Reported by: Ime Richard Aondofa | Edited by: Henry Owen
In a bold move to strengthen international economic cooperation, Nigeria and the Islamic Development Bank (IsDB) have reaffirmed their partnership during a high-level bilateral meeting held yesterday in Washington D.C. The strategic engagement was led by Dr. Doris Uzoka-Anite, Honourable Minister of State for Finance, underscoring Nigeria’s ongoing commitment to driving sustainable economic growth under the Renewed Hope Agenda of President Bola Ahmed Tinubu’s Administration.
The meeting, attended by a distinguished IsDB delegation, provided a platform for both parties to review ongoing collaborations and identify new areas of mutual interest aimed at boosting Nigeria’s economic resilience. Discussions centered on expanding Sukuk financing, Sharia-compliant financing, and innovative financial instruments designed to enhance fiscal inclusion and support national development priorities.
Building on a history of successful collaboration, Nigeria and the IsDB highlighted existing partnerships in agriculture, renewable energy, infrastructure, education, and healthcare. Both sides also expressed interest in exploring new opportunities in special agro-industrial processing zones and halal economy development, with a focus on creating employment, reducing poverty, and promoting inclusive growth across Nigeria.
Speaking after the meeting, Dr. Uzoka-Anite emphasized the importance of the engagement, noting that it reflects the strength of Nigeria’s relationship with the IsDB.
“This meeting underscores the strong bond between Nigeria and the IsDB. Under the Renewed Hope Agenda, President Bola Ahmed Tinubu’s Administration remains committed to repositioning our economy and driving infrastructure development. We appreciate IsDB’s continued support and look forward to leveraging their expertise to accelerate our economic growth and development initiatives,” she stated.
The talks mark a significant milestone in Nigeria’s proactive effort to deepen its collaboration with global development partners. The partnership with the IsDB is expected to enhance access to development financing, promote industrial growth, and facilitate long-term sustainability in key sectors of the economy.
As Nigeria navigates evolving global economic dynamics, alliances with institutions such as the IsDB will continue to play a pivotal role in shaping the nation’s development trajectory, fostering stability, and improving the livelihoods of millions of Nigerians.
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