The International Finance Corporation (IFC) has unveiled plans to send an investment mission to Nigeria as part of efforts to mobilise private sector funding for key areas of the economy.
The IFC Managing Director, Mr Makhtar Diop, disclosed the initiative on Thursday during a meeting with President Bola Tinubu on the sidelines of the Africa CEO Forum held in Kigali, Rwanda.
The discussions centred on economic cooperation, regional integration and strategies for attracting sustainable investments into Africa’s critical sectors.
A statement issued after the meeting by the President’s spokesman, Mr Bayo Onanuga, said the IFC delegation was in Nigeria’s interest to deepen investment partnerships and explore financing opportunities capable of accelerating development.
The delegation, led by Diop, included senior IFC officials, Ethiopis Tafara and Dahlia Khalifa, who oversee strategic operations across the African region.
Diop explained that the planned mission would focus on developing investment structures that could unlock private capital for sectors considered vital to economic growth.
According to him, the IFC is seeking stronger collaboration with Nigeria in energy, housing, agriculture and livestock development.
He commended President Tinubu for implementing difficult economic reforms, particularly the removal of fuel subsidy and the harmonisation of the foreign exchange market.
“President Tinubu showed courage by confronting difficult choices and sending investors a powerful message,” Diop said.
He added that the reforms had demonstrated political will and helped improve investor confidence in Nigeria’s economy.
President Tinubu, in his remarks, reaffirmed his administration’s commitment to attracting long-term private investments capable of transforming national institutions and infrastructure.
The President stressed the need for African countries to rely more on domestic capital to achieve development goals.
“Africa must mobilise its own capital if development ambitions are to succeed,” Tinubu said.
He noted that pension funds across the continent should play stronger roles in financing infrastructure and productive sectors of the economy.
Tinubu also identified infrastructure financing as a major driver of economic growth and regional competitiveness.
Speaking further on the continent’s development priorities, the President highlighted the importance of decentralised energy systems and improved electricity transmission networks.
“If Africa must leap forward, power transmission and decentralisation cannot be ignored,” he said.
The meeting also examined issues surrounding institutional investment, local currency financing and cross-border financial arrangements aimed at improving trade and economic cooperation within Africa.
Diop noted that banking partnerships, particularly those involving Access Bank, could help strengthen regional financial integration and support intra-African trade.
He further called for what he described as an African Renaissance driven by resilient institutions, stronger private sector participation and homegrown economic champions.
