President Bola Tinubu congratulated President Mohamed Ghazouani of Mauritania on Sidi Ould Tah as the ninth president of the African Development Bank (AfDB) Group.
The election took place on Thursday at the AfDB annual meetings in Abidjan, Côte d’Ivoire. Before this, Tah served as Mauritania’s finance minister and led the Arab Bank for Economic Development in Africa (BADEA).
Following Tah’s election, Tinubu praised the transparent election process. The congratulations came during a phone call from Lagos with the Mauritanian president.
According to a presidency statement, “Tah will succeed Dr Akinwumi Adesina of Nigeria, who steps down in September.” Adesina completed two terms, each lasting five years.
President Tinubu expressed confidence in Sidi Ould Tah and his team. He noted Tah’s extensive experience from previous leadership roles.
The statement also highlighted Nigeria’s strong partnership with the AfDB. Noted that Nigeria is the largest shareholder among the Bank’s 54 African and 27 non-African member countries.
Tinubu reaffirmed his commitment to work closely with Sidi Ould Tah. His shared priorities include infrastructure development, agricultural transformation, energy access, and climate resilience.
Speaking further, the presidency revealed that Nigeria approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF) in May 2025. This funding extends the NTF’s operations by 15 years.
The Nigeria Trust Fund was established in 1976. It is a special AfDB fund fully financed by Nigeria. Its purpose is to support development projects across Africa.
In addition, the statement emphasized Nigeria’s ongoing dedication to the Bank’s mission. This mission focuses on inclusive growth and poverty reduction across the continent.
Tinubu pledged Nigeria’s full support for Sidi Ould Tah and his vision. The vision includes strengthening regional financial institutions. It also focuses on promoting Africa’s economic independence. Leveraging Africa’s population growth for development is another key goal. Also, building climate-resilient infrastructure remains a top priority as well.
President Tinubu also appreciated Akinwumi Adesina, the outgoing AfDB president. He wished Adesina success in his future endeavors. The presidency described the transition between the two leaders as smooth and hopeful for Africa’s future.
Sidi Ould Tah is expected to bring new energy to the AfDB. His background in finance and development suits the institution’s goals.
Meanwhile, Nigeria’s commitment to supporting Tah underscores its role as a key partner. The $500 million pledge to the Nigeria Trust Fund strengthens this partnership.
The AfDB’s annual meetings in Abidjan attracted leaders from across Africa. These gatherings are crucial for shaping development policies.
Meanwhile, outgoing AfDB President, Akinwumi Adesina, recently urged African leaders to stop the mass migration of African youths to other continents as they seek better opportunities.
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