Nigeria, IsDB deepen ties to spur development financing

Barbara Bako, Abuja

Nigeria has reinforced its partnership with the Islamic Development Bank (IsDB) to expand funding support for infrastructure, agriculture, and other growth-driving sectors of the economy.

Minister of State for Finance, Dr. Doris Uzoka-Anite, led the Nigerian delegation to a high-level bilateral meeting with the IsDB in Washington D.C. on the sidelines of the ongoing World Bank and IMF Annual Meetings.

The discussions focused on expanding cooperation in areas such as Sukuk financing, Sharia-compliant financial instruments, agriculture, renewable energy, infrastructure, education, and healthcare.

Both parties also explored opportunities in special agro-industrial processing zones and the halal economy.

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Dr. Uzoka-Anite said, “This meeting underscores the strong bond between Nigeria and the IsDB. Under the Renewed Hope Agenda, President Bola Ahmed Tinubu’s Administration remains committed to repositioning our economy and driving infrastructure development.”

“We appreciate IsDB’s support and look forward to leveraging their expertise to accelerate our economic growth and development initiatives,” she added.

The meeting reaffirmed Nigeria’s commitment to harnessing international partnerships for economic diversification, job creation, and poverty reduction.

As global economic dynamics evolve, Nigeria’s engagement with institutions like the IsDB is expected to play a central role in driving sustainable development and improving citizens’ welfare.