Nigeria has shown its commitment to Africa’s growth by pledging an additional $500 million to the Nigeria Trust Fund (NTF). The move aims to boost affordable financing for low-income countries across the continent.
The Minister of Finance and Coordinating Minister of the Economy announced the 2025 African Development Bank (AfDB) Annual Meetings in Abidjan. At the signing event, he said the new contribution reflects Nigeria’s continued dedication to helping less developed African countries grow. He also praised the outgoing AfDB President for expanding the Bank’s global impact over the past ten years.
The Minister confirmed that the $500 million will be released over time and will extend the NTF’s operations until 2040. He added that while all African countries work toward progress, it is vital to provide special support to the most vulnerable ones. He stressed that the Fund plays a key role in reducing poverty, modernising economies, and driving inclusive growth across the region.
Nigeria Trust Fund Continues to Empower Africa’s Fragile Economies
The AfDB President welcomed Nigeria’s renewed support, calling it both “timely” and “strategic.” He said the extra funding would help the Bank improve its balance sheet, raise hybrid capital, and attract more private investment to support low-income countries. He added that Nigeria’s leadership would help expand access to long-term capital for fragile states, allowing them to grow stronger and adopt sustainable financial systems.
He also described the NTF as a powerful tool that helps the continent’s most fragile economies. He thanked Nigeria for standing behind Africa’s shared progress.
Nigeria launched the NTF in 1976, and the AfDB manages it. The Fund gives low-interest loans to African countries that need help developing their economies. Unlike other AfDB programs that provide money directly to governments, the NTF supports specific projects. These can include private or public sector ventures, joint efforts with other AfDB funds, or additional support for existing projects.
With this new funding, the Nigeria Trust Fund will play a bigger role in helping Africa’s poorest countries access the financing they need for long-term development and economic stability.
No Comments