President Bola Tinubu has congratulated President Mohamed
Ghazouani of Mauritania on the election of Sidi Ould Tah as the ninth president
of the African Development Bank (AfDB) Group.
Tah was elected on Thursday at the annual meetings of the
African Development Bank (AfDB) Group, held in Abidjan, Côte d’Ivoire.
Prior to the development, he was a former finance minister
in Mauritania and director-general of the Arab Bank for Economic Development in
Africa (BADEA).
After his election on Thursday, the presidency said Tinubu
commended the transparent process that led to the emergence of Tah on a telephone
conversation from Lagos with the Mauritanian leader.
“Tah will succeed Dr Akinwumi Adesina of Nigeria, who will
step down in September after completing two five-year terms,” the statement
reads.
“President Tinubu believed that Dr Tah would bring a wealth
of experience to the role, given his track record in former positions.
“President Tinubu reaffirmed Nigeria’s strong partnership
with the AfDB, emphasising its status as the institution’s largest shareholder
among its member countries, comprising 54 African nations and 27 non-African
states.
“The President restated his commitment to working closely
with the incoming AfDB president to advance shared priorities, including
infrastructure development, agricultural transformation, energy access, and
climate resilience.”
The presidency disclosed that 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,” the
statement said.
“This renewed commitment underscores Nigeria’s continued
dedication to the Bank’s mission of driving inclusive growth and poverty
reduction on the continent.”
The presidency said Tinubu also pledged Nigeria’s “full
support” for Tah in implementing his vision for the institution, including
strengthening regional financial institutions, promoting Africa’s economic
independence, leveraging population growth for development, and building
climate-resilient infrastructure.
Tinubu also appreciated Akinwumi Adesina, the outgoing AfDB
president, and wished him success in his future endeavours.
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