IFC To Explore Major Investments In Nigeria’s Livestock, Energy, Housing Sectors
The International Finance Corporation (IFC) is set to dispatch a mission to Nigeria to explore scalable investment structures aimed at unlocking private capital for the country’s livestock, energy, and housing sectors.
IFC Managing Director, Makhtar Diop, disclosed this on Thursday during a meeting with President Bola Ahmed Tinubu on the sidelines of the 13th Africa CEO Summit in Kigali, Rwanda.
Diop led an IFC delegation that included Ethiopis Tafara and Dahlia Khalifa.
According to him, the Corporation is keen on strengthening collaboration with Nigeria in key sectors capable of driving economic growth and attracting sustainable investments.
He commended President Tinubu for what he described as bold and courageous economic reforms, particularly the removal of fuel subsidy and the harmonisation of Nigeria’s foreign exchange system.
Diop said the reforms had sent a strong signal to global investors about Nigeria’s commitment to implementing difficult but necessary economic policies.
“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,” he stated.
Speaking during the meeting, President Tinubu reaffirmed Nigeria’s commitment to leveraging private capital for institutional and infrastructural development across the country.
The President stressed the need for African pension funds to evolve into strategic development finance instruments capable of supporting major infrastructure and productive-sector investments.
He further urged African leaders and the private sector to intensify efforts toward mobilising institutional capital within the continent to finance infrastructure, energy transition, and long-term economic transformation.
Tinubu noted that such efforts were critical to accelerating development across Africa and addressing prevailing socio-economic challenges.
The President also emphasised the importance of decentralising energy systems and strengthening transmission infrastructure to attract greater private-sector participation.
“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.
The meeting also focused on strategies for deepening infrastructure financing through institutional investors, local currency financing structures, and swap arrangements.
Diop noted that local currency facilities and banking partnerships involving Nigerian financial institutions, including Access Bank, could support interstate financial integration, facilitate trade, and improve business activities across Africa.
He added that African leaders must work collectively to address shared development challenges and drive what he described as an “African Renaissance” anchored on strong African institutions and regional economic champions.
