FG Okays N2.373trn For Power Sector Reform       The Federal Government has set aside the $6.15 billion (about N2.373 trillion) secured from the World Bank, the African Development Bank (AfDB), Siemens and others for the reformation of the power sector. The Minister of Power, Sale Mamman, who...

AfDB Grants $5m To AU For AfCFTA Permanent Secretariat       The African Development Bank Group (AfDB), said it provided a $5 million institutional support grant to the African Union (AU), to establish the African Continental Free Trade Area (AfCFTA) Secretariat, in Accra, Ghana. The Bank’s Vice-President, Private...

Nigeria Receives AfDB Financing For Rural Electrification Project     The Federal Government has received financing from the African Development Bank (AfDB), for the Nigeria Electrification Project (NEP), a nationwide initiative aimed at delivering energy access to underserved communities in the country. According to AfDB, the project supports...

AfDB Okays $27m To Boost AU’s COVID-19 Response Initiative     The African Development Bank (AfDB), has approved about $27.4 million in grants to boost the African Union’s (AU) efforts to mobilize a continental response to curb the COVID-19 pandemic. The approval came on the heels of a...

AfDB: Finally, Review Panel Clears Adesina     The coast appears finally clear for African Development Bank President, Dr. Akinwumi Adesina to be inaugurated for a second term in the office as the independent review panel cleared him of all allegations against him by the United States...

COVID-19’ll Cost Nigeria, Others $236.7bn GDP – AfDB     The outbreak of coronavirus in Africa could cost Nigeria, Togo and other countries on the continent $236.7bn in their cumulative Gross Domestic Product, the African Development Bank said on Tuesday. It said this in its report on African...