There is a whole lot of confusion around/about Petrol Subsidy. That has always been so. Perhaps to do with the nature of oil and trade in the product. The Oil industry, especially in Nigeria, comes across as one sworn to a frustrating level of opacity. That is even more so on issues to do with…
By Simbo Olorunfemi “It always seems impossible until it’s done” – Nelson Mandela By all standards, the commissioning of the Dangote refinery and petrochemical project after almost 10 years since the dream was conceived is a phenomenal statement on the fact that nothing is impossible if we will draw to dream, set our minds to…
5 African Development Bank Governors have signed an agreement committing to contribute at least $1 million to the replenishment of the African Development Fund (ADF), the concessional window of the Bank Group. Under the self-initiated agreement, the five-member constituency—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—will contribute to the ADF from its next replenishment cycle…
The Board of Governors of the African Development Bank Group has approved Management’s request to leverage the equity of the African Development Fund, its concessional lending window, to mobilize more resources on the capital markets. When fully implemented, the Bank Group could unlock up to $27 billion to help low-income and fragile states., Bank Group…
Mauritania has set forth plans for hydrogen projects that could potentially generate an impressive 80 GW of electrolyser capacity. This pipeline is being planned by several renowned companies, including CWP, Chariot, bp, Conjuncta, and Infinity, and while the aspirations for Mauritania to become a green hydrogen hub are significant, two main challenges lie ahead: financing…
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has been announced as one of the winners of this year’s National Productivity Order of Merit (NPOM) Award. According to a statement issued by NCC’s Director, Public Affairs, Reuben Muoka, the announcement was made in an advertorial signed by the Director…
“We act in these matters in the right, as a matter of high principle. We act out of the integrity and conviction of our most deep-founded beliefs. If we permit ourselves to be tempted by narrow self-interest and vain ambition, if we barter our beliefs for short-term advantage, who will listen when we claim to…
I wish to congratulate you Mr. President for your stewardship of Nigeria for the past eight years. Thank you very much for all your strong support for me, as President of the African Development Bank Group. Without your strong support for me in 2015, and then in 2020, I would not have been President of…
African Development Bank Group has highlighted its critical contributions to the continent’s development and the wellbeing of its people in 2022. The Annual Development Effectiveness Review published yearly since 2011, assesses the Bank’s support to the sustainable development of African countries. It specifically monitors contributions to the Bank’s High 5 strategic priority areas driving Africa’s…
Africa is set to be the second-fastest growing region in the world after Asia in 2023-24, demonstrating the resilience of its economy despite dealing with multiple global shocks. But the projected growth will depend on global conditions and the continent’s ability to bolster its economic resilience, the African Development Bank’s 2023 African Economic Outlook report…
