By MUHYIDEEN JIMOH

The International Finance Corporation (IFC) has announced an immediate mission to Nigeria, targeting investment structures that can unlock private capital for strategic sectors.

Managing Director, Diop Makhtar, disclosed the plan on Thursday during talks with President Bola Tinubu at the Africa CEO Forum.

The high level engagement took place in Kigali, Rwanda, where economic cooperation and continental investment priorities dominated discussions.

Presidential spokesperson, Mr Bayo Onanuga, confirmed the development in a statement issued after the meeting.

Makhtar led an IFC delegation comprising regional executives focused on expanding partnerships across Africa.

The delegation included Ethiopis Tafara and Dahlia Khalifa, both senior officials overseeing strategic operations.

Makhtar said the corporation sought practical collaboration in energy, housing, agriculture, and livestock development.

He praised Tinubu for reforms, especially fuel subsidy removal and foreign exchange market harmonisation.

He said, “President Tinubu showed courage by confronting difficult choices and sending investors a powerful message.”

According to him, Nigeria’s reforms demonstrated political will and strengthened international confidence.

Tinubu reaffirmed Nigeria’s readiness to attract private capital for long term institutional transformation.

He said African pension funds should become development instruments supporting infrastructure and productive sectors.

Tinubu said, “Africa must mobilise its own capital if development ambitions are to succeed.”

He stressed that infrastructure financing remained central to economic growth across the continent.

The President also highlighted decentralised energy systems and stronger electricity transmission networks.

He said, “If Africa must leap forward, power transmission and decentralisation cannot be ignored.”

Discussions also examined institutional investors, local currency financing, and cross border swap arrangements.

Makhtar noted banking partnerships involving Access Bank could deepen regional financial integration and trade.

He called for an African Renaissance driven by resilient institutions and homegrown economic champions. (NAN)

• The International Finance Corporation