NIGERIA is to be offered a loan of $210m by the African Development Bank (AfDB) to help fund the creation of special agro-industrial processing zones across the country as part of an economic diversification plan.
Very vulnerable to the vagaries of the global crude oil market, Nigeria is a mono-economy, with about 90% of...
NIGERIA'S senate has approved President Muhammadu Buhari's request for an additional $16bn loan and an extra €1bn worth of borrowing to help the government fund its budgets under the 2018-2020 External Borrowing Plan.
Due to the debilitating effect of the coronavirus pandemic, Nigeria is totally unable to fund its annual...
AFRICAN Development Bank (AfDB) is planning to mobilise $520m to co-finance the first phase of an ambitious special agricultural processing programme in Nigeria aimed at boosting farm output.
Designed to be part of a major economic diversification plan that involves the founding of special agro-industrial processing zones,...
LAGOS State House of Assembly has approved Governor Babajide Sanwoolu's request for the government to assume full ownership of Lekki Concession Company (LCC) under an ambitious buy-back plan.
Created in 2006, the LCC is a special purpose vehicle set up to execute the Lekki Toll Road Concession Project. It has been privately...
Ayo Akinfe
As we recover from Covid-19, our debate over the next year simply has to focus on how to raise the needed capital to fund Nigeria’s infrastructural requirements. Anything else is just window dressing as our biggest headache as a country is that we do not generate enough wealth to meet our needs. Realistically, we face...
NIGERIA'S combined debts to the World Bank and African Development Bank (AfDB) doubled to $14.25bn as of at the end of March this year from $7.14bn in June 2015 according to information just released by the Debt Management Office (DMO).
Due to combination of several factors, including falling oil prices, investor departure...
AFRICAN Development Bank (AfDB) officials have announced that they intend to spend $2bn on African Continental Free Trade Area (Afcfta) related infrastructure over the next two years.
Founded in 2018, Afcfta is the largest free trade area in the world in terms of the number of participating countries since the formation of...
AFRICAN Development Bank (AfDB) officials have promised that the $430m Enugu to Bamenda highway linking Nigeria and Cameroon by road will be completed later this year opening up the economies of both countries to each other.
Despite being neighbours, transportation links between Nigeria and Cameroon are very poor, inhibiting...
FORMER president Chief Olusegun Obasanjo has mooted fielding the current head of the African Development bank (AfDB) Dr Akinwumi Adesina as presidential candidate in the 2023 Nigerian elections.
Dr Adesina, 61, who served as Nigeria's agriculture minister between 2011 and 2015, was elected as the AfDB president in 2015 and...
NIGERIA'S Presidential Economic Advisory Council (Peac) has revealed that the country needs at least $1.6trn worth of investment over the next 10 years to achieve its poverty reduction goals.
Currently the country with the highest number of people living in poverty worldwide, Nigeria has about 80m of its citizens surviving...
