# EIB Global and FCMB Commit €85 Million to Nigerian Cocoa and Dairy Businesses

> EIB Global and FCMB have agreed an €85 million financing partnership for Nigerian agribusiness, with at least 70% going to cocoa and dairy.

- Published: 2026-10-15T06:11:15+00:00
- Section: Funding
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-15/eib-global-fcmb-nigeria-cocoa-dairy-financing
- Source: [Devdiscourse](https://www.devdiscourse.com/article/business/3992672-nigerias-cocoa-and-dairy-businesses-get-85m-boost-from-eib-global-and-fcmb)

## Key takeaways

- EIB Global and First City Monument Bank agreed an €85 million financing partnership for Nigerian agricultural value chains.
- At least 70% of the financing is directed towards cocoa and dairy businesses.
- EIB Global is making its first investment covering the dairy sector outside the European Union.
- The EIB Group has invested €2.3 billion in Nigeria since beginning operations there in 1978.

[EIB](https://akta.pro/company-profiles/002qa5k/eib) Global and First City Monument Bank have agreed an €85 million financing partnership for Nigerian agricultural value chains, with at least 70% directed towards cocoa and dairy. [Devdiscourse](https://www.devdiscourse.com/article/business/3992672-nigerias-cocoa-and-dairy-businesses-get-85m-boost-from-eib-global-and-fcmb) reported the financing on October 15, 2026.

## How the EIB Global and FCMB Financing Works

The financing combines investment with technical support for private companies across Nigeria's agricultural value chains, aimed at increasing production, expanding processing and reaching new markets. EIB Global, the European Investment Bank Group's international development arm, is making its first investment covering the dairy sector outside the European Union.

Funding channelled through [First City Monument Bank](https://akta.pro/company-profiles/00004m8/first-city-monument-bank) will provide liquidity to cocoa farmers and cooperatives, strengthen industrial processing and improve product traceability. Compliance with the EU Regulation on Deforestation is part of the operation, alongside biodiversity conservation and efforts to reduce environmental harm.

"For farmers and agribusinesses, access to finance can make the difference between selling raw produce and building businesses that process more, earn more and create more jobs," said FCMB Chief Executive Officer Yemisi Edun.

EIB Vice-President Ambroise Fayolle said the partnership would help Nigerian agribusinesses become more competitive and meet international environmental and social standards. EIB Group President Nadia Calviño said the EIB Group invests in agricultural value chains in Africa, and highlighted the business opportunities the projects create for EU companies in Nigeria.

## EIB's Record in Nigeria and Recent Activity

According to [akta.pro company records](https://akta.pro/company-data), the EIB Group has invested €2.3 billion in Nigeria since beginning operations in the country in 1978. The same records show the EIB signed a €3 billion loan with Airbus in June 2026, the largest corporate financing in its history, and recorded €100 billion in new financing signed in 2025.

| EIB figure | Value |
| --- | --- |
| Invested in Nigeria since 1978 | €2.3 billion |
| Airbus loan, June 2026 | €3 billion |
| New financing signed in 2025 | €100 billion |

## Earlier EIB Global Lending This Year

On October 13, 2026, EIB Global agreed to lend $250 million to NXP Semiconductors to expand assembly, packaging and testing capacity at a facility near Kuala Lumpur, Malaysia, a project due by 2030 that is expected to create over 1,000 jobs, [EuropaWire](https://www.eib.org/fr/index.htm) reported.

On October 5, 2026, EIB Global and Banco ADOPEM signed a €4.5 million financing agreement backed by an EFSD+ guarantee to support sargassum-related projects by small businesses in the Dominican Republic, EuropaWire reported.

On September 30, 2026, the European Investment Bank, backed by InvestEU and SACE, approved €80 million in financing for the FNM Group to support hydrogen mobility, Fuelcellsworks reported.

## When the Nigeria Financing Was Announced

The financing was announced during the Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok, which Calviño, Fayolle, Síkela, Edun and Nigeria's Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, attended.

## Companies in this story

- [EIB company profile](https://akta.pro/company-profiles/002qa5k/eib) · website: https://www.eib.org/fr/index.htm
- [First City Monument Bank company profile](https://akta.pro/company-profiles/00004m8/first-city-monument-bank) · website: https://fcmb.com

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