Projects
By Edith Ike-Eboh
Abidjan, May 3, 2018 (NAN) The African Development Banks (AfDB) says it is focusing more on private sector operations to implement its “High 5s” priority projects in Nigeria.
Ms Victorial Chisala, AfDB Division Manager, Corporate Performance and Accountability disclose this on Thursday in Abidjan while briefing Journalists on the Bank’s 2017 Annual Development Effectiveness Review.
She said that more focus was on the private sector because the government had almost capped its borrowing capacity with the bank.
The News Agency of Nigeria reports (NAN) that in his inaugural speech after taking office on Sept. 1, 2015, AfDB President Akinwumi Adesina laid out the five priority areas that the Bank will focus on to advance Africa’s transformative agenda over the next 10 years.
These areas are Light up Africa, Feed Africa, Industralise Africa, Integrate Africa and Improve quality of life for people of Africa.
“What I know when it comes to Nigeria is that it is almost at its cap at the borrowing capacity of the public sector, it is a challenge but also creates an opportunity because what the bank is doing now is to increase private sector operations in Nigeria.
“This means that we have to review our profile in Nigeria, we will need to increase our presence and also engage more with our partners,’’ she said.
She added that apart from partnering with the private sectors, the bank had also promoted other social sectors adding that the bank had increased its presence recently in the country.
She said that the bank had increased the number of its staff in Nigeria considering the population of the country.
This, she said would help the bank to operate effectively and meet up with the new challenges in the Country. (NAN)
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edited by Sadiya Hamza