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Nigeria, other African countries’ mounting debt profile forces AfDB to inaugurate ADMIN

By: Babajide OkeowoThe mounting debt profile of Nigeria and other African countries has forced the African Development Bank (AfDB) to launch the African Debt...
Business

AfDB, Partners Launch $5.2m Project To Boost Diaspora Investment In 8 Countries

The agreement was signed in Addis Ababa, Ethiopia. The Tripartite Funding and Implementation Agreement will support the ‘’Streamlining Diaspora Engagement to Catalyze Private Investments...
Business

AfDB appoints Lamin Barrow as Director General for West Africa Region

Barrow, a Gambian national, brings extensive experience and knowledge to his new role, having joined the African Development Bank in 2000. Before this appointment,...
News

AfDB approves increased capital of $117bn to support Nigeria, others

The Board of Governors of the African Development Bank (AfDB) Group, has approved a capital increase of 117 billion dollars to further support Nigeria...
Business

AfDB’s Shareholders Inject Fresh $117bn As Capital Hits Record $318bn

The board of governors of the African Development Bank (AfDB) has approved a fresh general capital of $117bn making the lender’s capital reach a...
Business

AfDB invests $1.44bn to boost infrastructural growth in Nigeria

The African Development Bank (AfDB) has invested $1.44 billion to support the development of energy and power, transport, water, and other infrastructural projects in...
Business

AfDB to boost Nigeria’s power sector reforms with $1bn loan

The African Development Bank (AfDB) has resolved to support Nigeria’s power sector with a $1 billion Policy-Based Operation (PBO) fund to boost electricity. The...
Business

Nigeria goes for $2.2bn loan from World Bank, budgetary support from AfDB

The Federal Government is set to receive a $2.2 billion loan from the World Bank at a low interest rate of about 1%.This is...
Business

FG, AfDB Meet Over Funding Of Coastal, Trans-Sahara Highways

The Minister of Works and Housing, David Umahi and the African Development  Bank (AfDB) on Tuesday opened talks for the possible funding of the construction...
News

Rising Costs in Nigeria could lead to social unrest, AfDB warns

The African Development Bank (AfDB) has warned that rising prices of fuel and other commodities could lead to social unrest in Nigeria.The bank also...
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