Business
‘AfDB’s Investment In Nigeria Stands At $4.5bn’
The African Development Bank (AfDB) says its level of investment in Nigeria stands at $4.5 billion as at March 2019.
The Media Relations Officer of the bank, Mr Emeka Anuforo, made this known in a statement in Abuja, yesterday.
Anuforo explained that the bank’s active portfolio in the country comprised 60 operations which included 28 public sector operations.
“At the end of March 2019, the bank’s active portfolio in Nigeria comprises 60 operations with total commitments of US$4.5 billion.
“These include 28 public sector operations with total commitments of US$1.7 billion (21 national and seven regional); 34 non-sovereign operations with total commitments of US$2.8 billion,” he said.
Meanwhile, the Media Relations Officer said the AfDB’s President, Akinwumi Adesina who visited President Muhammadu Buhari on Tuesday in Abuja, thanked him for his support to the bank and pledged the AfDB’s commitment to fast tracking Africa’s development.
He said that Adesina also highlighted several reforms at the bank and strategic efforts to moving the bank’s operations closer to countries.
Anuforo quoted Adesina as saying that “the bank’s robust operations in Nigeria have had significant results and impacts on the ground, and continued to accelerate the country’s economic transformation as well as improved the lives of millions.” he said.
He said, following Nigeria’s request to the bank, Adesina reported that the United Nations Secretary-General, Antonio Guterres, had accepted to co-chair a multi-billion fund-raising session to revive the Lake Chad, a strategic effort that had major climate, economic, agricultural and employment implications for the region.
Anuforo also quoted President Buhari as commending the AfDB for its successes and pledged Nigeria’s continuous support for the institution.
“I want to recognise the support that the African Development Bank has given Nigeria in recent times.
“I remember the bank’s critical gesture in 2016 during the difficult period of economic recession through a US$600 million budget support facility.
“We appreciate this and assure you that we will continue to work towards a diversified Nigeria,” he stated.
According to him, Buhari also applauded the bank’s interventions in infrastructure and agriculture, and encouraged the institution to keep supporting countries like Nigeria to grow agriculture as a business through the promotion of agro-industrial zones in the country.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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