President Bola Ahmed Tinubu is urging global development financiers to consider more strategic investments in agriculture, infrastructure, research, and development on the African continent.
Tinubu made the appeal, on Thursday, when he received a delegation of the International Finance Corporation (IFC), led by its Managing Director, Mr. Makhtar Diop.
“The IFC and the World Bank need to see Africa differently. I am glad an African is at the helm of affairs at IFC and, as an African, understands that the potential for growth, peace, stability, and prosperity is here.
“The world has to see us as a continent that can help the rest of the world, and not perceive us as backwards, unstable, and with leadership problems,”said Tinubu.
He told his visitors: “You are at the helm now and in a position to change the perception. We are ready to change the narrative and work with you. Africa is open for business, regardless of whatever the perception may be.
“I am an African and proud to be and will maintain the strong position to collaborate with the rest of the world to see Africa as a destination for growth and prosperity,” the president told the IFC delegation led by the Senegal-born Managing Director.
Acknowledging that Nigeria holds the second largest IFC portfolio in Africa with an active investment portfolio of $2.1 billion as of April 2024, President Tinubu highlighted the importance of some critical infrastructure projects embarked upon by his administration, such as the 700km Lagos-Calabar Coastal Highway and the Sokoto-Badagry Expressway.
We have made various attempts in the past to create dams, but issues with reticulation and irrigation remain.
When we consider the living conditions in rural areas where crops are produced, how much funding is allocated for rural roads to expedite transportation to consumer centres?
In his remarks, Mr. Diop informed the President that during his working visit to Nigeria, the IFC had engaged in productive discussions with Nigerian partners to enhance agriculture, increase food production through irrigation farming, upgrade transport networks and bolster regional integration.