FG, IsDB Partner to Drive $1tn Economic Target
The Federal Government and the Islamic Development Bank Group have stepped up efforts to attract investments aimed at driving the country’s ambitious plan to achieve a $1tn economy by 2030.
The high-level engagement, held on Monday in Lagos, brought together government officials, private sector leaders, financial institutions, development partners, and international stakeholders to explore strategic partnerships and investment opportunities.
The event, known as IsDB Group Day in Nigeria, highlighted the critical role of private sector-led growth in addressing key development challenges, including infrastructure deficits, youth and women unemployment, limited access to finance for small and medium-sized enterprises, and Nigeria’s transition toward a more diversified and sustainable economy.
In his keynote address, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, underscored the country’s focus on growth acceleration and investment mobilisation.
“As Nigeria transitions from economic stabilisation to robust expansion, our journey toward a $1tn economy requires ‘capital with purpose’—investments that bridge financial stability and tangible social outcomes,” Edun said.
“Through our strategic partnership with the Islamic Development Bank and the implementation of the Country Engagement Framework 2026-2028, we are modernising infrastructure, industrialising agribusiness, and bringing 10 million Nigerians into productive economic activity.”
The bank highlighted the new Country Engagement Framework as a blueprint for coordinated, federal-scale solutions. It emphasised that the partnership aims to accelerate integrated, transformative initiatives that strengthen national resilience and competitive industrialisation.
Panel discussions during the forum explored Nigeria’s development priorities and the role of the IsDB Group in forging practical avenues of cooperation. Participants focused on expanding access to finance for SMEs, promoting public–private partnerships, investing in renewable energy and green infrastructure, and enhancing human capital to unlock opportunities for youth and women.
A series of bilateral meetings was also conducted among IsDB Group representatives, business leaders, investors, and financial institutions, providing a platform to explore investment collaborations and share success stories of projects implemented in partnership with local entrepreneurs and institutions.
The event showcased the broad capabilities of IsDB Group institutions, including the Islamic Corporation for the Insurance of Investment and Export Credit, the Islamic Corporation for the Development of the Private Sector, the International Islamic Trade Finance Corporation, the IsDB Institute, and the IsDB Business Forum.
The day concluded with a reaffirmation of IsDB Group’s commitment to continued cooperation with the Nigerian government and private sector. Both parties pledged to expand investment opportunities, strengthen strategic partnerships, and contribute to sustainable, inclusive development, positioning Nigeria as a leading investment destination in Africa.