The African Development Bank (AfDB) has revealed that Nigerian banks lend only 9.4% of GDP to the private sector, underscoring the limited role of financial institutions in driving business growth and economic development.
The African Development Bank (AfDB) has revealed that power outages cost Nigerian businesses about 3% of their annual sales, forcing firms to spend heavily on generators and other private alternatives. Â
FG Seeks AfDB Support for $7bn Aviation Plan
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has met with the President and governors of the African Development Bank in Congo over the proposed $7bn Integrated Aviation Transformation Programme for Africa.
The meeting was held as...
Nigeria Faces Slower Growth in 2027, AfDB Projects
The African Development Bank Group has projected that Nigeria’s economic growth will slow to 3.7 per cent in 2027 as easing global oil prices reduce external revenue inflows, despite a modest improvement expected in 2026.
The projection was...
The Bank of Industry (BOI) has secured a $200m sovereign-guaranteed facility from the African Development Bank (AfDB) to expand long-term financing for Nigerian enterprises in strategic sectors.
The African Development Bank (AfDB) has approved a $61 million financing package for the Development Bank of Nigeria (DBN) to expand credit access for women-owned businesses, especially in agriculture.
