Nigeria Today: Top 5 News Stories, Thursday, Nov 3rd 2016
1. The Central Bank of Nigeria has released a sum of $300 million for foreign airlines operations in the country. 2. Candidates wishing to sit for the 2017 Unified Tertiary Matriculation Examinations are advised to get familiar with the new JAMB pin vending which will replace the scratch card system. 3. The European Union to […]
Nigeria Today: Top 5 News Stories, Monday, Oct 24, 2016
Dangote sacks 36 expatriate and 12 Nigerian workers as recession continues to grapple Nigeria’s economy. A civil society organisation, Socio-Economic Rights and Accountability Project, (SERAP), has challenged the Chief Justice of Nigeria to speak out on the recent case of allegations against the Minister of Transportation, Mr Rotimi Amaechi by one of the Justices of […]
AfDB’s $300 Million Fund Now Accessible to Lagos’ Women Entrepreneurs
The African Development Bank’s $300 million fund for women entrepreneurs will now be accessible to business women in Lagos. The government of Lagos State has made it known that it has entered into a partnership with African Women Innovation Entrepreneurship Forum (AWIEF) , which will make it easier for women in the state to get […]
AfDB Approves N4bn for Water Supply, Sanitation Projects In Nigeria
The Board of Directors of the African Development Bank (AfDB) yesterday approved the sum of N3.5 billion ($205 million) for Nigeria’s Urban Water Sector Reform and Port-Harcourt Water Supply and Sanitation Project. The total project cost amounts to approximately N5.9 billion ($346 million), of which the AfDB is financing N3.5 billion ($205 million). AfDB […]
Aliko Dangote Advises African Governments to Improve Business Environment for Locals and Small Businesses
Aliko Dangote, Chairman and CEO of Dangote Group of Companies, spoke last week at a panel discussion organized by African Development Bank (AfDB)’s Board of Directors. The two-day retreat focused on the private sector’s role in African economic transformation and how banks can provide effective partnership and assistance. Dangote drew from his experience as a […]
AfDB Approves $187 Million to Stimulate Private Investment in the Nigerian Power Sector
The Board of Directors of the African Development Bank Group (AfDB) approved an African Development Fund (ADF) Partial Risk Guarantee (PRG) program of US $184.2 million , and an ADF loan of US $3.1 million, for capacity building, to support the Nigerian power sector privatization program. The PRG program in Nigeria aims to increase the country’s […]
AfDB Gathers Partners in Tunis to Advance Sustainable Energy for All in Africa
The African Development Bank as host of the Sustainable Energy for All (SE4ALL) Africa Hub organized a two-day workshop in Tunis with representatives of partner institutions. The workshop was organized in collaboration with the Global Facilitation Team headed by Kandeh Yumkella, the Special Representative of the UN Secretary General on SE4ALL. Since its launch, more […]
AfDB Approves $20 Mn Credit to Support Real Estate SMEs
The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, December 11 a US $20 million Trade Finance Line of Credit for the Company for Habitat and Housing in Africa/Shelter Afrique (SHAF) to boost the availability of Trade Finance (TF) instruments to small and medium enterprises (SMEs) involved in real estate and […]
AfDB, African Virtual University Discuss Benefits of e-Learning
The importance of tertiary education was emphasised during the first international conference for African Virtual University in Nairobi, Kenya. Stefan Muller, Lead Economist of the African Development Bank (AfDB) explained that the organisation considers higher education in Africa critical to development in the continent. “We consider the African Virtual University (AVU) Project very critical to […]
AfDB to Co-host ‘Africa Day’ in Washington
The African Development Bank (AfDB) has announced it will collaborate with the World Bank to host the first ever ‘Africa Day’ during the Law, Justice and Development (LJD) Week 2013, on 20th November at the World Bank Group Headquarters in Washington DC. The LJD Week is organized annually to provide a forum for legal and development […]
AfDB Approves $153M Financing for Nigeria’s Agricultural Transformation Agenda
The Board of Directors of the African Development Bank has approved an ADF loan of $ 152.12 million and an ADF grant of $ 0.38 million to finance Nigeria’s Agricultural Transformation Agenda Support Program Phase 1 (ATASP-1), AfDB has announced. The African Development Fund (ADF) is the soft loan arm of the African Development Bank […]
AfDB Supports African SME Development Fund
African Development Bank (AfDB) has announced that its Board of Directors have approved a US $12.5-million equity investment in the Kibo Fund II, to allow the Fund provide access to finance and capacity building to an under-served market of outward-looking small and medium enterprises (SMEs) and mid-market African firms, particularly in low-income and fragile states […]
We Spend $700 Million on Water Annually in Nigeria – AfDB
African Development Bank (AfDB) has disclosed that the bank spends around $700 million on water every in Nigeria, totaling $2.4 billion in the last few years. “In water management, the AfDB investment runs into about $700 million per annum in Nigeria alone,” says Andy Mensah, an official of the Bank at the “Exercise African Winds” […]
AfDB in Partnership to Launch Africa50 Fund for Infrastructure Development
Made in Africa Foundation (MIAF) has partnered with African Development Bank (AfDB) to Launch Africa50 Fund, to catalyse funding for Africa’s largest infrastructure delivery vehicle. They intend to raise $500 million for Africa50’s project development arm by the first half of 2014. The fund will be divided into Project Development and Project Financing. The partnership […]
African Development Bank to Fund Urban Mobility in Abuja
African Development Bank (AfDB) Group will leverage funding from the Clean Technology Fund (CTF) to funds a project on Bus Rapid Transport (BRT) system in Abuja. “The project,” according to the Group, “Will contribute towards developing good quality public transport system in the city. Not only will this reduce reliance on cars, but will also […]
AfDB Invests $1 Billion for Portable Water Projects in Nigeria
Water is the most critical resource in any nation. It is the principal measure of the health of a country and how its people live. In Tunisia, as in a number of North African countries, the saying to ‘share someone’s water’ means much more than offering someone a cup of water. It means showing an […]