Nigeria Signs Cooperation Agreement with IFC to Fast-Track Infrastructure and Investment

The Federal Government has signed a cooperation agreement with the International Finance Corporation, IFC, to accelerate the delivery of bankable infrastructure projects and mobilise private capital critical to Nigeria’s economic transformation.

The agreement, signed in Abuja on Wednesday, was attended 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, the Minister of Health and Coordinating Minister of Social Welfare, Dr Ali Pate, senior government officials, and top executives of the World Bank Group and IFC.

Bagudu said the partnership would help close Nigeria’s infrastructure gap by preparing credible, investment-ready projects across rail, energy, water security, healthcare, and digital infrastructure. He stressed the importance of giving investors confidence and clarity on where to allocate capital.

IFC Vice President for Africa, Mr Ethiopis Tafara, described the agreement as the outcome of a year-long collaboration built on a shared vision for Nigeria’s future. He said the cooperation would improve project identification, structuring, and delivery, supporting transformative initiatives aligned with President Tinubu’s Renewed Hope Agenda. Tafara added that public budgets alone cannot meet Nigeria’s infrastructure needs and called public-private partnerships vital to achieving national development goals.

IFC Regional Director for Central Africa and Anglophone West Africa, Ms Dahlia Khalifa, described the agreement as a major milestone in Nigeria’s development journey. She highlighted the country’s youthful population and ongoing reforms as strong growth drivers that require robust infrastructure and effective public-private collaboration. Khalifa noted that IFC has mobilised around 20 billion dollars in investments across key sectors over the past five years and said the agreement would support transformative projects in transport, energy, and small and medium-sized enterprises.

“This is the kind of collaboration that turns ambition into achievement. Together, we will build projects that connect markets, power industries, and unlock the full potential of the Nigerian people,” she added.