Nigeria’s President Bola Tinubu has extended his congratulations to President Mohamed Ghazouani of Mauritania following the election of Sidi Ould Tah as the ninth president of the African Development Bank (AfDB) Group.
Tah’s election took place on Thursday during the AfDB’s annual meetings in Abidjan, Côte d’Ivoire. A respected economist and former Mauritanian finance minister, Tah also previously served as Director-General of the Arab Bank for Economic Development in Africa (BADEA).
In a statement released after the election, the Nigerian presidency revealed that Tinubu spoke directly with Ghazouani from Lagos, applauding the transparent electoral process that produced Tah’s victory.
“Tah will succeed Dr Akinwumi Adesina of Nigeria, who completes his second five-year term in September,” the statement read. “President Tinubu expressed confidence that Tah’s experience would be invaluable in steering the bank towards its ambitious development goals.”
Nigeria’s leadership reaffirmed its commitment to supporting the AfDB’s agenda, highlighting the country’s status as the bank’s largest African shareholder among its 54 African and 27 non-African member states.
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As a tangible demonstration of this commitment, the Federal Government of Nigeria has recently approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF). This fund, established in 1976 and wholly financed by Nigeria, supports development initiatives across the continent. With this replenishment, the NTF’s operations will continue for an additional 15 years, bolstering the bank’s capacity to drive inclusive growth and poverty reduction.
President Tinubu also pledged to work closely with Tah to deliver on key development priorities such as infrastructure expansion, agricultural modernisation, energy access, and climate resilience.
“President Tinubu underscored the importance of strengthening regional financial institutions and building economic resilience,” the statement noted. “He pledged Nigeria’s full support for the AfDB’s mission under Tah’s leadership.”
In a nod to the outgoing AfDB president, Akinwumi Adesina, Tinubu commended his tenure and wished him success in his future pursuits.
As Tah prepares to assume his new role, expectations are high that his leadership will help chart a new path for African economies amid global challenges.
