President Bola Tinubu, during his visit to Mecca, Saudi Arabia, initiated negotiations for a multi-billion dollar infrastructure finance facility from the Islamic Development Bank. The aim is to support a diverse range of infrastructure projects at the federal and sub-national levels in Nigeria.
The disclosure was made in a statement by Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity.
The productive investment discussions between Tinubu and Dr. Mansur Muhtar, the Vice-President (Country Programs) of the Islamic Development Bank, took place following the President’s return from evening prayers.
“Nigeria is facing significant gaps in port infrastructure, power infrastructure, and agro-allied facilities crucial for ensuring sustainable food security in our country. These gaps offer an unparalleled opportunity for astute investors in a market that is undeniably the largest on the continent. We foresaw the potential of the Lekki Deep Seaport before others, and now we must exhibit bold foresight once again,” remarked Tinubu.
“We view you as a pivotal facilitator. We have collaborated in the past, and now we aspire to elevate and expand our partnership, pursuing more ambitious goals with clarity of vision,” Tinubu articulated.
Recognizing the historical significance of Tinubu’s prompt and decisive economic reforms, Muhtar expressed that the global financial community has been closely monitoring developments in Nigeria and has concluded that Africa’s largest economy is now resolute in its commitments.
“Mr. President, we understand the challenging circumstances you inherited. We are committed to supporting substantial investments in Nigeria. We concur that the success of Nigeria is intricately linked to the success of the entire African continent, and it is imperative for Africa to thrive,” Muhtar affirmed.
