By NIyi JACOBS
In a bold move to strengthen regional development and spur private sector participation across Africa, the Federal Government of Nigeria has replenished the Nigeria Trust Fund (NTF) with $500 million and extended its operation until 2040.
The agreement, signed on the sidelines of the African Development Bank (AfDB) Annual Meetings in Abidjan, was formalized by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and outgoing AfDB President, Dr. Akinwumi Adesina.
Established in 1976, the NTF provides concessional funding to low-income African countries for critical development projects. The fresh capital injection reinforces Nigeria’s long-standing commitment to African solidarity and aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“This is not just an act of generosity—it is a strategic investment in Nigeria’s future and the prosperity of our neighbours,” Edun stated during the signing ceremony. “A stronger continent means greater opportunity for our people and our businesses.”
The $500 million replenishment is expected to unlock high-impact investments in key sectors such as infrastructure, agriculture, education, and healthcare. It also paves the way for increased Nigerian private sector participation in cross-border development projects, fostering inclusive economic growth across the continent.
The Ministry of Finance emphasized that the renewed commitment to the Trust Fund reflects Nigeria’s leadership role in driving pan-African development and creating long-term value for its citizens through regional economic integration.
