• Nigeria has liquidity problem, not debt crisis – Adesina

    Nigeria has liquidity problem, not debt crisis – Adesina

    The President of the African Development Bank, Dr Akinwumi Adesina, has dispelled the fears being expressed in some quarters about the country being in debt crisis.

    He made the clarification while addressing State House Correspondents after a delegation of the bank met with Vice President Yemi Osinbajo and the Economic Management Team.

    Adesina said the country was facing tough times but added that it was not in debt crisis but rather having liquidity problems.

    He said, “We are here to provide very strong […]

  • AfDB approves $1bn loan for Nigeria

    AfDB approves $1bn loan for Nigeria

    The African Development Bank (AfDB) has approved $1 billion loan towards meeting the deficits in Nigeria’s 2016 Budget, believed to partly responsible for the country’s economic crisis.

    The loan is provided at 1.2 percent interest rate.

    AfDB President, Dr. Akinwunmi Adesina, disclosed these to State House correspondents on Monday after meeting with Vice President and other members of the Economic Management Team (EMT) at the Presidential Villa, Abuja.

    Stressing that Nigeria is the largest shareholder of the bank, Akinwunmi said the bank is […]

  • Finally! Goodluck Jonathan’s Ex-Minister To Advice Buhari On Economic Recession In Abuja

    Finally! Goodluck Jonathan’s Ex-Minister To Advice Buhari On Economic Recession In Abuja

    The African Development Bank (AfDB) has announced that Dr. Akinwunmi Adeshina, its president and former minister of agriculture under ex-president Goodluck Jonathan, will visit Nigeria today, Monday, September 26 to meet with President Muhammadu Buhari.

    The AfDB says Adesina will “meet policy-makers, the private sector, and development partners to discuss the challenges facing Nigeria and highlight the AfDB’s commitment to further strengthen its partnership with Nigeria”.

    “I am very much looking forward to my first official visit to Nigeria as President of […]