AfDB Archives - AM Business

Nigerians worse off than in 1960, says AfDB President Adesina

The President of the African Development Bank, Dr. Akinwumi Adesina, has raised alarm over Nigeria’s worsening economic conditions, warning that the country is experiencing a deeper regression than many realise. Speaking at the 20th anniversary dinner of investment firm Chapel Hill Denham in Lagos, Adesina revealed that Nigeria’s current GDP per capita stands at $824—less […]

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2nd May 2025
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Economy

AfDB to commit $650m annually to accelerate Nigeria’s economic growth

The African Development Bank Group has unveiled a bold five-year Country Strategy Paper for Nigeria, pledging approximately $650 million annually from 2025 to 2030 to catalyze economic transformation and foster resilience. In a statement on Thursday, AfDB stated that it will provide $2.95 billion over the first four years of the plan, with an additional […]

monwubukepdnlimited-com
1st May 2025
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News

AfDB launches new country strategy to boost agriculture in Nigeria

The African Development Bank Group has unveiled a new Country Strategy Paper aimed at boosting agriculture and enhancing economic growth in Nigeria. A delegation led by Dr. Abdul Kamara, Director General of AfDB’s Nigeria Country Department, recently met with Nigeria’s Finance Minister, Wale Edun, to strengthen collaboration in key sectors. Dr. Kamara highlighted the launch […]

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26th March 2025
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News

AfDB, ECOWAS sign $12m agreement to boost Rice production

The African Development Bank and the Economic Community of West African States Commission have signed a $12 million grant agreement to implement the Rice Resilient Value Chains Development Project, a major initiative aimed at enhancing food security across West Africa. The signing ceremony, held at the ECOWAS Commission Headquarters in Abuja, Nigeria, marks a significant […]

aomenyepdnlimited-com
11th March 2025
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15 Views

News

AfDB to provide $230m trade finance package for Access Bank

The African Development Bank is set to roll out a $230 million trade finance package for Access Bank Plc, aimed at enhancing trade finance activities and improving foreign exchange liquidity for small and medium-sized enterprises in Nigeria. According to a Project Summary Note, the financing package comprises two key components: a $170 million Trade Finance […]

aomenyepdnlimited-com
5th March 2025
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20 Views

AfDB announces candidates for 2025 presidential election

The African Development Bank has officially announced the five candidates cleared to contest its upcoming presidential election, scheduled for May 29, 2025. The election will determine the next leader of the AfDB, a crucial institution driving Africa’s economic development and financial stability. According to a statement issued by the AfDB, the candidates were approved by […]

aomenyepdnlimited-com
24th February 2025
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59 Views

AfDB President Adesina criticizes border opening for food imports

News

AfDB, Interpol partner to tackle financial crimes

The African Development Bank Group has signed a Letter of Intent with the International Criminal Police Organization to enhance cooperation in combating corruption, financial crime, cyber-enabled fraud, and money laundering across Africa. According to the statement on Frida, this partnership, formalized on February 20, 2025, marks the first collaboration of its kind between a multilateral […]

monwubukepdnlimited-com
22nd February 2025
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18 Views

News

AfDB, W’Bank pledge $40bn to Mission 300 initiative

The President of the African Development Bank, Akinwumi Adesina, has announced that the AfDB and the World Bank Group are committing $40 billion to the Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030. This was disclosed by Adesina disclosure during his opening remarks titled, “From Ideas to Action to […]

monwubukepdnlimited-com
28th January 2025
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14 Views

News

Firewood smoke kills 600,000 African women, children yearly – Adesina

The President of the African Development Bank, Akinwunmi Adesina, revealed that around 600,000 women and children die annually in Africa due to the lack of access to clean cooking sources. He made this statement during the Africa Energy Summit, currently underway in Dar es Salaam, Tanzania. The summit, themed “Mission 300,” is a joint effort […]

monwubukepdnlimited-com
28th January 2025
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10 Views

News

Illicit flows cost Nigeria, others $1.6bn daily – AfDB

The African Development Bank Chief Economist, Kevin Urama, has disclosed that Africa loses approximately $1.6 billion daily due to illicit financial flows and profit shifting by multinational corporations operating on the continent. This significant financial leakage undermines economic growth and development in African nations. Urama made this revelation during an interview, according to The Punch. […]

monwubukepdnlimited-com
27th December 2024
1 Comment
15 Views

News

Nigeria, Africa need $74bn for debt servicing – AfDB

The Vice President and Chief Economist of the African Development Bank, Prof. Kevin Urama, revealed that Nigeria and other African countries need approximately $74 billion for debt servicing this year. This comes amid increasing challenges in accessing affordable liquidity, further straining the financial stability of these nations. Urama disclosed this during his opening remarks at […]

monwubukepdnlimited-com
17th December 2024
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featured

AfDB secures $2.2bn for Nigeria’s agro-Industrial hubs

The African Development Bank Group has mobilized $2.2 billion to support the second phase of Nigeria’s Special Agro-Industrial Processing Zones (SAPZ) initiative. This disclosure was made at the Africa Investment Forum in Morocco, where Nigerian governors, diplomats, multilateral organizations, and private sector investors gathered to demonstrate their commitment to advancing agro-industrial development, creating jobs, and […]

monwubukepdnlimited-com
11th December 2024
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19 Views

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Tag: AfDB

Nigerians worse off than in 1960, says AfDB President Adesina

AfDB to commit $650m annually to accelerate Nigeria’s economic growth

AfDB launches new country strategy to boost agriculture in Nigeria

AfDB, ECOWAS sign $12m agreement to boost Rice production

AfDB to provide $230m trade finance package for Access Bank

AfDB announces candidates for 2025 presidential election

AfDB, Interpol partner to tackle financial crimes

AfDB, W’Bank pledge $40bn to Mission 300 initiative

Firewood smoke kills 600,000 African women, children yearly – Adesina

Illicit flows cost Nigeria, others $1.6bn daily – AfDB

Nigeria, Africa need $74bn for debt servicing – AfDB

AfDB secures $2.2bn for Nigeria’s agro-Industrial hubs

Amazon enters quantum race with launch of Ocelot.

9mobile loses over 300,000 subscribers as roaming deal.

Africa can lead AI-driven deep tech, says El.

UAE commits to $25bn Nigeria-Morocco gas pipeline project

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