The Islamic Development Bank has begun exploratory moves toward a potential investment in Nigeria following a fact-finding visit to NIRSAL Plc, aimed at better understanding the country’s MSME landscape within the agricultural sector. The visit was conducted through the Federal Ministry of Finance, the official channel for bilateral investments, and forms part of ongoing institutional consultations.
Recently, NIRSAL Plc hosted a delegation from the Islamic Development Bank on a broad fact-finding mission ahead of a possible MSME investment in Nigeria. The delegation was led by the Federal Ministry of Finance and engaged NIRSAL on its expertise in finance facilitation, risk management, and value chain development within agriculture, an area critical to Nigeria’s economy.
During the engagement, the delegation, led by Mohamed Maher Mannai, explained that the IsDB’s MSME investments are anchored on “economic inclusion,” with emphasis on end-user prioritisation, multi-stakeholder collaboration, and sustainable access to finance and markets. The team noted that these principles guide its support for small businesses and productive sectors across member countries.
Operating across 57 member countries, the IsDB counts Nigeria among its largest partners, reflecting a long-standing relationship and shared commitment to impactful development outcomes. The delegation stated that its interest in Nigeria, particularly in agriculture, remains strong due to the sector’s potential to drive inclusive growth and job creation.
While receiving the team, Mr. Ewaen Imohe, Executive Director, Operations at NIRSAL Plc, expressed appreciation to the IsDB and the Federal Ministry of Finance for facilitating the meeting and including NIRSAL Plc in consultations. He said the engagement supports assessments ahead of possible MSME-focused investments to improve access to finance and market development in Nigeria.
