Nigeria has reaffirmed its commitment to Africa’s economic development with a fresh $500 million contribution to the Nigeria Trust Fund (NTF).
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made the announcement at the African Development Bank (AfDB) Annual Meetings 2025 in Abidjan.
“We know it is a pool of funds to help the less developing countries among us. We are all developing countries.
”We are all striving to achieve the reduction of poverty and improvement of our lives and people and indeed the industrialisation and modernisation of our economy. We must try not to leave anyone behind,” Edun said.
The minister said the renewed commitment was aligned with Nigeria’s development priorities, which include poverty reduction, economic modernisation, and industrialisation.
He emphasised that no African country should be left behind in the collective push for prosperity [1].
“We congratulate and felicitate with Dr Adesina on a most successful tenure of ten years. He raised the international profile and public persona of the AfDB, putting it firmly on the world stage,” Edun added, paying tribute to the outgoing AfDB President, Dr. Akinwumi Adesina.
Responding to the gesture, Adesina commended Nigeria’s bold step and described it as a model of leadership in a time of urgent development needs.
“The $500 million you have committed to the AfDB for the NTF will allow us to do balance sheet optimisation.
”It will provide hybrid capital, and mobilise more private capital for many low-income countries,” Adesina stated.
“Nigeria again is doing the right thing and showing the right leadership and commitment to the low-income countries in Africa,” he added.
The Nigeria Trust Fund, managed by the AfDB, was created to provide concessional financing for projects and programmes in low-income African countries.
With the latest replenishment, the Fund is expected to continue playing a critical role in strengthening development outcomes across the continent
NAN
