Nigeria’s Finance Minister, Wale Edun, has called on the Islamic Development Bank (IsDB) to increase investments and adopt innovative strategies in energy, infrastructure, agriculture, and railway development globally.
Speaking at the IsDB Governors’ Retreat in Al-Madinah, Saudi Arabia, Edun emphasized the need for transformative, high-impact projects while maintaining minimal debt for sustainable development. He also advocated for bold reforms and robust monitoring systems to ensure lasting impact.
The retreat focused on shaping the IsDB’s 10-year strategy (2026–2035) to address global development challenges. Edun’s proposals align with Nigeria’s commitment to fostering sustainable growth and strengthening the IsDB’s contributions to member states.
In related news, President Bola Tinubu and a Nigerian delegation are participating in the Abu Dhabi Sustainability Week (ADSW), a global platform aimed at tackling sustainability challenges and promoting responsible development.
Last year, Nigeria negotiated a multi-billion-dollar financing facility with the IsDB to address the country’s infrastructure deficits. The bank also pledged $125 million to support the Abia State Integrated Infrastructure Development Project, reflecting its commitment to Nigeria’s progress.