President Bola Tinubu has congratulated President Mohamed Ould Cheikh El Ghazouani of Mauritania following the election of Sidi Ould Tah as the new President of the African Development Bank (AfDB) Group.
Tah, a former Mauritanian Finance Minister and Director-General of the Arab Bank for Economic Development in Africa (BADEA), was elected as the ninth president of the AfDB during the institution’s Annual Meetings held in Abidjan, Côte d’Ivoire.
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In a telephone conversation from Lagos yesterday, Tinubu commended the transparent and credible process that produced Tah as the successor to Nigeria’s Akinwumi Adesina, who is set to leave office in September after serving two five-year terms.
Tinubu expressed confidence in the new AfDB leader, citing his extensive experience and previous leadership roles.
He reaffirmed Nigeria’s commitment to the Bank and pledged to collaborate with Tah to advance key priorities such as infrastructure development, agricultural transformation, energy access, and climate resilience across the continent.
Nigeria, the largest shareholder among the AfDB’s 81 member countries, which include 54 African and 27 non-African states, has maintained a strategic partnership with the institution.
In May 2025, the Federal Government approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF), extending its operations for another 15 years.
Established in 1976, the NTF is a Nigeria-funded special facility under the AfDB designed to support development projects across Africa.
Tinubu noted that the fund’s renewal reaffirms Nigeria’s dedication to the Bank’s mission of promoting inclusive growth and poverty reduction.
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The President assured Tah of Nigeria’s full support in implementing his vision for the Bank, which includes enhancing regional financial institutions, promoting economic independence across the continent, and investing in climate-resilient infrastructure while harnessing Africa’s demographic potential for sustainable development.
Tinubu also thanked the outgoing President, Adesina, for his service and wished him success in his future endeavours.
