32.3 C
Wednesday, November 30, 2022

Read Online

AfDB Lends $525m to Nigeria in 2016

Akinwumi Adesina, President of the African Development Bank (AfDB) will visit Nigeria from September 26–28, 2016, on his first official visit to the country since his appointment last year. Adesina will meet policy-makers, the private sector, and development partners to discuss the challenges facing Nigeria and highlight the AfDB’s commitment to further strengthen its partnership with Nigeria.

“I am very much looking forward to my first official visit to Nigeria as President of the AfDB. Nigeria is a vital shareholder and partner for the Bank. The Nigerian economy is in a critical phase, and in these difficult times, we have to make sure we all work together to tackle the challenges facing Africa’s largest economy,” Adesina said ahead of his trip.

The visit aims to advance co-operation across a wide range of areas, including how best Nigeria can respond to its current challenges.

In Abuja, Adesina will hold a series of meetings with the leadership of Nigeria, including President Muhammadu Buhari, Minister of Finance Kemi Adeosun, and Central Bank Governor Godwin Emefiele. The AfDB President will take part in a roundtable discussion with philanthropic leaders and hold discussions with the private sector, as well as development partners. Adesina will also receive an award by the Nigerian Economic Society.

The AfDB has a robust partnership with Nigeria, which is one of the Bank’s founders. Nigeria, the biggest shareholder, is also one of the largest beneficiaries of AfDB’s assistance.

In 2016, the Bank has so far lent US $524,969 million to Nigeria. As of September 2016, the Bank has invested about US $7 billion in the Nigerian economy since it began its operations in the country in 1967.

The Bank is working closely with the Government of Nigeria to support its various sectors, including agriculture, infrastructure, energy, transport, water and sanitation.

Business Journal
We deliver business news that are professionally crafted and tailored to give you business freedom and expression that is aimed at increasing your spirit of enterprise.

Related Articles

- Advertisement -

Stay Connected

- Proud Member -spot_img
- Advertisement -

Latest Articles