IFC to send team to Nigeria for investments in housing, livestock, energy

THE International Finance Corporation (IFC) says it will deploy a mission to Nigeria to explore large-scale investment opportunities in housing, energy, and livestock, as part of efforts to attract more private capital into key sectors of the economy.

According to a statement issued on Thursday by presidential spokesman Bayo Onanuga, the disclosure was made in Kigali during a meeting between IFC executives and President Bola Tinubu on the sidelines of the 13th Africa CEO Summit.

The IFC delegation was led by Managing Director of the corporation, Diop Makhtar, and included IFC Regional Vice President for Africa, Ethiopis Tafara, as well as Director for Central Africa and Nigeria, Dahlia Khalifa.

Makhtar said the institution was seeking collaboration with Nigeria in strategic sectors including energy, housing development, and livestock production, noting that the corporation intended to examine scalable financing structures capable of unlocking private investment.

READ ALSO: Tantalizers secures N2bn equity investment for entertainment subsidiary

He praised the Tinubu administration for implementing difficult economic reforms, particularly the removal of fuel subsidies and the unification of the foreign exchange market.

Describing the reforms as bold and transformational, Makhtar said they had sent a positive signal to global investors regarding Nigeria’s willingness to undertake necessary economic restructuring.

“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,” Makhtar stated during the meeting.

President Tinubu, in his remarks, reiterated Nigeria’s readiness to work with private investors to strengthen institutions and accelerate economic development.

The president said African pension funds must evolve beyond traditional investment models and become strategic development finance vehicles capable of supporting infrastructure and productive-sector investments.

He also urged African governments and private sector players to intensify efforts toward mobilising institutional capital within the continent to finance infrastructure, energy transition, and long-term economic growth.

According to Tinubu, such efforts were critical to addressing Africa’s socio-economic challenges and achieving sustainable development across the continent.

The president further emphasised the importance of decentralising energy systems and strengthening transmission infrastructure to attract more private-sector participation and deepen regional integration.

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

Discussions at the meeting also focused on the use of institutional investors, local currency financing arrangements, and swap mechanisms to improve infrastructure financing across Africa.

READ ALSO: Nigerian govt, AFC seal $1.3bn mining investment pact

Makhtar noted that local currency funding structures and partnerships involving financial institutions such as Access Bank Plc could support regional financial integration, facilitate trade, and boost business activities across African markets.

He added that African leaders must work together to tackle shared development problems and drive what he described as an ‘African Renaissance’ anchored on strong continental institutions and regional economic champions.