President Bola Tinubu has hailed the election of  Sidi Tah as the ninth president of the African Development Bank (AfDB) Group.

Mr Tinubu congratulated President Mohamed El Ghazouani of Mauritania following Mr Tah’s election at the AfDB’s annual meetings in Abidjan, Côte d’Ivoire, in a telephone conversation on Thursday.

Bayo Onanuga, special adviser to Mr Tinubu on information and strategy, said this in a statement.

Mr Tinubu commended the transparent process that led to the emergence of the former Mauritanian finance minister and director general of the Arab Bank for Economic Development in Africa (BADEA).

Mr Tah will succeed Akinwumi Adesina of Nigeria, who will step down in September after completing two five-year terms.

Mr Tinubu expressed confidence that Mr Tah would bring a wealth of experience to the role, given his proven track record in previous positions.

He reaffirmed Nigeria’s strong partnership with the AfDB, emphasising the country’s status as the institution’s largest shareholder among its member countries, which comprised 54 African nations and 27 non-African states.

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.

“Nigeria recently approved a 500 million dollars 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.”

Mr 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.

Mr Tinubu also thanked the outgoing Mr Adesina and wished him success in his future endeavours.

(NAN)