African Development Bank to Add $2 Billion to Nigeria Loans
- Lender to boost investments in power, infrastructure, farming
- AfDB to raise total credit to Nigeria to more than $8 billion
Photographer: George Osodi/Bloomberg
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The African Development Bank plans to increase its loans to Nigeria by more than $2 billion next year with investments in energy, infrastructure and agriculture, its President Akinwumi Adesina said.
“The total portfolio we have in Nigeria is $6 billion,” Adesina said in a Jan. 18 interview in Abuja, the capital. “We expect that by the year 2019, we will grow that into a little bit over $8 billion.”