Home Business AfDB pledges $1b in budget support to Nigeria

AfDB pledges $1b in budget support to Nigeria

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Image result for akinwumi adesina AfDBThe African Development Bank has pledged one billion dollars in budget support to Nigeria.

This is apart from a total of 751 million dollars in different packages being offered to help the country to overcome some of its challenges.

President of the African Development Bank, Akinwunmi Adesina made these disclosures on Monday during an official visit to the Presidential Villa.

Adesina had on getting to the Presidential Villa, first met with Vice President Yemi Osinbajo and the Economic Management Team, commending the economic decisions taken so far as bold, tough but steps in the right direction.

The AFDB is prepared to offer its support for Nigeria in this venture, with such packages as: 1 billion dollars for budget support, 300 million dollars to create jobs for 185,000 youths and 250 million dollars towards the North East infrastructure development.

The Regional Bank will also provide a 1 million dollar grant to deal with challenges of Internally Displaced Persons (IDPs), and 200 million dollars to deepen the facilities of the Transmission Company of Nigeria, among others.

The Buhari Administration appears to be reaping the benefits of its decision to throw its weight behind Dr Adesina’s run for AfDB presidency.

The former Minister of Agriculture is the first Nigerian to occupy the position since the bank was established in 1964.

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