The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for transformative, high-impact investments in infrastructure, agriculture, rail, and energy.
Speaking at the Islamic Development Bank Governors’ (IsDB Group) Retreat in Al-Madinah, Saudi Arabia, Edun emphasised the need for innovative and sustainable financing strategies.
In a statement posted on the ministry’s X page today, Edun urged the IsDB to prioritize investments with strong returns to ensure long-term financial sustainability.
Highlighting the need for a paradigm shift in development financing, he called on the bank to align its approach with current economic realities.
Edun stressed the importance of designing innovative funding solutions tailored to national priorities and debt dynamics.
He also advocated for a concessional financing strategy that achieves developmental goals while minimizing debt accumulation.
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The retreat featured significant contributions from Algeria’s Minister of Finance and Chairman of the Board of Governors, H.E. Laaziz Faid, and Saudi Arabia’s Finance Minister, H.E. Mohammed Al-Jadaan, who opened the discussions.
Responding to the IsDB’s call for input, Edun underscored the importance of robust monitoring systems to evaluate the real impact of the bank’s initiatives.
His remarks reflected Nigeria’s commitment to strengthening the bank’s capacity to deliver measurable results for its member states.
The retreat, designed to build consensus on the IsDB’s upcoming 10-year strategy (2026–2035), provided a platform for governors to exchange ideas and offer feedback on how the bank can address pressing developmental challenges in an evolving global landscape.
