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AfDB Pledges Support for Nigeria’s Power Sector

By Iorwuese Anaana

AfDB Pledges Support for Nigeria’s Power Sector

African Development Bank (AfDB) has promise to support Nigeria in the area of boosting power supply.
Its Country Director, Mr Ebraima Faal, who spoke in Abuja when he presented his letter of credence to the Minister of Foreign Affairs, Mr Geoffrey Onyeama said the bank would support Nigeria’s quest to find lasting solution to its power problem and its power recovery strategies.
Mr. Faal, also said the bank will also empower 36,000 youths across 36 states of the federation through agriculture. “We are looking at power project at the moment and we are discussing with the power ministry how best the bank can support the power recovery strategies,” the director said.
He added that the bank has about two tasks at the moment on how it can assist Nigeria in its quest to solve its power problem.
On the part of agriculture, the director said: “We are also looking at youth empowerment programme, how to empower the youths in 36 states and essentially providing job for at least 36,000 youths and of course their extended family.”
He said the bank had been supporting and would continue to support Nigeria.
“On the contribution of the AfDB to Nigeria, we have a very large programme in Nigeria to match the size of the country; it is about $6 billion. It has grown significantly over the last few years; I think we have been investing about $1.5 billion a year both in the public and private sectors.
“About 60 per cent of our portfolio is in the private sector, we have focus on agriculture, our priority area mainly is on power and feeding Africa which is agriculture,” he said.

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