President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to deepening its partnership with the International Finance Corporation (IFC) and the World Bank Group as part of efforts to attract investment into critical infrastructure and accelerate economic growth across the country.
Tinubu made this known after meeting with IFC Managing Director Makhtar Diop and his team on the sidelines of the Africa CEO Forum in Kigali, Rwanda, where discussions focused on infrastructure financing, public-private partnerships and investment opportunities in Nigeria.
The President said Nigeria welcomed the IFC’s ongoing efforts to support the development of a Public-Private Partnership infrastructure pipeline aimed at addressing the country’s estimated annual urban infrastructure deficit of about $14 billion.
“I was pleased to meet with Managing Director of IFC, Makhtar Diop and his team in Kigali on the margins of the Africa CEO Forum,” Tinubu stated.
“Nigeria welcomes IFC’s work in advancing a PPP infrastructure pipeline to help address our annual urban infrastructure gap of about $14 billion. This is the type of practical partnership our reforms are designed to unlock,” he added.
Tinubu explained that his administration’s economic reforms under the Renewed Hope Agenda are focused on creating an enabling environment capable of attracting long-term capital and credible international partners into strategic sectors of the economy.
According to him, the partnership with the IFC would support investments in urban infrastructure, water supply, transportation systems, energy access, small business financing and local currency solutions designed to strengthen economic productivity and regional integration.
“From urban infrastructure to water, land transportation, energy access, MSME finance, and local currency solutions, we are building a framework that can move capital into real projects, create jobs, improve productivity, and strengthen regional connectivity with our neighbours,” the President said.
Tinubu stressed that Nigeria is positioning itself as a destination for serious investors and viable development projects capable of delivering tangible economic benefits to citizens.
“Nigeria is ready for serious capital, credible partners, and bankable projects. Under our Renewed Hope Agenda, we must turn ambition into delivery, and delivery into better lives for our people,” he stated.
The President further expressed optimism about expanding cooperation with the IFC and the broader World Bank Group in areas critical to economic inclusion, infrastructure development and shared prosperity.
“I look forward to deepening this partnership with IFC and the World Bank Group as we build infrastructure for growth, inclusion, and shared prosperity,” Tinubu added.
