President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has commended President Bola Ahmed Tinubu for authorizing a $500 million replenishment of the Nigeria Trust Fund (NTF), extending the facility for another 15 years. Adesina expressed his appreciation on Tuesday during the opening ceremony of the AfDB Annual Meetings in Abidjan, noting the significance of Nigeria’s contribution to the …

The African Development Bank (AfDB) Group has approved a new five-year Country Strategy Paper for Nigeria, committing about $650 million annually between 2025 and 2030 to drive economic transformation, build resilience, and foster broad-based prosperity. The Bank disclosed this in a statement published on its website on Thursday, saying that $2.95 billion would be provided over the first four years …

President of the African Development Bank, Dr. Akinwumi Adesina, has thanked former President Muhammadu Buhari for his unwavering support during both his initial election and eventual re-election as AfDB President. In a post shared on X on Thursday, Adesina disclosed that he recently paid a visit to Buhari to personally thank him for his role in backing his candidacy. ‘I …

President Ahmed Tinubu left Abuja for Dar es Salaam, Tanzania on 26th January to attend the Mission 300 Africa Energy Summit. His mission to Tanzania was straightforward – to further galvanise efforts, multilateral support and investments aimed at increasing electricity access to Nigerians. The Misson 300 initiative itself is aimed at expanding electricity access to 300 million people throughout Sub-Saharan …

The Federal Government (FG) has secured a $1.1 billion loan from African Development Bank (AfDB), to provide electricity for 5 million people by the end of 2026. Special Adviser to the President, (Information & Strategy), Bayo Onanuga, who disclosed this in a statement, said President Bola Tinubu made this known at the just concluded two-day Mission 300 Africa Energy Summit …

The President, African Development Bank Group (AfDB), Dr Akinwumi Adesina, has warned that the decision by the Federal Government to allow massive food importation may destroy the country’s agriculture sector. Adesina, who spoke at a retreat by the African Primates of the Anglican Church in Abuja, advised the Nigerian government to produce more food and create jobs through agriculture. On …

The Board of Governors of the African Development Bank (AfDB) Group has approved a capital increase of $117 billion to further support Nigeria and other countries on the continent. AfDB President, Dr Akinwumi Adesina, said this at the closing of the 2024 Annual Meetings of the bank in Nairobi. “So the Board of Governors of the AfDB approved a general …

The Ministry of Water Resources and Sanitation and the Ministry of Power, with support from the African Development Bank (AfDB), is championing the advancement of hydropower generation in the country. Minister of State, Water Resources and Sanitation, Rt. Hon. Muhammad Bello Goronyo, disclosed this at the World Hydropower Outlook Summit tagged: “Advancing Sustainable Growth, Hydropower Africa”, held in Abuja. The …

The Bank of Industry (BoI), African Development Bank (AfDB), and the National Information Technology Development Agency (NITDA) have partnered to drive digital literacy in Nigeria. Speaking on the synergy, Managing Director of BoI, Olasupo Olusi, said activities in the digital and creative sector have continued to increase, with a youthful growing population and increasing urbanisation. Olusi said the creative and …

The African Development Bank (AfDB), has secured funding support of $110,000 from the Sustainable Energy Fund for Africa (SEFA), for Ekiti State to facilitate the development of the State Electricity Priority Plan (SEPP). The Ekiti State Commissioner for Infrastructure and Public Utilities, Prof. Bolaji Aluko who made this known in Ado Ekiti stated that the approved funding followed the state …