The initiative was unveiled on Monday by the Minister of Budget and Economic Planning, Atiku Bagudu, alongside the EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Gautier Mignot, on the sidelines of the National Economic Summit.

The partnership will also leverage Boost Africa, a programme involving the European Investment Bank (EIB), the African Development Bank (AfDB) and the European Commission to expand financing opportunities for African businesses.

Bagudu said the investment lab would facilitate strategic partnerships and innovative funding arrangements for integrated transport and infrastructure projects. He added that it would help Nigeria identify investment opportunities capable of advancing its economic interests.

The minister said the initiative supports President Bola Tinubu’s economic reform agenda and the country’s ambition to build a $1 trillion economy by 2030, with the private sector expected to provide 86 per cent of the required financing.

He stressed that achieving this target would require coordinated investments capable of translating ongoing reforms into increased productivity, economic growth, job creation and improved living standards.

According to Bagudu, government and its development partners must ensure that the country’s economic ambitions translate into coordinated investments and measurable development outcomes.

Mignot described the Investment Partnership Lab as a working platform for connecting investment opportunities with prospective partners, identifying project preparation requirements and establishing the next steps for advancing proposed projects.

He explained that the initiative would link key productive sectors, including agro-processing, minerals, manufacturing and the blue economy, with inland waterways, seaports and border logistics.

The EU ambassador said the partnership’s effectiveness would depend on identifying genuine investor interest, understanding the challenges holding projects back and determining how participating partners could address those obstacles.

He also highlighted opportunities to expand financing through Boost Africa and other investment programmes backed by European institutions.

Mignot said these funding mechanisms could provide venture capital for Africa’s startup ecosystem, strengthen local fund managers and support Nigerian companies seeking to expand into West Africa and other markets.

Benjamin Galadima, an official of the Federal Ministry of Budget and Economic Planning and focal officer for its European Union Unit, said Nigeria needed to explore investment opportunities across seaports, regional shipping routes, border markets, industrial centres and export channels.

Galadima noted that road and rail infrastructure alone could not adequately serve every productive corridor, making the development of more diversified and interconnected transport systems necessary.

He added that inland waterways and coastal shipping could lower unit costs for bulk freight, provided navigability, cargo volumes and terminal infrastructure were suitable.

As part of the proposed action plan, Galadima said the Federal Government and its partners intended to organise a high-level meeting of Blue Bond ecosystem stakeholders within the first 30 days.

The meeting is expected to clarify institutional mandates, identify potential issuers, establish regulatory requirements and define the responsibilities of participating organisations.

The new investment partnership builds on broader economic development and infrastructure cooperation between Nigeria and the European Union.

In March 2026, the EU announced a €288 million support package for Nigeria covering healthcare, agriculture, finance, migration, climate and digital public infrastructure.

The funding was announced during the EU-Nigeria ministerial news conference in Abuja, reflecting the bloc’s renewed commitment to its partnership with Nigeria.