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The USD 500 million contribution marks the largest single replenishment of the NTF in over a decade, reaffirming Nigeria’s pledge to pan-African development cooperation and regional economic transformation.
Nigeria has taken a bold step to reassert its leadership in Africa’s development landscape, committing USD 500 million to replenish the Nigeria Trust Fund (NTF), a concessional financing facility managed by the African Development Bank (AfDB).
The agreement, which extends the fund’s operations through 2040, was inked by Wale Edun, Minister of Finance and Coordinating Minister of the economy, and Akinwumi Adesina, outgoing AfDB President on the sidelines of the Bank’s Annual Meetings in Abidjan.
The USD 500 million contribution marks the largest single replenishment of the NTF in over a decade, reaffirming Nigeria’s pledge to pan-African development cooperation and regional economic transformation.
The Trust Fund, first established in 1976, provides low-interest loans and concessional finance to support development initiatives in low-income African countries.
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The funding will be channelled toward high-impact investments in infrastructure, agriculture, education, and healthcare sectors that are critical for sustainable development and economic resilience.
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