Geopolitical Briefing: Nigeria
19 May 2025
- Nigeria approves $652 million China Exim Bank loan for strategic road infrastructure linking Lekki Deep Sea Port to southern states.
- Russian Defence Minister affirms Nigeria as a “promising partner” during high-level security talks in Moscow.
- Islamic finance sector in Nigeria experiences significant growth, reaching NGN2.5 trillion in assets.
- ECOWAS intensifies efforts to implement free movement protocols across West Africa.
- Israeli delegation engages with Nigerian defence officials to discuss urban warfare cooperation.
Nigeria’s Federal Executive Council has approved a $652 million loan from China Exim Bank to fund the construction of a vital road corridor connecting the Lekki Deep Sea Port, Dangote Petroleum Refinery, and adjacent fertilizer plant to multiple southern states. This infrastructure project is poised to enhance trade logistics and economic integration within the region. The collaboration underscores Nigeria’s strategic pivot towards diversified international partnerships that prioritize infrastructure development without stringent political conditions. (Reuters)
On May 10, Russian Defence Minister Andrei Belousov identified Nigeria as a “promising partner” in Africa during discussions with Nigerian Defence Chief Christopher Gwabin Musa. The meeting, which included participation in Moscow’s Victory Day commemorations, signals a strengthening of military and security ties between the two nations. This development reflects Nigeria’s pursuit of diversified security partnerships to bolster its regional influence and autonomy in defence matters.
Nigeria’s Islamic finance industry has witnessed substantial growth, with total assets increasing from NGN1.5 trillion in 2022 to NGN2.5 trillion in 2023. Islamic banking leads the sector, followed by sukuk and other Shariah-compliant financial instruments. This expansion indicates a rising preference for financial systems aligned with Islamic principles, contributing to broader financial inclusion and economic diversification.
The Economic Community of West African States (ECOWAS) has intensified its efforts to implement the free movement protocol across the region. This initiative aims to facilitate the mobility of citizens, goods, and services, thereby enhancing regional integration and economic development. Nigeria’s active participation in ECOWAS initiatives reinforces its leadership role in West Africa and commitment to regional stability.
On May 10, Nigeria’s Ministry of Defence hosted Israeli Ambassador Michael Freeman and representatives from Israel Aerospace Industries to discuss enhancing bilateral cooperation in urban warfare and related strategic areas. This engagement indicates Nigeria’s interest in acquiring advanced military technologies and expertise. However, such collaborations necessitate careful consideration of their implications on Nigeria’s foreign policy and regional dynamics.
