Nigeria Pledges Additional $500 Million to AfDB’s Nigeria Trust Fund

By Achimi muktar

In a move hailed as a powerful display of continental leadership, Nigeria has committed a fresh $500 million to the Nigeria Trust Fund (NTF)—a strategic development mechanism managed by the African Development Bank (AfDB)—to support low-income African countries.

The announcement was made Thursday by Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, during the official signing ceremony at the AfDB Annual Meeting 2025 in Abidjan, Côte d'Ivoire.

Edun emphasized Nigeria’s renewed commitment to Africa’s shared prosperity, stating that the NTF’s extension until 2040 and the half-billion-dollar injection underline the country’s resolve to drive poverty reduction, economic modernization, and inclusive development across the continent.

“We must try not to leave anyone behind,” Edun declared.
“The NTF is there to help the least stable among us, and Nigeria is proud to provide that leadership.”

He also used the platform to pay tribute to outgoing AfDB President Akinwumi Adesina, lauding his “transformative leadership” over the past decade that elevated the bank’s influence and reach across Africa.

In response, Dr. Akinwumi Adesina—clearly moved by the gesture—praised Nigeria’s contribution as a game-changer for development finance.

“The $500 million you have committed will allow us to do balance sheet optimisation,” Adesina explained.
“It will provide hybrid capital and unlock private sector investments for countries in need.”

He added that with sustainable financing options like the NTF, low-income countries can reduce debt risks, boost private sector growth, and scale up critical infrastructure without being buried under unsustainable borrowing.

“Nigeria again is doing the right thing and showing the right leadership,” he added.

The Nigeria Trust Fund, established in 1976 and managed by the AfDB, provides concessional loans to the continent’s most vulnerable economies—funding everything from infrastructure to healthcare and agriculture. The latest boost is expected to reinvigorate the fund's ability to mobilize capital, drive industrialisation, and bridge inequality gaps across Africa.

With Nigeria’s renewed financial backing and political will, the NTF is set to become a flagship model for pan-African development partnerships—fueling hopes that more countries will follow suit in matching talk with action.

As African nations seek to wean themselves off external aid and build internal strength, Nigeria’s $500 million pledge signals a new era of homegrown solutions and regional solidarity. It’s not just money on the table—it’s a bold bet on Africa’s collective future.