Business
AfDB Values 46 Projects At $3.9bn
The Country Director,
African Development Bank (AfDB), Dr. Ousmane Dore, said that the bank’s current portfolio of 46 projects was valued at 3.9 billion dollars.
This is contained in the bank’s newsletter, May edition, issued by its Nigeria Country Office in Abuja, yesterday.
Dore made the remarks at the Bank’s Country Strategy Paper (CSP) Medium-Term Review (MTR) workshop.
“The bank’s current portfolio of 46 projects is valued at 3.9 billion US dollars.
“The importance of deepening policy dialogue is to enable the bank to improve the quality of the bank portfolio,’’ Dore said.
He explained that project implementation issues were discussed at the workshop.
He added that the bank like, several development partners, faced challenges in project implementation due to signature delays, lack of counterpart funding and protracted process of setting up project management teams.
“There is urgency on the part of the Federal Government to address the bottlenecks and ensure effective project implementation.
Dore said that participants called on the bank to adopt more flexible and faster procedures for continuous sensitisation of MDAs on its rules and regulations.
He said that development partners as well were urged to improve donor coordination and harmonisation through co-financing arrangements and streamlining of procurement processes.
Participants acknowledged the importance of adjusting the CSP to respond to the new development priorities of the country in particular, targeted social protection programmes aimed at addressing the increased fragility and vulnerability in the North East.
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Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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