{"id":118404,"date":"2025-05-06T15:53:18","date_gmt":"2025-05-06T14:53:18","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=118404"},"modified":"2025-05-06T15:53:18","modified_gmt":"2025-05-06T14:53:18","slug":"nigeria-subscribes-5m-to-join-asian-bank","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-subscribes-5m-to-join-asian-bank\/","title":{"rendered":"Nigeria Subscribes $5m to Join Asian Bank"},"content":{"rendered":"<div>Daniel Adaji<\/div>\n<div><\/div>\n<div>Nigeria has subscribed $5m to become a full member of the Asian Infrastructure Investment Bank (AIIB), following approval by the Federal Executive Council (FEC) during its meeting in Abuja on Monday.<\/div>\n<div><\/div>\n<div>The subscription covers 50 shares at $100,000 each, formalizing Nigeria\u2019s entry into the multilateral development bank. With this move, Nigeria gains access to funding for critical infrastructure projects and positions itself to benefit from global development partnerships.<\/div>\n<div><\/div>\n<div>\u201cWe\u2019ve concluded that process now, and we are fully fledged members of the Asian Infrastructure Investment Bank, which is set up to promote infrastructure development and generally sustained economic growth in all its members,\u201d said Wale Edun, Minister of Finance and Coordinating Minister of the Economy.<\/div>\n<div><\/div>\n<div>Edun presented the membership memorandum to the FEC, highlighting the economic advantages of joining the bank, which supports sustainable infrastructure expansion across member countries\u2014including non-regional members like Nigeria.<\/div>\n<div><\/div>\n<div>Speaking at the State House in Abuja, Edun emphasised that Nigeria\u2019s membership aligns with the government\u2019s commitment to long-term development and economic growth.<\/div>\n<div><\/div>\n<div>\u201cIt is the resilience that has been created by the macroeconomic reforms that stabilized the economy that has allowed us to cope with the recent introduction of reciprocal tariffs in America and the turbulence that has caused,\u201d he added.<\/div>\n<div><\/div>\n<div>The minister also referenced the recent World Bank\/IMF Spring Meetings in Washington, D.C., where international institutions acknowledged Nigeria\u2019s macroeconomic reforms under President Bola Tinubu\u2019s administration.<\/div>\n<div><\/div>\n<div>The International Monetary Fund (IMF), through its Article IV Consultation, praised Nigeria&#8217;s stability despite external shocks.<\/div>\n<div><\/div>\n<div>In a further vote of confidence, Fitch Ratings recently upgraded Nigeria\u2019s credit outlook from B- to B, citing stronger fiscal management and positive growth projections.<\/div>\n<div><\/div>\n<div>With AIIB membership secured, Nigeria is expected to strengthen its infrastructure base, attract global investment, and reinforce international confidence in its reform agenda.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Daniel Adaji Nigeria has subscribed $5m to become a full member of the Asian Infrastructure Investment Bank (AIIB), following approval by the Federal Executive Council (FEC) during its meeting in&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":118405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-118404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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