Nigeria and the African Development Bank (AfDB) have agreed to conduct a joint technical assessment of the financial institution’s venture portfolio within the nation and put together for a go to by its president, Dr Sidi Ould Tah.
The settlement adopted a gathering between the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and Ould Tah on Monday, on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand.
According to a press launch by the Federal Ministry of Finance, the assessment will establish implementation bottlenecks, pace up venture supply and align ongoing operations with the Federal Government’s growth priorities.
Oyedele reaffirmed Nigeria’s dedication to sustaining its place because the financial institution’s largest shareholder and assembly its capital subscription obligations.
He mentioned the longstanding relationship between Nigeria and the AfDB ought to translate into larger growth financing and tangible financial advantages.
Oyedele additionally expressed Nigeria’s assist for the financial institution’s Four Cardinal Points agenda below Ould Tah’s management.
The agenda focuses on bridging Africa’s financing hole, securing the continent’s monetary sovereignty, harnessing its demographic dividend and constructing resilient infrastructure via the native transformation of pure assets.
The minister mentioned the priorities align intently with Nigeria’s growth targets.
Ould Tah’s proposed go to to Nigeria is predicted to incorporate conferences with President Bola Tinubu, senior authorities officers and different stakeholders to debate the nation’s growth priorities and its strategic cooperation with the financial institution.
The assembly additionally addressed the excessive value of borrowing confronted by African international locations.
Oyedele mentioned worldwide credit score rankings didn’t at all times mirror enhancements in financial fundamentals and reform efficiency, rising borrowing prices for international locations comparable to Nigeria.
In response, Ould Tah disclosed that the AfDB was creating a facility to supply African governments with technical and analytical assist of their engagements with credit standing companies.
The facility is predicted to assist governments current credible financial information and problem assessments the place obligatory.
The two sides additionally mentioned African monetary integration, native forex transactions, commerce insurance coverage and credit score enhancement measures to scale back funding dangers and entice personal capital.
They additional confused the necessity to retain expert professionals on the continent.
The Federal Ministry of Finance mentioned technical work on financing and portfolio efficiency would proceed alongside preparations for the AfDB president’s go to.
Faridah Abdulkadiri
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