AfDB Blacklists 40 Nigerian Firms, Individuals In Four Years   The African Development Bank has blacklisted at least 40 Nigerian firms and individuals for engaging in corrupt practices, fraud and collusive practices between 2017 and 2021, according to data obtained from the bank’s website. The AfDB said...

Poor Transportation, Port Facilities, Power Killing Nigeria’s Manufacturers – Adesina   The President of the African Development Bank Group, Dr. Akinwumi Adesina, says the lack of stable electricity in Nigeria is killing industries in the country, adding that based on an International Monetary Fund report, about...

Nigeria’s Debt Service To Revenue High – AfDB President   President of the African Development Bank (AfDB), Akinwumi Adesina has said Nigeria’s debt service to revenue ratio is high. Adesina who made the disclosure yesterday at the opening of a two-day mid-term ministerial performance review retreat in...

Africa Lost Over $190bn In GDP To COVID-19 – AfDB       President of the African Development Bank Group (AfDB), Dr Akinwumi Adesina, yesterday said the economy of Africa has lost over $190 billion due to the effect of the COVID-19 pandemic. Adesina, during the AfDB’s 2021 virtual...

AfDB To Invest $3bn In Africa’s Pharmaceutical Industry         The African Development Bank (AfDB) has said it would invest 3 billion dollars to build Africa’s pharmaceutical industry in the next 10 years. President of the AfDB, Dr Akinwumi Adesina, said this at a virtual Finance in Common...

Africa’s Climate Change Impact Rises To $50bn Annually       The African Development Bank (AfDB) has said the impact of climate change on the continent could rise to $50 billion each year by 2040, with a further three per cent decline each year in gross domestic product...