The Federal Government has reaffirmed its commitment to Africa’s economic development with a fresh contribution of $500 million to the Nigeria Trust Fund (NTF).
The announcement was made by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during the official signing ceremony held at the 2025 Annual Meetings of the African Development Bank (AfDB) in Abidjan, according to the News Agency of Nigeria (NAN).
Edun described the contribution as a clear demonstration of Nigeria’s leadership and solidarity with low-income African countries.
He also paid tribute to the outgoing AfDB President, Dr. Akinwumi Adesina, praising his transformative leadership over the past decade.
“We congratulate and felicitate 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,” he said.
Highlighting Nigeria’s renewed commitment to the NTF, Edun disclosed that the $500 million would be disbursed over time, with the fund’s tenure now extended to 2040.
“We know it is a poll 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,” he stated.
Responding to the announcement, Dr. Adesina applauded Nigeria’s renewed support, calling it a model of leadership in a time of urgent development needs.
“The 500 million dollars 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
“The NTF is there to help the least stable among us, and Nigeria is proud to provide that leadership to Africa and to be an integral part of the AfDB,” Adesina said.
He noted that expanding access to capital is crucial for these nations to develop their private sectors and adopt sustainable financing models.
“Nigeria is once again demonstrating the right leadership and commitment to Africa’s most vulnerable economies,” he added.
What you should know
The Nigeria Trust Fund, managed by the AfDB, was established in 1976 through an agreement between the Nigerian government and the Bank. It provides concessional financing for projects and programmes in low-income African countries.
Unlike the African Development Fund (ADF), NTF resources are allocated to specific projects rather than countries. They can be used for stand-alone public or private sector operations, co-financing with the AfDB and ADF, or as supplementary loans for Bank-financed projects.
With the latest replenishment, the NTF is expected to play an even more pivotal role in supporting sustainable development across the continent.
