African Development Bank Group (AfDB)
  • Multimedia content

  • Images (3)
    • Fifth from left: Prof Emeritus Olugbemiro Jegede; AfDB President Akinwumi Adesina; Primate of the Church of Nigeria (Anglican Communion) Most Rev Henry C. Ndukuba at the Council of Anglican Provinces of Africa retreat, where Adesina spoke on 'Food Security and Financial Sustainability in Africa'
    • AfDB President Akinwumi Adesina speaking on 'Food Security and Financial Sustainability in Africa' at the Council of Anglican Provinces of Africa retreat in Abuja
    • Most Rev. Henry C. Ndukuba, Primate of the Church of Nigeria (Anglican Communion), thanks AfDB President Akinwumi Adesina (to the left) for his lecture on 'Food Security and Financial Sustainability in Africa' at the CAPA retreat in Abuja
  • All (3)
Source: African Development Bank Group (AfDB) |

Nigeria’s food importation policy could destroy country’s agriculture, warns Akinwumi Adesina

Nigeria should be producing more food to stabilize food prices, while creating jobs and reducing foreign exchange spending

The President of the African Development Bank Group Dr. Akinwumi Adesina (www.AfDB.org) has said the decision by Nigeria’s government to allow massive food importation risks destroying the country’s agriculture. This follows the announcement by Nigeria’s Minister for Agriculture Abubakar Kyari on July 10 that the Federal Government would suspend duties, tariffs,…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (3)
    • African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department (1)
    • African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department (2) (FR)
    • African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department (3) (PT)
  • All (3)
Source: African Development Bank Group (AfDB) |

African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department

Dr Omotosho, a Nigerian national, has more than 21 years experience in developing data strategies to align with the strategic objectives of organisations

The African Development Bank (www.AfDB.org) has appointed Dr Babatunde Samson Omotosho, an economist and statistician, as Director of the Statistics Department, effective June 16, 2024. Dr Omotosho, a Nigerian national, has more than 21 years experience in developing data strategies to align with the strategic objectives of organisations. He also brings…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (1)
    • Director General of the African Development Bank's Nigeria Country Department, Lamin Barrow (left), and Chinua Azubike, CEO of InfraCredit, exchange the deed of agreement for a $15 million subordinated loan signed on June 14, 2024, to enhance infrastructure financing in Nigeria
  • All (1)
Source: African Development Bank Group (AfDB) |

CORRECTION - Nigeria: African Development Bank and Infrastructure Credit Guarantee Company Limited sign $15 million agreement to enhance infrastructure financing

InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors to support infrastructure projects

The African Development Bank (www.AfDB.org) and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria Country…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (1)
    • Director General of the African Development Bank's Nigeria Country Department, Lamin Barrow (left), and Chinua Azubike, CEO of InfraCredit, exchange the deed of agreement for a $15 million subordinated loan signed on June 14, 2024, to enhance infrastructure financing in Nigeria
  • All (1)
Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank and Infrastructure Credit Guarantee Company Limited sign $15 million agreement to enhance infrastructure financing

InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors to support infrastructure projects

The African Development Bank (www.AfDB.org) and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (1)
    • African Development Bank Group Appoints Lamin Barrow as Director General for West Africa Region
  • All (1)
Source: African Development Bank Group (AfDB) |

African Development Bank Group 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

The African Development Bank Group (www.AfDB.org) has appointed Lamin Barrow, an economist, as the Director General for the West Africa Region, effective June 1, 2024. Barrow, a Gambian national, brings extensive experience and knowledge to his new role, having joined the African Development Bank in 2000. Before this appointment, he…

Source: African Development Bank Group (AfDB) |

REISSUE: 2024 Annual Meetings: African Development Bank President Outlines Gains of Historic 2023 Dakar 2 Summit

Bank will invest $2.9 billion to support the Country Food and Agriculture Delivery Compacts; appoints Special Envoys to fast-track implementation

Since the Dakar 2 Summit (https://apo-opa.co/4bBfGm1), six African countries have set up Presidential-level Councils to drive implementation of the Country Food and Agriculture Delivery Compacts agreed at the summit, while another twelve countries are at various stages of establishing their councils. Presidential Councils have taken off in Tanzania, Democratic Republic of…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (1)
    • Minister of Industry, Trade and Investment, Dr. Doris Nkiruka Uzoka-Anite,(far right) and Nasarawa State Governor, Abdullahi Sule, welcome Director General, African Development Bank, Nigeria DG Lamin Barrow to the Nasarawa Investment Summit 2024
  • All (1)
Source: African Development Bank Group (AfDB) |

African Development Bank invests $1.44 billion to support infrastructure development in Nigeria

The energy sector alone will require $759 billion, while the transport sector needs $575 billion

The African Development Bank (www.AfDB.org) has invested $1.44 billion to support the development of energy and power, transport, water, and sanitation infrastructure in Nigeria. The Bank’s Nigeria Country Department, Director General Lamin Barrow disclosed this at the Nasarawa Investment Summit 2024, held from 15 – 16 May in Lafia, the…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank signs $75 million loan agreement to boost Indorama’s fertilizer production and export capacity

Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market, supporting the country’s agricultural sector

The African Development Bank (www.AfDB.org) has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (1)
    • (L-R) Stanley George, Director, International Economic Relations Department, Federal Ministry of Finance; Sale Samanja, Yobe State Attorney General and Commissioner of Justice; Mohammed Abacha, Yobe State Commissioner for Finance; Sidi Yakubu, Yobe State Commissioner for Environment and Lamin Barrow, Director General, African Development Bank Nigeria Country Department, during ECCAP loan negotiation agreement meeting at the Bank’s Office in Abuja, Nigeria
  • All (1)
Source: African Development Bank Group (AfDB) |

African Development Bank approves $50 million loan to support climate change resilience, improve livelihoods and boost food security in Nigeria’s Yobe State

Yobe State Government will contribute $4.52 million in counterpart funding, and project beneficiaries are contributing $16.82m

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) to enhance climate change resilience, boost food security, and improve livelihoods for over 3.5 million people in northeast Nigeria. The project cost is…

African Development Bank Group (AfDB)
  • Multimedia content

  • Images (2)
    • (L-R) President, African Development Bank Group, Dr. Akinwumi Adesina and EkitiState Governor, Biodun Abayomi Oyebanji, during an official meeting with the Bank’s President in Lagos
    • Lamin Barrow, Director General, African Development Bank Nigeria Country Department (5th from left); Stanley George, Director, International Economic Relations Department, Federal Ministry of Finance ( 6th from left) and Akintunde Oyebode, Ekiti State Commissioner for Finance and Economic Development (7th from left), during EKZ loan negotiation agreement meeting at the Bank’s Office in Abuja, Nigeria
  • All (2)
Source: African Development Bank Group (AfDB) |

Catalyzing Digital Innovation: African Development Bank commits $80 million to Ekiti Knowledge Zone Project in Nigeria

State-led pioneering special economic zone project, designed to foster linkages between educators, researchers, innovators, entrepreneurs, and industries, all within one location

In the heart of Nigeria’s Ekiti State, a groundbreaking initiative is taking shape – the Ekiti Knowledge Zone (EKZ), a bold step to transform the region into a hub for digital innovation and knowledge economy. The African Development Bank has committed $80 million in loan financing for this state-led pioneering…