The African Development Bank is working on giving Nigeria loan facilities of $4.1bn between now and next year for critical sectors of the economy. The loans include $1bn at a concessionary interest rate of 1.2 per cent for Nigeria to address the 2016 budget deficit...

The President, African Development Bank, Mr. Akinwumi Adesina, says huge capital is available in Africa. Adesina, therefore, urged the continent’s governments to boost tax revenue and steer clear of international borrowing as the region grappled with its worst economic slump in more than a decade. Adesina...

The Federal Government is set to borrow $1bn from the international capital market to fund its expansionary budget and stimulate economic growth as inflation, slow growth and other challenges continue to hit the economy. Consequently, the Debt Management Office is seeking two lead managers and...

Abia state government is inching closer to sealing a deal with the African Development Bank (AfDB) for a $200 million loan facility to be used for the rehabilitation of infrastructure, especially in the commercial city of Aba. It emerged that the deal was in the...

The Country Director, African Development Bank (AfDB), Dr Ousmane Dore, has earmarked 175 million dollars for Agricultural Transformation Agenda Support Programme (ATASP-I) as instrument for consolidating the bank’s investments in Nigerian agricultural sector. The latest edition of the bank’s newsletter, issued by its Nigerian Country...

To secure $3bn WB, AfDB loan Naira depreciates to N375/$ As depreciation impairs terminal operators’ earnings by 238% —Report   The Federal Government has said it would issue $1 billion Eurobond in the third quarter of this year towards its securing of $3 billion loan...