Nigeria’s drive to unlock private capital for transformative infrastructure projects received a major boost on Monday as the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) reaffirmed its support for the country’s economic agenda during a high-level meeting with the Minister of Finance, Mr. Wale Edun, in Abuja.
Leading the ICIEC delegation was its Director of Legal Affairs, Mr. Hassan Idris, who assured the Nigerian government of the institution’s readiness to provide credit and political risk guarantees that can attract both domestic and foreign investment into key sectors.
Speaking after the meeting, Minister Edun stressed the need to leverage risk-mitigation instruments to drive private investment in energy, transport, and housing — sectors central to President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“We value ICIEC’s ongoing support, especially in initiatives that directly improve productivity and expand economic opportunities,” Edun said. “By backing commercially viable and socially impactful projects, ICIEC is helping to build an inclusive and resilient economy where the private sector becomes a key engine of job creation and innovation.”
ICIEC’s intervention is seen as pivotal in a climate where public resources are stretched, and the need for scalable, bankable infrastructure solutions has never been more urgent. Mr. Idris noted that the organization remains committed to de-risking high-impact investments to unlock capital flows and support private sector-led growth.
“We are aligning our tools with Nigeria’s development priorities and are fully prepared to support projects that deliver measurable results and long-term economic value,” he said.
The visit underscores deepening cooperation between Nigeria and the Islamic Development Bank Group, of which ICIEC is a member, and signals a renewed momentum toward financing solutions that address both economic and social infrastructure gaps.