The International Finance Corporation (IFC) is set to dispatch a team to Nigeria to explore scalable investment opportunities in livestock, energy, and housing following talks with President Bola Tinubu at the 13th Africa CEO Summit in Kigali, Rwanda.
IFC Managing Director Makhtar Diop disclosed this during a meeting with the Nigerian leader on Thursday, saying the Corporation was interested in developing investment structures capable of unlocking private capital into key sectors of the Nigerian economy.
The IFC delegation included Ethiopis Tafara, Regional Vice President for Africa, and Dahlia Khalifa, Director for Central Africa and Nigeria.
Diop commended President Tinubu for what he described as bold economic reforms, particularly the removal of fuel subsidy and the harmonisation of Nigeria’s foreign exchange system.
According to him, the reforms have sent a strong signal to international investors about Nigeria’s commitment to difficult but necessary economic changes.
“President Tinubu, you have been so courageous in removing the subsidy. When you did it, I said to myself, President Tinubu took the bull by the horns,” Diop stated.
President Tinubu, in his remarks, reiterated Nigeria’s readiness to work with private investors to drive institutional and infrastructure development across Africa.
He stressed the need for African pension funds to evolve into strategic development finance tools capable of supporting infrastructure and productive-sector investments.
The President also urged African leaders and the private sector to focus on mobilising institutional capital within the continent to finance infrastructure, energy transition, and long-term economic transformation.
“If you want Africa to leapfrog, then energy transmission and decentralisation are important. The funding gap is there, and we must work together,” Tinubu said.
Discussions at the meeting also centred on local currency financing structures, swap arrangements, and partnerships with financial institutions, including Access Bank, to deepen infrastructure financing and promote interstate financial integration across Africa.
Diop added that African countries must work together to address common development challenges and build what he described as an “African Renaissance” driven by strong institutions and regional economic champions.