The Federal Government of Nigeria has announced a $500 million replenishment of the Nigeria Trust Fund (NTF), signaling a renewed commitment to advancing private sector growth and inclusive development across the African continent. The move extends the fund’s operational timeline to 2040 and is expected to catalyze targeted investments in low-income and fragile African nations.
The announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during the signing ceremony held on the sidelines of the 2025 Annual Meetings of the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire. Edun noted that Nigeria’s renewed support for the NTF underscores its leadership role in fostering economic development and regional cooperation.
Established in 1976, the Nigeria Trust Fund is a concessional loan facility managed by the AfDB. It is designed to provide soft loans to low-income African countries to support projects in infrastructure, agriculture, and social development. Unlike broader funding mechanisms, the NTF allocates its resources to specific development projects rather than directly to national budgets, ensuring targeted impact.
The $500 million infusion is expected to help unlock additional private capital by improving credit availability and reducing financing barriers for businesses in vulnerable economies. The fund’s replenishment aligns with Nigeria’s broader development priorities, including regional economic integration, poverty alleviation, and sustainable growth.
AfDB President, Dr. Akinwumi Adesina, lauded Nigeria’s gesture, describing it as a timely and strategic intervention that will enable the bank to expand its developmental reach. He emphasized that the replenishment would allow the institution to attract more private sector investments to underserved regions across Africa.
With this move, Nigeria has reaffirmed its role as a strong advocate for shared prosperity on the continent, demonstrating a clear commitment to supporting inclusive economic transformation and long-term development across Africa.
