The Independent Media and Policy Initiative (IMPI) says Nigeria’s Gross Domestic Product (GDP) per capita at independence in 1960 was 93 dollars, not 1,847 dollars as claimed by Dr Akinwumi Adesina, President of the African Development Bank (AfDB). In a statement on Monday, Dr Omoniyi Akinsiju, Chairman of the group, said Adesina’s claim, made during…
The African Development Bank (AfDB) has invested over $8 billion in water infrastructure across 40 African countries since 2000, benefiting more than 92 million people. Mr Johannes Chirwa, Director, Water Development and Sanitation Department, AfDB, said this at the African Ministers’ Council on Water (AMCOW) West Africa sub-regional meeting in Abuja on Tuesday. Chirwa was…
Northwest Governors, led by Katsina State Governor and Chairman of the Northwest Governors’ Forum, Malam Dikko Umaru Radda, have held a crucial meeting with senior officials of the United Nations and the African Development Bank (AfDB) to advance development initiatives in the region. The meeting, held in Katsina, was attended by Governors Uba Sani (Kaduna),…
The African Development Bank (AfDB) has reiterated its commitment to invest $2 billion in the development of the Lake Chad Basin. Dr. Akinwumi Adesina, AfDB President, disclosed this on Wednesday at the 5th Lake Chad Governors’ Forum in Maiduguri. Adesina, represented by Dr. Yaro Balde, Director, AfDB Transition States Coordination Office, said the funds would…
The African Development Bank Group (AfDB) says it will construct a new state-of-the-art headquarters building in Abidjan, Côte d’Ivoire. AfDB said this in a statement on Tuesday that the decision was approved by the bank’s Boards of Directors. The bank emphasised the importance of maintaining a strong presence in the country and providing a modern…
Prof Kevin Urama, Chief Economist and Vice President, Economic Governance and Knowledge Management, African Development Bank (AfDB), says the continent needs 74 billion dollars in 2024 for debt service. Urama disclosed this at the launch of the Debt Management Forum for Africa (DeMFA) and its innaugural policy dialogue on Monday in Abuja. The theme of…
The African Development Bank (AfDB) has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges. The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that strategic borrowing and political stability were critical for growth….
The African Development Bank (AfDB), has called for urgent structural reforms to tackle Africa’s deepening economic challenges that include currency depreciation, rising inflation and an escalating import bill. Its Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that global and local factors contribute to the continent’s…
The Federal Government, African Development Bank (AfDB) and Food and Agriculture Organisation (FAO), are partnering to transform the West and Central Africa’s wheat sector. Dr Akinwumi Adesina, President of African Development Bank (AfDB), stated this at the second regional wheat Summit 2024 on Wednesday in Abuja. The theme of the summit is: Prioritising Policy, Innovative…
The African Development Bank (AfDB) said on Monday that it approved financing worth 70 million euros for Moroccan lender Bank of Africa, to promote access to trade finance in Africa. The AfDB said in a statement that the trade finance facility comprises a Risk Participation Agreement (RPA) of 50 million euros and a Trade Finance…
