New Leadership At AfDB: What It Means For Nigeria’s Economy

AFDB Country Strategy Paper
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Nigeria’s economy stands at a crossroads, as new leadership takes the reins at the African Development Bank.

With Sidi Ould Tah’s election as president, the AfDB is preparing to scale up investments and refocus on sustainable growth across the continent.

Nigeria’s economy stands at a crossroads as new leadership takes the reins at the African Development Bank.

Previously Mauritania’s finance minister, Tah brings over 35 years of experience in African finance and officially begins his term on September 1, 2025.

He replaces Nigeria’s Akinwumi Adesina, whose leadership helped shape AfDB’s current foundation.

Now, Tah intends to address Africa’s staggering $400 billion annual development financing gap.

AfDB’s refreshed focus on infrastructure, energy access, agriculture, and regional trade under the AfCFTA gives Nigeria a critical opportunity to direct new funding toward its pressing priorities.

Already, the West African country has partnered with AfDB on landmark projects like the $200 million Nigeria Electrification Project and the $15.6 billion Lagos-Abidjan Corridor.

Persistent Domestic Challenges

However, Nigeria must overcome several challenges.

Over 40% of its population still lacks electricity.

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SMEs contribute nearly half of GDP, yet struggle with a $158 billion financing gap.

Moreover, Nigeria continues to face governance concerns—it ranks 140th on Transparency International’s 2024 Corruption Index, while AfDB project delivery meets deadlines only 60% of the time.

The Road Ahead

To move forward, Nigeria must strengthen project oversight, enforce transparency, and ensure new funding translates into growth.

With its debt nearing 40% of GDP, the country can no longer afford inefficiency.

Ultimately, Nigeria holds the power to shape this next chapter.

The leadership shift at AfDB opens the door—Abuja must now choose to walk through it.

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