Sidi Ould Tah: Tinubu Congratulates AfDB President-Elect, Releases $500M to Development Bank
- President Bola Tinubu has commended the election of Dr Sidi Tah who emerged as the ninth president of the African Development Bank (AfDB) Group
- Tinubu, in a telephone conversation on Thursday, congratulated President Mohamed El Ghazouani of Mauritania following Tah’s election
- Tinubu's government also approved approved a $500 million fund to support AfDB's development projects across Africa
Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.
President Bola Ahmed Tinubu has congratulated President Mohamed Ould Cheikh El Ghazouani of Mauritania on the election of Dr Sidi Ould Tah as the ninth President of the African Development Bank (AfDB) Group.
Source: Twitter
Tah was the former Mauritanian Finance minister and director general of the Arab Bank for Economic Development in Africa (BADEA).
In a telephone conversation with the Mauritanian leader on Thursday, May 29, Tinubu commended the transparent process that led to the emergence of the former minister.
Tinubu salutes Tah on election as AFDB president
The president spoke after Tah's election at the AfDB's annual meetings in Abidjan, Côte d'Ivoire, on Thursday.
President Tinubu believed that Dr Tah would bring a wealth of experience to the role, given his track record in former positions.
President Tinubu reaffirmed Nigeria's strong partnership with the AfDB, emphasising its status as the institution's largest shareholder among its member countries, comprising 54 African nations and 27 non-African states.
Source: Getty Images
Tinubu's message was contained in a statement signed by Bayo Onanuga, Special Adviser to the President on Information & Strategy, Thursday, May 29, 2025.
Tah will succeed Dr Akinwumi Adesina of Nigeria, who will step down in September 2025 after completing two five-year terms.
"The President restated his commitment to working closely with the incoming AfDB president to advance shared priorities, including infrastructure development, agricultural transformation, energy access, and climate resilience," the statement noted.
President Tinubu pledged Nigeria's full support for Mr. Tah in implementing his vision for the institution, including strengthening regional financial institutions, promoting Africa's economic independence, leveraging population growth for development, and building climate-resilient infrastructure.
President Tinubu thanked the outgoing President, Dr Adesina, and wished him success in his future endeavours.
FG commits $500m to AfDB fund
Meanwhile, Nigeria recently approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF) in May 2025, extending the fund's operations by another 15 years.
Established in 1976, the NTF is a special AfDB fund fully financed by Nigeria to support development projects across Africa.
"This renewed commitment underscores Nigeria's continued dedication to the Bank's mission of driving inclusive growth and poverty reduction on the continent," the statement added.
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Who is Sidi Ould Tah, AfDB president-elect
Earlier, Legit.ng reported that Akinwumi Adesina will step down as president of AfDB after ten years, leaving a legacy focused on lighting up, feeding, industrialising, integrating Africa, and improving quality of life.
He will be succeeded by Sidi Ould Tah of Mauritania, who brings over 35 years of experience in African and international finance and will start his five-year term on 1 September 2025.
The AfDB Group consists of the Nigeria Trust Fund, the African Development Bank, and the African Development Fund, with 54 African and regional members and 27 non-African members.
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Source: Legit.ng
