President Tinubu Congratulates Dr Sidi Ould Tah on Election as AfDB President

Strategic Insights -

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 Director General of the Arab Bank for Economic Development in Africa (BADEA), was elected after a transparent process at the AfDB's Annual Meetings in Abidjan, Cote d'Ivoire. Tinubu believes that Dr Tah's wealth of experience in former positions makes him an ideal candidate for the role. The president reaffirmed Nigeria's strong partnership with the AfDB, emphasizing its status as the institution's largest shareholder among its member countries.

Key Takeaways:

  • President Bola Tinubu congratulated Dr Sidi Ould Tah on his election as the ninth President of the African Development Bank (AfDB) Group, citing a transparent process and the candidate's wealth of experience.
  • Dr Tah is a former Mauritanian Finance Minister and Director General of the Arab Bank for Economic Development in Africa (BADEA).
  • Tinubu believes that Dr Tah's track record in former positions makes him an ideal candidate for the role of AfDB President.
  • Dr Akinwumi Adesina, the outgoing AfDB President, will step down in September after completing two five-year terms.
  • Nigeria has a strong partnership with the AfDB, being the institution's largest shareholder among its member countries.
  • Nigeria recently approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF) in May 2025, extending the fund's operations by another 15 years.
  • The NTF is a special AfDB fund fully financed by Nigeria to support development projects across Africa.
  • Tinubu pledged Nigeria's full support for Mr Tah in implementing his vision for the institution, including strengthening regional financial institutions.

Statistics:

  • Nigeria is the AfDB's largest shareholder among its member countries.
  • Dr Akinwumi Adesina, the outgoing AfDB President, has completed two five-year terms and will step down in September.
  • Nigeria Trust Fund (NTF) has been approved for a $500 million capital replenishment in May 2025.
  • The NTF was established in 1976.
  • The NTF is set to operate for another 15 years due to the capital replenishment.

Sources:

  • Presidential spokesman, Bayo Onanuga, in a statement said President Tinubu, in a telephone conversation from Lagos with the Mauritanian leader on Thursday afternoon, after Tah's election at the AfDB's Annual Meetings in Abidjan, Cote d'Ivoire, commended the transparent process that led to the emergence of the former Mauritanian Finance Minister.