AfDB restates commitment to strengthening Nigeria's agriculture, power sectors

Dr. Akinwumi Adesina, President of AfDB (L) and President Bola Ahmed Tinubu, in France

FRANCE - Dr. Akinwumi Adesina, President of the African Development Bank, in a recent meeting with President Bola Ahmed Tinubu in France, applauds the Nigerian leader for his boldness, vision, and determination regarding macroeconomic stability and fiscal stability in the economy.

The African Development Bank (AfDB) has assured President Bola Ahmed Tinubu that the transnational Bank will support his administration’s efforts and vision in improving the agriculture and power sectors in Nigeria.

Dr. Akinwumi Adesina, President of AfDB, stated this after meeting with President Tinubu, while speaking with reporters on the sidelines of the just concluded New Global Financing Pact summit in Paris, France.

ConsumerConnect reports the 2023 New Global Financing Pact summit was hosted by French President Emmanuel Macron, in Paris.

**Advertisement**

The AfDB Chief also assured the Nigerian President that it was a great opportunity for him to see Tinubu.

Adesina commend him for the thoughts and ideas he has brought to the Paris summit among other global issues discussed at the forum.

What I discussed with President Tinubu in France -Adesina

The President of AfDB further disclosed the details of the meeting: “I discussed with His Excellency the President about a couple of things, first of all, agriculture, to see what we can do to support the government with regard to Mr. President’s vision in agriculture.

“We discussed special agroindustrial processing zones, for which we already have about $520 million for Nigeria, and how we are going to make sure that that project actually gets accelerated.”

Adesina noted: “The other one that we talked about is the power sector, how we will bring support to his effort, his vision, and that of his government with regard to access.

“The President wants to ensure that there is access to electricity in Nigeria, and therefore he talked to us about how we can support him, and I gave him the assurance that we will significantly support the power sector in Nigeria.”

He as well lauded the Nigerian leader for his boldness, vision, and determination with regard to macroeconomic stability and fiscal stability for Nigeria.

On fuel subsidy removal, unification of Forex rates

Adesina also observed Tinubu’s pronouncement on the removal of petrol subsidy would help Nigeria significantly.

The Forex unification will also free up access to forex and also make Nigeria’s currency much more competitive in terms of export competitiveness for the things that the country produces, said he.

Adesina, therefore, described the recent moves by the Bola Tinubu administration as the right signals being sent to investors.

According to him, the international community acknowledges these policy decisions, which will also attract a significant amount of investment into Nigeria.

#AN#

Comments

CBN sets 15kobo per transaction limit for contactless payments

ABUJA - The Central Bank of Nigeria (CBN) has just released a circular announcing the new transaction limits for contactless payments in the country, effective June 27. The circular was signed by Musa Jimoh, the bank's Director of Payment Systems Management Department, made available via the verified Tweeter handle of the bank. According to the CBN’s Guidelines on Contactless Payments in Nigeria, contactless payments through accounts or wallets in Nigeria will have a transaction limit of N15,000 and a daily cumulative limit of N50,000. This means that customers can make contactless payments of up to N15,000 per transaction and up to N50,000 per day without entering their PIN or biometric verification. The move is aimed at enhancing the security and convenience of contactless payments, which use technologies such as Near Field Communication (NFC) and Quick Response (QR) codes to enable customers to pay without physical contact with the merchant or the payment terminal. **Advertise...

Unruly passenger of Ibom Air faces flight disruption charges -- NCAA confirms

Editor 1 LAGOS -- The Nigeria Civil Aviation Authority (NCAA), has confirmed that the unruly passenger in the Ibom Air saga, Ms Chiamaka Ubani, was on January 10, docked at Uyo Magistrates' Court by the Nigerian Police for flight disruption charges. This was confirmed by the authority's Director, Public Affairs and Consumer Protection, Mr Micheal Achimugo in a post on his official X handle. Achimugo said that the defendant is facing a two-count charge bordering on intentionally and maliciously causing obstruction and public nuisance. According to him, she intentionally and maliciously prevented the door of the aircraft from closing and causing obstruction of flight Q1528 from flying, thereby committed an offence punishable under section 436 of the criminal code, Cap. 39, Vol. 2, laws of Akwa Ibom State." While on count 2, Ubani constituted herself into a public nuisance by obstructing flight Q1528 from flying at the scheduled time, an act which caused inconvenience or da...

Finchglow Holdings Chairman praised as he receives Honorary Doctorate

Editor 1 LAGOS - Finchglow Holdings has celebrated its Chairman, Mr. Kolawole Adesina, who was recently awarded an honorary doctorate degree of science (D.Sc) at the 55th Convocation ceremony of the University of Lagos. Mrs. Temilade Adu, Public Relations Manager, Finchglow Holdings made the disclosure in a statement on Sunday. This prestigious recognition highlights Dr. Adesina’s significant contributions to leadership and nation-building, as well as his dedication to advancing the energy and infrastructure sectors in Nigeria and beyond. Adesina, who serves as the Group Managing Director of Sahara Power Group, an energy and infrastructure organisation with operations in 42 countries, was celebrated alongside other distinguished individuals for their exceptional impact on Nigeria’s development. Commenting on the recognition, the Group Managing Director of Finchglow Holdings, Mr. Bankole Bernard said: "This honor is a reflection of Dr. Adesina’s relentless drive for transfor...

AlatNews

Search This Blog