President Buhari welcomes transformative role of African Development Bank

Abuja, Nigeria, April 25, 2019 – In a meeting with the President of the African Development Bank in Abuja, Nigeria's President, Muhammadu Buhari, congratulated the Bank for its success and pledged Nigeria's continued support for the institution.

"I want to acknowledge the support that the African Development Bank has given to Nigeria in recent times. I remember the Bank's critical gesture in 2016 during the difficult period of economic recession, thanks to a $ 600 million budget support mechanism. We appreciate that and we badure you that we will continue to work for a diverse Nigeria, "said President Buhari at the meeting with Bank President Akinwumi Adesina, which was attended by some of the country's ministers and senior officials.

President Buhari praised the Bank's interventions in the areas of infrastructure and agriculture and encouraged the institution to continue badisting countries like Nigeria to develop agriculture as a commercial activity. promotion of agro-industrial zones in the country.

The President of the African Development Bank, Akinwumi Adesina, thanked President Buhari for his support of the Bank and pledged his commitment to accelerate Africa's development.

Adesina also highlighted several Bank reforms and strategic efforts to bring its operations closer to the countries.

"The robust operations of the African Development Bank in Nigeria have had significant results and impacts on the ground and continue to accelerate the country's economic transformation and improve the lives of millions of people."

By the end of March 2019, the Bank's active portfolio in Nigeria had 60 operations for a total of $ 4.5 billion in commitments. These include 28 public sector operations representing a total commitment of US $ 1.7 billion (21 national and 7 regional); 34 non-sovereign operations with total commitments of US $ 2.8 billion.

Following Nigeria's request to the African Development Bank, Adesina announced that UN Secretary-General Antonio Guterres has agreed to co-chair a multi-billion fundraising session to revitalize Lake Chad, a strategic effort very air conditioned, economic, agricultural and employment implications for the region.