Tinubu Eyes $50 Billion Infrastructure Fund from IDB for Nigeria’s Multi-Sector Projects

President Bola Tinubu is actively pursuing a multi-billion dollar infrastructure finance facility from the Islamic Development Bank (IDB) to support a diverse range of infrastructure projects throughout Nigeria.

During discussions with Dr. Mansur Muhtar, the Vice-President (Country Programmes) of the Islamic Development Bank, President Tinubu emphasized the vast investment opportunities available in several sectors and identified the potential hindrance of access to finance and guarantees.

Addressing Muhtar after evening prayers in Mecca, Saudi Arabia, on Monday, Tinubu stated, “You can come in there. We see you as a critical enabler.”

The President’s ambition for a significant financial injection from the IDB was revealed by Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, in a statement issued on Tuesday.

Asserting Nigeria’s pivotal role, Tinubu declared, “Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity. We are determined to create a future for our gifted youths.”

In his assurances to the IDB, Tinubu conveyed confidence that investments in Nigeria would yield among the world’s highest returns. He affirmed that the country’s investment environment would be characterized by ease, with seamless processes facilitating the inflow and outflow of investor money.

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