Nigeria’s Finance and Coordinating Minister of the Economy, Taiwo Oyedele, met African Development Bank President Sidi Ould Tah on 12 October during the IMF and World Bank Group Annual Meetings in Bangkok. Nigeria’s Federal Ministry of Information said the two sides agreed to a joint technical review of the Bank’s portfolio in Nigeria and to prepare an official visit to the country by the AfDB president.

The government said the review is intended to identify implementation bottlenecks, accelerate project delivery and align ongoing operations with federal development priorities. No date was announced for the proposed visit. Oyedele also said Nigeria intends to remain the Bank’s largest shareholder and meet its capital subscription obligations; the release gave no payment schedule or new financing amount.

The meeting also covered borrowing costs and sovereign credit ratings. Ould Tah said the AfDB is developing a facility to provide governments with technical and analytical support in their engagement with credit-rating agencies. The sides also discussed African financial integration, local-currency transactions, trade insurance and credit enhancement. The announcement disclosed no new project loan or approved funding; the next steps are technical work on the portfolio review and preparations for the proposed visit.