Daily Trust

AfDB galvanises partners to drive investment­s in Nigeria

- By Chris Agabi

The African Developmen­t Bank (AfDB) has said it will galvanise some developmen­t partners and financial institutio­ns to drive investment­s in Nigeria.

The AfDB President, Dr. Akinwumi Adesina, said this on Tuesday as a panelist at a one-day investors’ webinar to showcase the investment opportunit­ies from the Federal Government of Nigeria’s reform and privatisat­ion activities.

He said the constructi­on of the LagosAbidj­an highway, which is expected to commence from next year, would unlock 85 per cent of trade within the ECOWAS sub-region.

Mr. Adesina said some of the basket of investment­s opportunit­ies include: direct lending, equity participat­ion, derisking facilities, and the platform of the Africa Investment Forum platform to support the government, and other key stakeholde­rs, implement bold and innovative approaches to drive private sector participat­ion and investment­s in the economy.

He said Nigeria’s infrastruc­ture deficit is one of the main constraint­s to industrial developmen­t and national competitiv­eness.

Adesina who was represente­d by the Director-General, AfDB Group, Nigeria Country Department, Mr. Lamin Barrow, noted that this why the AfDB is supporting the government’s efforts in addressing the infrastruc­ture deficit in Nigeria through developmen­t of both national and regional infrastruc­ture.

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