The International Finance Corporation (IFC) says it plans to explore scalable investment structures in Nigeria’s energy, livestock and housing sectors to unlock private capital.

Makhtar Diop, the managing director of the IFC, announced the development in Kigali, Rwanda, on Thursday, during a meeting with President Bola Tinubu on the sidelines of the 13th Africa CEO Summit.

Mr Diop said the IFC is interested in discussing modalities for collaboration with Nigeria in energy, housing, and livestock production.

He lauded Mr Tinubu for the bold reforms initiated by his administration, especially the removal of the fuel subsidy and the harmonisation of the nation’s exchange rate.

He also described Nigeria’s reform process as courageous and transformative, sending a strong signal to international investors about the country’s commitment to difficult but necessary reforms.

“President Tinubu, you have been so courageous in removing the subsidy. When you did it, I said to myself, President Tinubu took the bull by the horns,“ Mr Diop said.

Details of the meeting were revealed in a statement posted on the State House’s website on Thursday.

The meeting discussed mechanisms for leveraging institutional investors, local-currency financing structures, and swap arrangements to deepen infrastructure funding.

Mr Diop said local currency facilities and banking partnerships, including structures involving Nigerian financial institutions such as Access Bank, could strengthen efforts towards interstate financial integration, ease trade, and enhance business across the continent.

He noted that African leaders faced common development challenges and must collectively drive what he described as  “African Renaissance”, built around strong African institutions and regional economic champions.

During the meeting, Mr Tinubu reaffirmed Nigeria’s openness to harnessing private capital for institutional development.

The president stated that it has become imperative for African pension funds to evolve into strategic development finance instruments capable of supporting major infrastructure and productive-sector investments.

He also called on African leaders and the private sector to focus on mobilising African institutional capital to finance infrastructure, the energy transition, and long-term economic transformation across the continent.

He noted that the continent must also focus on decentralising energy systems and transmission infrastructure to attract private-sector investment, including strengthening regional interconnectivity and transmission lines as part of Africa’s long-term industrialisation agenda.

“If you want Africa to leapfrog, then energy transmission and decentralisation are important. The funding gap is there, and we must work together,” Mr Tinubu said.