News
At
a meeting with the African Development Bank President in Abuja,
Nigeria’s President Muhammadu Buhari commended the Bank for its successes and
pledged Nigeria’s continuous support for the institution.
“I
want to recognize the support that the African Development Bank has given
Nigeria in recent times. I remember the Bank’s critical gesture in 2016 during
the difficult period of economic recession through a US$600 million budget
support facility. We appreciate this and assure you that we will continue to
work towards a diversified Nigeria,” President Buhari, said at the meeting with
Bank President, Akinwumi Adesina, which was attended by some of the country’s
Ministers and senior government officials.
President
Buhari commended the Bank’s interventions in infrastructure and agriculture,
and encouraged the institution to keep supporting countries like Nigeria to
grow agriculture as a business through the promotion of agro-industrial zones
in the country.
African
Development Bank President Akinwumi Adesina thanked President Buhari for his
support to the Bank and pledged the Bank’s commitment to fast track Africa’s
development.
Adesina
also highlighted several reforms at the Bank and strategic efforts to move the
Bank’s operations closer to countries.
“The
African Development Bank’s robust operations in Nigeria have had significant
results and impacts on the ground, and continue to accelerate the country’s
economic transformation as well as improve the lives of millions.”
At
the end of March 2019, the Bank’s active portfolio in Nigeria comprises 60
operations with total commitments of US$4.5 billion. These include 28 public
sector operations with total commitments of US$1.7 billion (21 national and 7
regional); 34 non-sovereign operations with total commitments of US$2.8
billion.
Following
Nigeria’s request to the African Development Bank, Adesina reported that the
United Nations Secretary-General, Antonio Guterres, has accepted to co-chair a
multi-billion fund-raising session to
revive the Lake Chad – a strategic effort that has major climate, economic,
agricultural and employment implications for the region.
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