Nigeria and the African Development Bank (AfDB) have agreed to review the bank’s projects in the country.
The review will identify delays, improve implementation and align ongoing operations with the government’s development priorities.
The agreement was reached at a meeting between the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and AfDB President Sidi Ould Tah on Monday, October 12.
The meeting took place on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand.
Both sides also agreed to prepare for a proposed visit to Nigeria by the AfDB president.
Oyedele reaffirmed Nigeria’s commitment to remaining the bank’s largest shareholder and meeting its capital subscription obligations.
He also expressed support for Ould Tah’s Four Cardinal Points agenda.
The agenda focuses on closing Africa’s financing gap, strengthening financial sovereignty, harnessing the continent’s growing population and building resilient infrastructure through local processing of natural resources.
The two officials also discussed the high cost of borrowing faced by African countries.
Ould Tah revealed that the bank is developing a facility to help African governments engage credit rating agencies and challenge assessments where necessary.
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