May 30, (THEWILL) – President Bola Tinubu has welcomed the election of Dr. Sidi Tah as the ninth President of the African Development Bank (AfDB).
In a telephone conversation on Thursday with Mauritanian President Mohamed El Ghazouani, Tinubu congratulated Tah on his emergence as the new AfDB Chief.
He praised the transparent process that produced the former Mauritanian Finance Minister and Director General of the Arab Bank for Economic Development in Africa (BADEA).
President Tinubu expressed confidence in Tah’s leadership, noting his wealth of experience and proven track record in previous roles.
Reaffirming Nigeria’s strong partnership with the AfDB, Tinubu highlighted the country’s position as the institution’s largest shareholder among its 81 member countries, which include 54 African nations and 27 non-African states.
He also reiterated his commitment to working closely with the incoming AfDB president to advance shared priorities such as infrastructure development, agricultural transformation, energy access, and climate resilience.
Tinubu stated, “Nigeria recently approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF) in May 2025, extending the fund’s operations by another 15 years.
“Established in 1976, the NTF is a special AfDB fund fully financed by Nigeria to support development projects across Africa. This renewed commitment underscores Nigeria’s continued dedication to the Bank’s mission of driving inclusive growth and poverty reduction on the continent.”
President Tinubu further pledged Nigeria’s full support for Tah in implementing his vision for the AfDB, which includes strengthening regional financial institutions, promoting Africa’s economic independence, leveraging population growth for development, and building climate-resilient infrastructure.
Dr. Sidi Tah will succeed Nigeria’s Dr. Akinwumi Adesina, who is expected to step down in September after completing two five-year terms.
President Tinubu also thanked Adesina for his service and wished him success in his future endeavours.
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