The Federal Government has entered into a strategic cooperation agreement with the International Finance Corporation (IFC) to accelerate the development of bankable infrastructure projects and attract private capital essential for Nigeria’s economic transformation.
The agreement was signed in Abuja on Wednesday, with top government officials in attendance, including the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; and the Minister of Health and Coordinating Minister of Social Welfare, Dr. Ali Pate. Senior executives of the World Bank Group and IFC were also present.
In a statement issued by the Budget Ministry, Senator Bagudu said the partnership would help Nigeria bridge its vast infrastructure deficit by preparing credible, investment-ready projects capable of attracting global investors.
“Nigeria is a country brimming with opportunities. With a population exceeding 230 million, our needs in rail, energy, water security, healthcare, and digital infrastructure are extensive,” Bagudu stated.
“This agreement ensures that we prepare projects properly, giving investors the confidence and clarity they need to allocate capital.”
He added that the partnership aligns with President Bola Ahmed Tinubu’s reform agenda, which emphasizes macroeconomic stability, predictability, and private sector-led growth as outlined in Nigeria’s Agenda 2050.
Speaking on behalf of IFC, Vice President for Africa, Mr. Ethiopis Tafara, said the agreement reflects the outcome of a year-long collaboration centered on a shared vision for Nigeria’s sustainable growth.
According to him, the cooperation will strengthen project and budget preparation by improving how high-impact projects are identified, structured, and delivered across key sectors.
Also speaking, IFC Regional Director for Central Africa and Anglophone West Africa, Ms. Dahlia Khalifa, described the agreement as a significant milestone in Nigeria’s development journey.
“Nigeria’s ongoing reforms and its youthful population present tremendous growth potential,” she said.
“Unlocking that potential requires strong infrastructure and vibrant public-private partnerships. That’s what this collaboration is about — creating the framework for partnerships to thrive and deliver shared prosperity for all Nigerians.”
The partnership is expected to serve as a catalyst for Nigeria’s long-term infrastructure goals by fostering investor confidence and supporting sustainable, inclusive growth.
