Nigeria has reaffirmed its leadership role in Africa’s economic development by committing an additional $500 million to the Nigeria Trust Fund (NTF), a move expected to enhance concessional financing for low-income countries across the continent.
The announcement was made by Nigeria’s Minister of Finance and Coordinating Minister of the Economy during the official signing ceremony at the 2025 Annual Meetings of the African Development Bank (AfDB) in Abidjan. He described the renewed commitment as a strong show of solidarity with less developed African nations, and a reaffirmation of Nigeria’s responsibility to promote inclusive growth across the region.
He also praised the outgoing AfDB President for his transformative leadership over the last ten years, noting that the Bank’s global visibility and influence had grown significantly during his tenure.
According to the Minister, the new $500 million contribution will be disbursed over time and extends the life of the NTF until 2040. He stressed that while all African countries are striving toward development, targeted support must be given to the most vulnerable economies to ensure no one is left behind. He highlighted the importance of this fund in addressing poverty reduction, economic modernisation, and inclusive growth across the continent.
In response, the AfDB President hailed Nigeria’s renewed support as timely and strategic. He explained that the new contribution would enable the Bank to optimize its balance sheet, provide hybrid capital, and unlock additional private sector investments for low-income countries. He emphasised that Nigeria’s leadership through the NTF would significantly expand access to capital for fragile states, allowing them to build resilient economies and adopt sustainable financing models.
He further noted that the NTF has become an essential tool for uplifting the most economically unstable regions in Africa and commended Nigeria for reinforcing its commitment to collective progress.
Established in 1976 by the Nigerian government and managed by the AfDB, the Nigeria Trust Fund provides concessional financing to support development programmes in low-income African countries. Unlike the African Development Fund, which allocates resources to countries, the NTF channels funding to specific projects, including standalone public or private sector operations, co-financing with other AfDB instruments, or as supplemental financing for ongoing projects.
With this latest replenishment, the NTF is positioned to play an even more central role in supporting sustainable development efforts across Africa, especially in areas requiring long-term, affordable finance.
