…As Edo State is set to benefit from W/Bank’s $50bn Africa-focused investment pipeline 2025–2026 project
By Dele Ogbodo
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Wednesday delivered Nigeria’s statement at the G-24 Ministerial Meeting on the sidelines of the 2025 IMF World Bank Spring Meetings in Washington D.C.
The Minister called on the IMF and World Bank to reward reform-minded economies, particularly those in Sub-Saharan Africa, by expanding access to affordable financing and deploying more innovative instruments to support their transitions.
This is coming as the Governor of Edo State, Senator Monday Okpehbolo, said the state is positioning itself to benefit from the World Bank’s $50 billion Africa-focused investment pipeline scheduled for 2025–2026.
In the Minister’s capacity as First Vice-Chair of the G-24, the Minister underscored President Bola Tinubu’s strong commitment to structural reforms, including fuel subsidy removal, foreign exchange unification, and comprehensive tax policy reforms.
He emphasised the administration’s focus on restoring macroeconomic stability and building a more resilient, inclusive economeconomy.
The Director, Information and Public Relations Mohammed Manga, in a statement on behalf of the Minister, said Edun, also welcomed the IMF’s recent establishment of a third Sub-Saharan Africa Chair and advocated for increased African representation at senior management levels within the Bretton Woods institutions, adding that Nigeria is open for business.
The Minister, however, added that for reforms to deliver their full impact, explaining…we need the international community to match our ambition with strong, targeted support.
Meanwhile, the Governor of Edo State, Senator Monday Okpebholo, has bodly reaffirmed it’s developmental agenda through its 3man strong team at the auspicious event in US.
In a statement, made available to the media, the Chief Press Secretary to the Governor, Fred Itua, further explained that the governor’s approach marks a significant shift from past models of development financing.
“Unlike past approaches reliant on debt financing,” Itua noted, “the governor’s strategy emphasizes long-term partnerships and direct capital investment aimed at strengthening the state’s fiscal sustainability.”
Leading the charge therefore in Washington is a three-man delegation composed of the Commissioner for Finance, Emmanuel Okoebor; policy economist and head of Policy House International, Taiwo Akerele; and the Special Adviser on Finance, Investment and Revenue Generation, Kizito Okpebholo.
The team is presenting a portfolio of investment-ready projects cutting across mining, oil and gas, agro-processing, housing, and support for small and medium enterprises.
As part of its engagements, the Edo State Government is co-hosting the first Multi-Sector Global Partnership Summit in collaboration with ReadyToLead Africa and Policy House International.
“The summit seeks to forge meaningful investment connections that go beyond rhetoric, offering a transparent display of Edo’s developmental achievements and future plans.” Itua added.
Edo State is also positioning itself to benefit from the World Bank’s $50 billion Africa-focused investment pipeline scheduled for 2025–2026.
Through mechanisms such as Investment Project Financing (IPF), Multilateral Investment Guarantees (MIG), and Technical Assistance (TA), the government aims to attract funding for public-private infrastructure ventures, academic exchange programs with Ambrose Alli University, social protection initiatives, and housing development.
This renewed international engagement reflects Edo’s longstanding relationship with global financial institutions.
The state previously benefitted from World Bank – backed budget support instruments under previous administration’s, however Governor Okpebholo’s administration, is charting a new path—prioritizing equity-based partnerships over credit-heavy solutions.
“This is a bold shift in economic diplomacy,” Itua said. “Edo State is now focused on building—not borrowing. The emphasis is on attracting investments that translate to jobs, innovation, and inclusive growth.”
As the world recalibrates in the face of shifting global trade dynamics, Okpebholo, is positioning Edo to take full advantage of global capital flows—ensuring that development is driven by tangible results and a clear focus on improving the lives of the people.
