The African Development Bank (AfDB) President Akinwumi Adesina stated that the bank is set to approve a $1 billion for budget support for Nigeria next month, according to ESI-Africa.

AfDB to approve multi-billion funds for Nigerian power projects

The African Development Bank (AfDB) President Akinwumi Adesina stated that the bank is set to approve a $1 billion for budget support for Nigeria next month, according to ESI-Africa.

He added that the AfDB will increase its loans in Nigeria to $4.1 billion in two years, and $10 billion by 2019, making more funds available for the projects aimed at increasing electricity generation and transmission capacity.

Source: ESI-Africa