AfDB Supports African Projects With $11.3bn In Seven Years

About 370 transformative bank projects valued at $11.3bn were embarked upon between 2010 and 2017 by the African Development Bank in the African region. In 2018, the bank approved innovative financial instruments on 65 projects in fifteen countries valued at $2.8bn. This was disclosed when governors representing the African Development Bank West Africa region held […]

AfDB Bans Nigerian Company Over Fraudulent Bids

The African Development Bank Group (AfDB) has announced the ban of ALG Global Concept Nigeria Limited from participating in Bank-financed projects for 36 months. The construction company registered in Nigeria, as well as its Managing Director, Mr. Abuharaira Labaran Gero, were slammed with the ban by the Office of Integrity and Anti-Corruption of the Bank. […]


AfDB, FAO To Raise $100m For Agriculture In Nigeria, Others

The African Development Bank and Food and Agricultural Organisation are set to raise $100m for agriculture in a bid to end hunger and malnutrition and create wealth in Nigeria and other African countries. In a statement issued on Tuesday, the AfDB said both organisations would work together in strategic alliance to raise funds to promote […]

Federal Government Partners AfDB On Youths Employment

The Federal Government says it has entered into partnership with the African Development Bank (AfDB) to engage more stakeholders in a round-table discussion on youth employment and skill developments. Prof. Stephen Ocheni, the Minister of State for Labour and Employment, said this on Tuesday in Abuja at the inauguration of the task team on Public-Private Round-Table […]

AFDB Rolls Out Plan To Close $130 Billion Infrastructure Gap

The African Development Bank on Tuesday unveiled a plan to close the $130 billion gap in infrastructure financing in Nigeria and other African countries. The plan, which was unveiled at the Africa Infrastructure Forum Roadshow held in Abuja on Tuesday, will take full shape at the African Investment Forum scheduled to hold in Johannesburg, South […]


AfDB Grants $1m To BOA, Reels Over N60bn Debt

The African Development Bank (AfDB) has issued one million dollar grant to the Bank of Agriculture (BOA) to restructure and strengthen its capacity in responding to emerging challenges. Kabiru Adamu, CEO, Bank of Agriculture, who disclosed this in an interview with News Agency of Nigeria (NAN) on Thursday in Abuja, said the bank is working […]

AfDB Says Nigeria, Others Losing $50 Bn Annually To Illicit Financial Flows

Nigeria and other African countries are losing more than $50 billion per annum to illicit financial flows, the African Development Bank has said. The Senior Director, Nigeria, AfDB, Ebrima Faal, said this at the opening of a workshop on the role of the parliament in combating illicit financial flows from the continent. Faal noted that […]


AfDB Boosts Agric With $10m Equity Investment

The Board of Directors of the African Development Bank Group (AfDB) on Tuesday approved $10 million equity investment in Phatisa Food Fund2 (PFF2) to boost agriculture and nutrition across Africa. The PFF2 is a second generation Fund which builds on the success of its predecessor African Agriculture Fund (AAF), sponsored by AfDB along with other […]