WATCH THE VIDEO HERE The African Development Bank Group has approved a new five-year Country Strategy Paper for Nigeria, committing about $650m annually between 2025 and 2030 to drive economic transformation, build resilience, and foster broad-based prosperity. The Bank disclosed this in a statement published on its website on Thursday, saying that $2.95bn would be provided over the first four years of the plan, to be complemented by an estimated $3.21bn in co-financing from development partners. The statement read, “The Board of Directors of the African Development Bank Group has a new five-year Country Strategy Paper (2025-2030) for Nigeria, committing about $650m annually to drive economic transformation, build resilience, and foster broad-based prosperity across the country. “Under the new strategy, the bank will provide $2.95bn over the first four years, complemented by an estimated $3.21bn in co-financing from development partners. The strategy focuses on two key priority areas: promoting sustainable, climate-smart infrastructure to enhance competitiveness and industrial development; and advancing gender and youth-inclusive green growth through industrialisation.”
AfDB launches $650m yearly economic support for Nigeria
