Tinubu congratulates new AfDB president

President Bola Tinubu has congratulated President Mohamed Ould Cheikh El Ghazouani of Mauritania on the election of Dr. Sidi Ould Tah as the Ninth President of the African Development Bank (AfDB) Group.

Dr. Tah, a former Mauritanian Finance Minister and current Director General of the Arab Bank for Economic Development in Africa (BADEA), was elected during the AfDB Annual Meetings held in Abidjan, Côte d’Ivoire.

In a telephone call from Lagos, President Tinubu commended the transparent and credible process that led to Dr. Tah’s emergence, describing it as a testament to the integrity of the institution.

Dr. Tah is set to succeed Nigeria’s Dr. Akinwumi Adesina, who will conclude his decade-long tenure in September after serving two consecutive five-year terms.

A statement issued by Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, noted that President Tinubu expressed confidence in Dr. Tah’s ability to lead the Bank effectively, citing his impressive record in previous roles.

President Tinubu also reaffirmed Nigeria’s longstanding and strategic partnership with the AfDB, highlighting the country’s role as the institution’s largest shareholder among its 81 member nations — comprising 54 African and 27 non-African states.

The President emphasized his readiness to collaborate with the incoming AfDB leadership on key development priorities, including infrastructure expansion, agricultural transformation, energy access, and climate resilience.

The statement further noted Nigeria’s recent approval of a $500 million capital replenishment for the Nigeria Trust Fund (NTF), extending its operations for another 15 years. Established in 1976 and solely financed by Nigeria, the NTF supports development initiatives across the continent.

President Tinubu pledged Nigeria’s full backing for Dr. Tah’s vision, which includes strengthening regional financial institutions, promoting Africa’s economic self-reliance, leveraging population growth for development, and investing in climate-resilient infrastructure.

He also expressed deep appreciation to the outgoing AfDB President, Dr. Adesina, and wished him success in his future endeavours.