which has enhanced the bank’s capacity to fund development projects across West Africa.
He clarified that EBID is not a commercial bank and does not accept deposits. Instead, the institution relies entirely on capital mobilised from member countries and development partners to finance its operations.
EBID Focuses on Infrastructure, Agriculture, and Energy Across ECOWAS
Currently, EBID is funding key development projects across all 15 ECOWAS member states. Its investments span critical sectors such as:
- Infrastructure
- Energy and transport
- Agriculture
- Healthcare
These initiatives aim to accelerate regional integration, create employment, and boost economic resilience across the subregion.
Employment and Inclusion Challenges Persist
On the issue of employment, Goanue reiterated EBID’s commitment to youth empowerment and job creation across the ECOWAS region. However, he also addressed the challenges related to staffing, especially from underrepresented member states.
“People will not just give you a job because you are a national. You must qualify,” he asserted, referencing issues such as language barriers, certification gaps, and competitiveness in recruitment processes.
Nigeria’s ECOWAS Bank Contribution Reaffirms Regional Leadership
Nigeria’s upcoming $100 million contribution to EBID is not merely a financial transaction—it is a strategic reaffirmation of the country’s leadership role within West Africa. As the largest shareholder, Nigeria gains both influence and responsibility in steering the bank’s development agenda.
The move aligns with President Bola Tinubu’s broader foreign policy agenda of regional economic integration, investment in development finance, and enhanced engagement with multilateral institutions.
Conclusion
As the ECOWAS region pursues sustainable development and greater economic self-reliance, Nigeria’s renewed financial commitment to EBID is a critical step. The $100 million contribution strengthens Nigeria’s leadership, enhances EBID’s capacity to fund vital regional projects, and sets a precedent for other member states to emulate.
With international support and increasing participation from countries like Ghana and Côte d’Ivoire, EBID stands better positioned to drive infrastructure, energy, agriculture, and healthcare transformation across West Africa.
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