Nigeria and other African countries are set to benefit from a $50 billion investment support facilitated by the Islamic Development Bank (IDB) through the Arab Coordination Group (ACG).

The announcement was made at the Saudi-Arab-African Economic Summit held in Saudi Arabia. The IDB Vice President, Dr. Mansur Muhtar, assured Nigeria that it would receive a significant share of the fund.

Nigerian President Bola Ahmed Tinubu emphasized the need for IDB support in infrastructure development during a meeting in Mecca, citing opportunities in port infrastructure, power, and agro-allied facilities.