Nigeria’s Minister of Finance, Wale Edun, has called on the Islamic Development Bank (IsDB) to prioritize sustainable investments and innovation in critical sectors, including energy, infrastructure, agriculture, and railway development.
The appeal was made during the IsDB Governors’ Retreat in Al-Madinah, Saudi Arabia, aimed at shaping the bank’s 10-year strategy for 2026–2035.
Speaking at the retreat, Edun emphasized the need for transformative, high-impact investments that promote growth while maintaining minimal debt.
He advocated for innovative financing models and bold reforms to ensure that development efforts are both sustainable and impactful.
“The Honourable Minister of Finance, Mr. Wale Edun, advocated for innovative financing and bold reforms at the Islamic Development Bank (IsDB) Governors’ Retreat in Al-Madinah, Saudi Arabia. Emphasizing transformative, high-impact investments in infrastructure, agriculture, rail, and energy,” a statement from the Presidency’s official X page noted.
Edun also called on the IsDB to rethink its financing approach and implement robust monitoring systems to ensure long-term sustainability and effective utilization of resources. His remarks underscored Nigeria’s commitment to fostering sustainable growth and enhancing the bank’s role in advancing development across member states.
The Governors’ Retreat, a key platform for strategic dialogue, focused on addressing global development challenges and aligning the bank’s objectives with the needs of its member countries. The discussions are expected to shape the IsDB’s agenda for the next decade, with a strong emphasis on innovation, sustainability, and inclusive growth.
As one of the largest multilateral development institutions, the IsDB plays a crucial role in funding and supporting development projects across its member states. Edun’s contributions highlighted Nigeria’s proactive stance on sustainable development and the importance of aligning financial strategies with long-term economic and social goals.
