Nigeria Reaffirms Leadership Role in AfDB with $500 Million Commitment
Nigeria has reinforced its position as a cornerstone of development financing in Africa with a fresh $500 million capital replenishment to the Nigeria Trust Fund (NTF), a key funding mechanism within the African Development Bank (AfDB).
Announced in May 2025, the renewed funding will extend the NTF’s operations for another 15 years. Established in 1976 and fully financed by Nigeria, the fund plays a vital role in supporting low-income African countries through concessional loans and development initiatives.
President Bola Tinubu highlighted the contribution in a congratulatory message to Mauritanian President Mohamed Ghazouani following the election of Sidi Ould Tah as the ninth President of the AfDB. During a call from Lagos, Tinubu expressed Nigeria’s full support for Tah’s incoming administration and praised the transparent process that led to his election.
“Nigeria remains the AfDB’s largest shareholder and a steadfast partner in its mission to drive inclusive growth and reduce poverty across Africa,” Tinubu stated.
He reiterated Nigeria’s commitment to collaborating closely with Tah to advance shared priorities, including infrastructure development, energy access, agricultural transformation, and climate resilience.
The President also commended the outgoing AfDB President, Dr. Akinwumi Adesina, for a decade of impactful leadership and wished him success in his future endeavours.
