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The Islamic Development Bank is planning to make Nigeria its regional operational hub in Africa. The move is part of efforts aimed at improving its efficiency and performance in its operations, as well as financing key projects on the continent.
The President, IDB, Dr. Bandar Hajjar, disclosed this at the opening ceremony of the 42nd meeting of the bank.
The Nigerian delegation to the meeting was led by the Permanent Secretary, Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse. Hajjar said the move to make Nigeria a regional hub was part of a five-year reform package, which would see the bank decentralise its operations.
He stated that while financing infrastructure projects such as energy, water, universities, ports and airports was part of the new focus of the bank, the reform would vigorously “seek new partners and transform competitors into development partners.”
