The Federal Government of Nigeria has approved a $500 million capital replenishment of the Nigeria Trust Fund (NTF), extending the facility for an additional 15 years to support development financing across low-income African countries.
The announcement was made by the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, during the opening session of the 2025 AfDB Annual Meetings in Abidjan, Côte d’Ivoire.
He expressed appreciation to President Bola Ahmed Tinubu and Vice President Kashim Shettima for their backing of the renewed commitment.
“To President Bola Ahmed Tinubu and to Vice President Kashim Shettima, for your support over the past two years, I am profoundly grateful. Thank you for graciously approving the replenishment of the Nigeria Trust Fund for another 15 years for $500 million,” Dr. Adesina stated.
Established in 1976, the Nigeria Trust Fund is a self-sustaining concessional facility operated by the AfDB. It was created through a formal agreement between the Nigerian government and the Bank to provide targeted support to economically vulnerable African countries.
The fund operates independently of the African Development Fund (ADF) and core AfDB capital, offering more flexible and project-specific financing.
Unlike the ADF, which allocates funds through country quotas, NTF resources are deployed based on project needs, allowing Nigeria to support both public and private sector initiatives through co-financing or standalone interventions. The fund is also used to enhance ongoing AfDB-supported projects by bridging funding gaps.
The renewed injection of $500 million is expected to expand Nigeria’s development footprint across Africa and reinforce its strategic role in supporting regional integration, infrastructure and economic resilience in fragile states.
Analysts view the extension as a continuation of Nigeria’s longstanding commitment to multilateral development financing and its objective of promoting stability and inclusive growth on the continent.
The 15-year renewal also signals confidence in the AfDB’s governance and Nigeria’s support for its regional mandate.
With the new capital commitment, the NTF is expected to play a pivotal role in co-financing projects in energy, transportation, agriculture and social services, particularly in countries with limited access to concessional capital.
Nigeria’s continued contribution to the fund aligns with its foreign policy objectives and its leadership role within the African Union and other regional economic bodies.
It also underscores the country’s emphasis on regional cooperation as a tool for sustainable development and long-term peacebuilding.
The AfDB’s 2025 Annual Meetings have focused heavily on deepening partnerships, mobilising capital for climate adaptation, and addressing structural gaps in fragile economies.
Nigeria’s renewed commitment to the NTF adds significant weight to the Bank’s efforts to unlock more targeted development finance for Africa’s least developed nations.
