Connect with us

Business

AfDB Spends $1.4bn On Nigerian Projects

Published

13 years ago

on

The African Development Bank (AfDB) last Thursday in Abuja put the value of its 27 ongoing projects in Nigeria at 1.4 billion dollars.

The bank’s Resident Representative in Nigeria, Mr Osumane Dore, gave the figure at a press briefing to highlight the bank’s achievements in the country.

Dore said that the public sector had 15 ongoing projects in the areas of agriculture, social sector, regional operations and infrastructure valued at 754 million dollars.

The private sector, he added had a total portfolio of 631 million dollars on 12 ongoing projects.

In 2012, he said that the bank, which has its headquarters in Tunis, approved 99 million dollars for urban water supply and sanitation projects in Zaria in Kaduna State.

“The bank also approved 34 million dollars for capacity building in public-private partnership in infrastructure.

“Both projects are still awaiting approval from the Federal Executive Council and the Nigeria parliament,’’ he said.

The representative named proposed projects in the long term to include Abuja urban transport, Port Harcourt urban water supply and sanitation and Lagos cable car.

He said, “In Nigeria, one of the issues that the bank wants to address is the over emphasis on the oil sector.

“Thus the bank has been thinking about how to generate income domestically.

“We are trying to find how we can bring the contribution of the non-oil revenue to some respectable level.

“We are also doing a flagship study on the infrastructure action plan on the Vision 2020.

“We want to look at the underlying constraint of the infrastructure like water, transport, electricity and others.

“This kind of analysis can help us to come up with an action plan that can help decision makers.”

Earlier, Ms Cecilia Akintomide, the bank’s Secretary-General, told reporters via a teleconference in Tunis that preparation for the 47th annual meeting in Arusha, Tanzania was on course.

She said that the meeting, which will hold from May 28 to June 1, will have the “most dialogue and most reflection’’ on Africa’s growth economy and its place in emerging global landscape.

The conference’s theme is “Africa and the Emerging Global Landscape: Challenges and Opportunities.”

She said that “2012 is the last year of our Medium Term Strategy; so, we are looking ahead on what is going to chart our operations for the future.

“What is going to be special for Africa of the future? And how should the bank accompany that Africa of the future to realise our development vision?’’.

Akintomide said the financial statements and performance of the AfDB would also be on the agenda during the meeting expected to attract more than 2,500 participants.

Related Topics:
Continue Reading

Business

NPA Assures On Staff Welfare 

Published

4 days ago

on

June 27, 2025

By

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

4 days ago

on

June 27, 2025

By

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NSC, Police Boost Partnership On Port Enforcement 

Published

4 days ago

on

June 27, 2025

By

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
Continue Reading

Trending