Nigeria and AfDB Plan Portfolio Review and Cooperation

On 12 October 2026, Nigeria and the African Development Bank (AfDB) agreed to conduct a joint technical review of the Bank's portfolio in Nigeria and to prepare for an official visit by AfDB President Dr Sidi Ould Tah. The agreement was reached during a meeting between the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and Dr Ould Tah on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand.

Oyedele confirmed Nigeria's intention to remain the Bank's largest shareholder and fulfill its capital subscription obligations. He expressed that the long-standing relationship should yield more development finance and economic benefits.

Oyedele supported the AfDB's Four Cardinal Points agenda, which includes bridging Africa's financing gap and building resilient infrastructure. The portfolio review aims to identify bottlenecks and align ongoing operations with Nigeria's development priorities.

Discussions also covered the high cost of borrowing and the need for African financial integration.