Nigeria has officially secured full membership in the Asian Infrastructure Investment Bank (AIIB), marking a major milestone in its pursuit of international investment partnerships and economic expansion.
This development follows formal approval by the Federal Executive Council (FEC) in Abuja and elevates Nigeria from its previous prospective status, which it held since 2021. With this accession, Nigeria becomes the 19th African country to gain full membership in the AIIB, a multilateral development bank focused on supporting sustainable infrastructure projects globally.
Minister of Finance, Wale Edun, emphasized the importance of this achievement during the Federal Executive Council meeting, stating, “We’ve 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.”
He highlighted that despite the AIIB being headquartered in Asia, its doors are open to non-regional members who share its mission of sustainable infrastructure growth.
Nigeria’s path to full membership involved completing the necessary legal, administrative, and financial requirements, including an initial commitment of 50 subscribed shares valued at $100,000 each, totaling $5 million.
This strategic move positions Nigeria to diversify its sources of development financing, particularly as the United States winds down its contributions to the African Development Fund (ADF), a key component of the African Development Bank.
The AIIB, which has a $100 billion capital base, offers Nigeria access to global infrastructure financing with less dependence on Western political fluctuations.
China holds the largest voting share at 26.58%, followed by India at 7.59%, Russia at 5.97%, Germany at 4.15%, South Korea at 3.49%, and Australia at 3.45%. As the U.S. steps back from certain African funding commitments, China’s influence on the continent through institutions like the AIIB continues to expand.
Nigeria’s membership is expected to unlock significant opportunities for financing critical infrastructure projects and to accelerate economic transformation across sectors, reinforcing its position as one of Africa’s largest and most influential economies.
As of today, the Asian Infrastructure Investment Bank has 22 approved African member countries, with 19 holding full membership and 3 still designated as prospective members. The 19 full members and their membership dates are as follows:
— 1 Algeria — membership date: December 27, 2019
— 2 Benin — membership date: May 25, 2020
— 3 Côte d’Ivoire — membership date: February 26, 2020
— 4 Djibouti — membership date: September 5, 2024
— 5 Egypt — membership date: August 4, 2016
— 6 Ethiopia — membership date: May 13, 2017
— 7 Ghana — membership date: February 21, 2020
— 8 Guinea — membership date: July 12, 2019
— 9 Kenya — membership date: September 4, 2024
— 10 Liberia — membership date: January 4, 2021
— 11 Libya — membership date: September 12, 2023
— 12 Madagascar — membership date: June 25, 2018
— 13 Morocco — membership date: May 4, 2022
— 14 Rwanda — membership date: April 16, 2020
— 15 South Africa — membership date: November 24, 2023
— 16 Sudan — membership date: September 13, 2018
— 17 Togo — membership date: December 19, 2023
— 18 Tunisia — membership date: April 29, 2022
— 19 Nigeria — membership date: 2025
The three African countries listed as prospective members, with their membership status currently pending, are:
— 20 Tanzania — membership date: Pending
— 21 Senegal — membership date: Pending
— 22 Mauritania — membership date: Pending
