By Favour Ulebor, Abuja

Nigeria is set to contribute $100 million to the ECOWAS Bank for Investment and Development (EBID), reaffirming its strong commitment to regional economic integration and development.

The contribution will further consolidate Nigeria’s position as the largest shareholder in the regional financial institution, with approximately 33% of total shares.

The President of the ECOWAS Bank for Investment and Development ( EBID) , Dr. George Agyekum Donkor, represented by Director of Research and Strategic Planning of EBID, MacDonald Saye Goanue, disclosed this during an interactive session with heads of ECOWAS institutions and specialized agencies, at the ongoing 2025 First Ordinary session of the Ecowas Parliament,on Thursday in Abuja.

He also revealed that while Nigeria’s public sector projects have been few, EBID has supported several private sector initiatives within the country.

He said, “Nigeria is the biggest contributor. Nigeria is in the process of even paying $100 million to the bank,” Goanue announced, noting that such contributions translate to decision-making power within the bank.

“You can become president if you pay your money. You can become vice president if you pay your money,” he added, emphasizing the importance of timely contributions to the governance structure of EBID.

“We finance private projects in Nigeria. The Bank of Industry is our client. We have done business with commercial banks and so on. And so, we do a lot in Nigeria,” Goanue stated.

Beyond Nigeria, Goanue highlighted the active participation of other member states.

He said, “Ghana has paid its second tranche, Côte d’Ivoire is doing very well,” he said, pointing to growing regional commitment to EBID’s financial base.

According to Goanue, the bank has also benefited from international support; he disclosed that the Indian government gave about $1 billion from 2006 till now, referring to credit lines that bolster EBID’s capacity to fund infrastructure, energy, transport, and private sector development across West Africa.

He clarified that EBID is not a commercial bank and does not take deposits; Its operations rely on member-state contributions and international financing facilities.

On human capital and youth development, Goanue emphasized the bank’s inclusive employment strategy.

He said, “We are interested in providing jobs for the youth”.

Goanue also addressed the challenge of staffing from underrepresented countries, noting that linguistic and educational limitations often affect participation.

He said, “People will not just give you a job because you are a national. You must qualify,” he stressed.

The interactive session in Abuja, convened by the ECOWAS Commission, aimed to enhance coordination among institutions and improve the implementation of regional programmes in line with the ECOWAS Vision 2050.

The EBID currently supports key development projects in all 15 ECOWAS countries, focusing on energy, transport, infrastructure, agriculture, and health. As countries continue to meet their capital obligations, the bank is expected to expand its footprint and deepen regional integration across West Africa.

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