Federal Government has signed a cooperation agreement with the International Finance Corporation (IFC) to strengthen project preparation, mobilise private capital, and fast-track bankable infrastructure projects critical to Nigeria’s economic growth.
The agreement, signed in Abuja, was witnessed by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; and the Minister of Health and Coordinating Minister of Social Welfare, Dr Ali Pate, alongside senior government officials and executives of the World Bank Group and IFC.
Senator Bagudu described the agreement as a strategic move to address Nigeria’s infrastructure deficit through well-prepared, investment-ready projects capable of attracting private-sector financing.
He said the initiative aligns with President Bola Ahmed Tinubu’s reform agenda, which prioritises macroeconomic stability, policy predictability, and private-sector-led growth.
Speaking on behalf of IFC, its Vice President for Africa, Mr Ethiopis Tafara, said the partnership lays the groundwork for transformative projects under the Renewed Hope Agenda, noting that public funds alone are insufficient to close Nigeria’s infrastructure gap.
Also speaking, IFC Regional Director for Central Africa and Anglophone West Africa, Ms Dahlia Khalifa, said the agreement marks a major milestone in Nigeria’s development efforts.
She said the partnership will support the identification and delivery of high-impact projects in sectors including transport, energy, digital infrastructure, and small and medium-sized enterprises.
Khalifa reaffirmed IFC’s commitment to Nigeria, disclosing that the organisation has mobilised about 20 billion dollars in investments across various sectors in the past five years.
The agreement underscores the Federal Government’s commitment to deepening public-private partnerships to drive sustainable development, job creation, and shared prosperity nationwide.
UMAR S FADA
