Tag: AfDB
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FG, AfDB mull $500m innovation fund for ICT growth in Nigeria
Vice President Yemi Osinbajo on Monday said the Federal Government is working with African Development Bank (AfDB) to establish a 500-million-dollar innovation fund for technological growth. Osinbajo stated this at the opening ceremony of the 22nd African Securities Exchanges Association (ASEA) Annual General Meeting and Conference organized by the Nigerian Stock Exchange (NSE) in Lagos.…
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AfDB to support Nigeria, others to boost development in Africa
The African Development Bank (AfDB) plans to support Nigeria, Senegal, Ethiopia, Morrocco and Algeria with industrial policies to boost development in Africa. Mr Alhassane Haidara, Manager, Industrial Development disclosed this in an interview with the News Agency of Nigeria (NAN) in Abidjan. According to him, the bank in partnership with UNIDO will help the countries…
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SEC partners IFC, AFDB on Sukuk investment
The Securities and Exchange Commission (SEC) on Friday expressed plans to work with International Finance Corporate (IFC), African Development Bank (AFDB) for development of Sukuk bond investment. Ms Mary Uduk, SEC new Acting Director-General said that the commission would engage with IFC, AFDB, state governments and Federal Mortgage Bank to include Sukuk option in their…
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Unemployment: AfDB approves $300m loan to Nigeria
The Federal Government on Thursday confirmed that the African Development Bank (AfDB) approved a $300m loan to contribute to job creation, food security and nutrition. The Secretary to the Government of the Federation, Boss Mustapha said this in Abuja at a round-table on tackling youth unemployment in Nigeria. The event was organised by the Bureau…
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AfDB hits highest annual disbursement of $7.67bn in 2017 – Adesina
The President of African Development Bank (AfDB), Dr Akinwumi Adesina, said that the Bank, 2017, achieved its highest annual disbursement ever of 7.67 billion dollars on supports. Adesina said this in a statement made available to our reporter on Thursday in Abuja. He said that the Bank would continue to support African countries in ensuring…
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We need AfDB to assist African Nations to mobilise resources – Adeosun
Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, has called for a strong and well capitalized African Development Bank (AfDB) that is capable of fulfilling its commitments to member-countries. Adeosun made this call at the Regional Consultative Meeting between the AfDB President, Mr. Akinwumi Adesina and the Bank’s Governors and Ministers of Finance from West Africa…
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AfDB denies cancelling Nigeria’s $400m loan request
…Says ‘we strongly support FG’s economic recovery efforts’ The African Development Bank, AfDB on Tuesday refuted media reports that it had “called off loans to Nigeria.” The report was published by Reuters and credited to the Vice-President of the Bank for Power, Energy, Climate and Green Growth Amadou Hott. However, in a swift reaction, the…
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AfDB cancels Nigeria’s $400m loan request to fund 2017 budget
The African Development Bank (AfDB) has called off a loan to Nigeria that would have helped fund the country’s budget. It has instead redirected the money to specific projects, a vice president at the lender said on Monday, according to Reuters. The AfDB had been in talks with Nigeria for around a year to release…
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AfDB President, Akinwumi Adesina emerges 2017 World Food Prize Laureate
The President of African Development Bank (AfDB), Dr Akinwumi Adesina, has been named the 2017 World Food Prize Laureate. TheNewsGuru.com reports that Adesina, whose name was selected on Monday at Washington, D.C, becomes the 46th recipient and the sixth African to be so honoured. The award ceremony would take place Oct. 19. TheNewsGuru.com reports that…
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How low income earning Nigerians can own houses for N30, 000 monthly
…Acting President details FG’s Social Housing Programme The Federal Government has started a N100 billion Family Home Fund – an initiative of the Federal Government’s social housing project that provides inexpensive mortgages to Nigerians who can afford N30,000 per month, Acting President Yemi Osinbajo, SAN, has said. Prof. Osinbajo who spoke about this at the…