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AfDB President Adesina criticizes border opening for food imports
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FG to get fresh $500m loan from AfDB

The Federal Government will receive a $500 million loan from the African Development Bank Group to fund the initial phase of the Economic Governance and Energy Transition Support Program. EGET-SP is an initiative aimed at accelerating the transformation of the country’s electricity infrastructure and improving access to cleaner sources of energy. These efforts would decentralize […]

New SEC regulation to enhance transparency in bank recapitalization
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SEC, AfDB demand green finance acceptance to drive eco-friendly economy

The Securities and Exchange Commission in partnership with the African Development Bank, have urged for a greater acceptance of green finance as a strategy to address climate change and promote a sustainable economy in the country. This was disclosed by the Director-General of the Securities and Exchange Commission, Emomotimi Agama at a capacity-building workshop for […]

AfDB President Adesina criticizes border opening for food imports
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AfDB President Adesina criticizes border opening for food imports

President of the African Development Bank Dr. Akinwunmi Adesina, has criticized Nigeria’s recent decision to open its borders to extensive food imports, describing the policy as detrimental to the country’s agricultural strategy. Speaking at the Council of Anglican Provinces of Africa retreat in Abuja on Saturday, themed ‘Food Security and Financial Sustainability in Africa,’ Adesina […]

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

AfDB to equal Italy’s $150m concessional loans across Africa

The African Development Bank has said that it will match the $150m in concessional loans and grants from Italy, which are meant to finance projects throughout the continent. This was disclosed in a statement by the AfDB on its website, as the operationalisation of Italy’s Mattei Plan for Africa gets underway. The Italian government had […]

News

AfDB initiates programme to assist 22 countries in debt management

The African Development Bank Group has initiated training programmes to assist 22 transitioning or fragile African countries in effectively managing their debt. According to a statement issued by the bank on Thursday, the programme, which is part of the Public Finance Management Academy for Africa, an initiative of the bank group’s African Development Institute, began […]

News

AfDB, Intel partner to transform Africa digital ecosystem

The African Development Bank and technology giant Intel have formalized their cooperation to transform the African digital ecosystem. The African Development Bank and The IT behemoth Intel have formalized their partnership to revolutionize the continent’s digital landscape. The collaboration intends to provide 30,000 government personnel and 3 million Africans with AI skills. According to a […]

AfDB launches new country strategy to boost agriculture in Nigeria
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Nigeria set to benefit from AfDB’s $1.3trn funding

The African Development Bank has highlighted that African countries require $1.3 trillion annually to achieve sustainable development by 2030. This announcement was detailed in a statement published on the AfDB website on Friday. This comes alongside AfDB’s recent announcement of a $1.44 billion investment in Nigeria. Disclosed at the Investment Summit 2024 held in Lafia […]

News

$277bn needed annually to tackle climate change in Africa – Adesina

The President of the African Development Bank, Dr. Akinwumi Adesina, declared that the continent needs $277 billion annually to tackle climate change. This was disclosed by Adesina at the Islamic Development Bank’s 50th-anniversary event in Riyadh, Saudi Arabia on Monday. Adesina stressed that Africa currently gets only $30 billion yearly for this purpose. Adesina announced […]

News

Africa’s growth slowed by $824bn resource-backed loan – AfDB

The President of the African Development Bank, Akinwumi Adesina, stated that Africa’s potential for future economic growth is being undermined by inefficient resource-backed loans which exacerbate debt resolution and compromise countries. This disclosure was made in a statement by Adesina at the Semafor Africa Summit, taking place on the sidelines of the International Monetary Fund […]

FG begins construction of 700km Lagos-Calabar highway
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FG begins construction of 700km Lagos-Calabar highway

By Melvin Onwubuke The Federal Government on announced it had begun the construction of the 700km Lagos-Calabar Coastal Highway. The Minister of Works, David Umahi disclosed in a statement issued by his Special Adviser on Media, Orji Uchenna,on Thursday in Abuja. The works minister, who addressed journalists after the council meeting, said the 47.47km dual […]