AFDB bailed Nigeria out of recession – Adesina



The President of the AFDB, Dr. Akinwumi Adesina, has disclosed that African Development Bank (AFDB) $1 billion emergency lifeline approval support to Nigeria bailed Nigeria out of recession.

Adesina said Nigerian portfolio rose to $6 billion with the approval of the lifeline while it is working to increase its investment to $8 billion by 2019.

Meanwhile, the Finance Minister, Mrs. Kemi Adeosun, lauded AFDB 2017 lifeline intervention, she implored the bank to complete the remaining $400 million of the intervention as Nigeria needs to expedite action on her economic challenges.

In another development, President Muhammadu Buhari commissioned the ultra-modern AFDB office outside its corporate headquarters in Abidjan, Cote d’ Voire in 54 years, corroborated the lifeline claim.


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