Under the Patronage of the H.E. Goodluck Jonathan GCFR, President of the Federal Republic of Nigeria, H E Hajj Mohamed Namadi Sambo, Vice President of the Federal Republic of Nigeria, opened in Abuja a two day "IDB Group-Nigeria Business Forum" in cooperation with the Federal Ministry of Finance of Nigeria and the Nigerian National Investment Promotion Commission (NIPC).

During the opening ceremony, IDB and the Government of the Federal Republic of Nigeria, signed US$ 98 million agreement to support bilingual ( Arabic/English ) education in Nigeria. In his opening speech Dr. Ahmad Mohamed Ali, IDB Group President said that the USD 98 million support would help bridge the gap between formal and informal education in Nigeria, within the Bilingual education programme. He said also that it will support the government policy to integrate and modernise Almajarai and
Tsangaya Schools(Qura’ani Schools) in Nigeria. The agreement was signed by HE Dr. Yerima La wan Jama, Minister of Finance in Nigeria, and Dr. Ahmad Mohamed Ali.
In his opening speech, the Vice President of Nigeria, Namadi Sambo, noted that the country had to reach out to institutions that could assist it to achieve its transformation agenda, He said “In our quest for development, it has become imperative to spread our reach, collaborate and strategise with our development partners around the world and particularly with the Islamic Development Bank Group”. He called for all investors of member countries in IDB to invest in Nigeria, stressing durability
of the economic situation in his country and that the expectation was to achieve Nigeria's growth rate of about 8% by the end of this year, He praised the decision of the IDB Group to open a representative office in Nigeria , and urged the Bank Group to hold other similar forums to include Lagos and other cities and states in Nigeria.

In his speech, the President of IDB Group pointed out that Nigeria is a major shareholder in the IDB's capital, as it contributes 7.7% of the subscribed capital, since joining IDB in June 2005, According to that, Nigeria is represented by a permanent member on the Board of Executive Directors of the Bank, Nigeria also has joined all the institutions of the IDB Group: ICIEC, ICD, and ITFC. He also stated that today’s Forum in Abuja ensure the full commitment of the Bank Group to promote fruitful
cooperation with Nigeria, and its support for development efforts in Nigeria. He added that the total funding approved by the Bank Group for Nigeria up to date amounted to US$ 470 million.

He pointed at the Bank's contribution in supporting Nigeria's efforts to achieve food security through the Technical Cooperation Programme of the Bank which will help to promote the exchange of experiences between IDB Member Countries. He cited the recent Indonesian technology transfer experience between Nigeria and Indonesia in water resources management and irrigation projects. He also stressed that the IDB intends to strengthen integration and communication between member countries. In this
context the Bank has contributed in the financing of several road projects across the Sahara connecting Tunisia, North Africa, with Lagos in Nigeria through Mali and Niger, He recalled that the areas of cooperation between Nigeria and the Bank Group are many and promising, and that it looks forward to contributing in the large infrastructure projects in Nigeria to build dams, roads, railways and other important projects.
The IDB President gave a brief on the objectives and activities of the IDB Group, which are all in accordance with the principles and provisions of the Shari'a. He added that the Bank Group also cooperates with all entities of the United Nations, to promote development in its 56 Member Countries. The Bank also supports development efforts of Muslim communities in non-Member Countries by providing grants and aid in the sectors of education, health, and vocational training.

The opening ceremony was attended by State Governors in Nigeria and the Ministers of Economy, Trade, and Finance in the government, the diplomatic corps accredited in Abuja, and a large number of businessmen, investors and those interested in Islamic banking . The objective of the IDB Business Forum in Abuja, is was to sensitize the Nigerian public and highlight the products and services offered by the IDB Group.
The IDB Group delegation to Nigeria was led by Dr. Ahmad Mohamed Ali, President of the IDB Group and composed of Mr Birama B. Sidibe, Vice President (Operations), Dr. Abdul Rahman Taha, CEO, Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC), Mr.Khaled Al-Aboodi, CEO, Islamic Corporation for the Development of the Private Sector (ICD) and other Senior officials from IDB Group.