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Tag: AfDB

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Investment

AfDB to partner Enugu govt on investment drive

The African Development Bank has reiterated its willingness to collaborate with the Enugu State Government to increase investment and infrastructure development. The PUNCH reported that during a meeting with Governor Peter Mbah at Government House, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, stated that Nigeria was crucial to AfDB’s programs. According to him, the first […]

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

How AfDB invested over $10bn in Nigeria 52 years

The African Development Bank Group has spent more than $10 billion in Nigeria since 1971. According to The Punch, the development bank revealed this information in a statement to promote collaboration and unleash the enormous agricultural potential of the country during the visit of the seven recently elected governors of North West states. The AfDB claimed that […]

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

AfDB to grant Nigeria $618m for digital, creative businesses

The Investment in Digital and Creative Enterprise project of the African Development Bank has concluded an agreement to provide $618 million to Nigeria. The News Agency of Nigeria reported that the Nigerian government is currently in the process of appointing a fund manager for the project, according to the Country Director-General for Nigeria at the AfDB, Mr. Lamin […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Business

Why Africa is key to global labour force supply – AfDB

The President of the African Development Bank Group, Dr. Akinwumi Adesina, has stated that Africa is the key for supplying the global labour force. He said this during the opening of the African Investment Forum organized by AfDB in Marrakech, Morocco with the theme: ‘Unlocking African Value Chains,’ said African economies witnessed real Gross Domestic Product […]

FG secures $163m AfDB loan for wheat production
featured

FG secures $163m AfDB loan for wheat production

    The Nigerian government has secured a loan of $163m from the African Development Bank to boost wheat production. According to Channels, this was disclosed by the Vice president, Senator Kashim Shettima, stated this in Argungu, Kebbi State where he paid a condolence visit to the Argungu Emirate, state government, and the family of […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Agribusiness

FG to fast track AfDB’s SAPZ project for agricultural growth

The Special Agro-Industrial Processing Zones initiative of the African Development Bank will be accelerated by the Tinubu administration in an effort to boost the sector’s GDP contribution and increase chances for food security and job stability. According to The Punch, the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, said this on Wednesday in Abuja at the […]

AfDB begins agro-industrialisation programme
Agribusiness

AfDB begins agro-industrialisation programme

  The African Development Bank, has stated the implementation of phase two of the Special Agro-Industrial Processing Zones is expected to bring about significant changes in agricultural practises, leading to a transformation of Nigeria’s economy from a predominantly agrarian one to an industrial society centred around agribusiness. According to The PUNCH, the AfDB in a […]

AfDB, FCMB to boost SMEs, women enterprisea with $50m
Investment

AfDB co-funds Mauritania-Mali $900m power project

The African Development Bank Group, has confirmed its commitment to support a $900 million multinational power transmission line between Mauritania and Mali, connecting 620,000 people to electricity.   The Bank, in a statement on its website, made the commitment with the partners at a roundtable in the Mauritania capital, Nouakchott.   It said the discussions […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Electricity

Nigeria loses $29bn annually to poor electricity supply – AfDB

The African Development Bank has stated that Nigeria loses $29 billion yearly owing to inadequate power supplies, while manufacturers in the country spend up to N10.1 trillion on energy. The president of the African Development Bank, Dr. Akinwumi Adesina, revealed this information on Thursday as he expressed concern about Nigeria’s epileptic power supply and called for an industrial revolution […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Economy

Fuel Subsidy: Nigeria’s economy lost $10bn in 2022 – AfDB

The president of the African Development Bank, Akinwumi Adesina has said that Nigeria’s economy lost 10 billion dollars due to fuel subsidies in 2022. According to the News Agency of Nigeria, at a speech in Abuja, Adesina claimed that Nigeria’s fuel subsidies assist the wealthy rather than the poor. The poorest 40% of the population, […]

AfDB partners ILX to increase investment in Africa
Business

AfDB partners ILX to increase investment in Africa

The African Development Bank and ILX Management B.V. have a contract to increase investments in the regional members of the Bank Group. The agreement, according to a statement from the bank, would also help institutional investors raise money for initiatives on the continent that are aimed at addressing climate change and the Sustainable Development Goals. […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Banking

AfDB launches $5.9m financial support program for Africa

In order to strengthen the collaboration between African nations in the battle against illicit financial flows, the African Development Bank has announced the beginning of the African Financial Integrity and Accountability Support Project. The Coalition for Debate on Africa and the AfDB will join to launch the project with a $5.9 million project, according to […]

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