Business
Africa’s Business, Expenditures To Rise To $5.6trn In Five Years –Adesina

The African Development Bank (AfDB) says the size of business and consumer expenditures in Africa will rise to 5.6 trillion dollars in five years.
This is contained in a speech delivered by AfDB President, Dr Akinwumi Adesina at African Leadership Persons of the Year Investiture Ceremonies and Awards Gala night at Johannesburg, South Africa last Saturday.
Adesina explained that the size of the food and agriculture business alone would reach one trillion dollars in just ten years.
According to him, with the African Continental Free Trade Area, the size of the economies will be 3.3 trillion dollars.
He said the Africa of the 21st century was keenly aware of its place in the world and determined to be a global investment haven.
“Over the past four years, we have helped 18 million people obtain access to electricity, 141 million people to agricultural technologies for food security, 13 million people to finance through private sector investee companies.
“And 101 million people to improved transport services, and 60 million people to improved water and sanitation.
“People such as cocoa farmer Antoine Mani Tonye from Cameroon who has seen healthy yields from the moment he began planting a locally adapted seed variety.
“People such as millet seller Robiro Kadokah from Togo whose business has been thriving since the opening of a new highway in his area.
“And people such as IT-specialist Jeanne Yam-fashije from Rwanda who helps girls in her country excel in science, technology, engineering and math.
“I truly believe there’s never been a more exciting time to be an African. Opportunities abound all around. African economies are growing well.
“ In 2019, 17 countries grew at 3.5 per cent and 20 countries grew at five per cent and above,” he stated.
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$5bn Train 7 Project 80% Complete -NCDMB
The Board stated this in a statement released by its Corporate Communications Directorate to newsmen, recently, during the inauguration of 140 trainees for the Train 7 Project.
The trainees had undergone the Nigerian Content Human Capacity Development (NC-HCD) programme it organised in partnership with the Nigeria Liquefied Natural Gas (NLNG) Limited in Port Harcourt, the Rivers State capital.
The Tide gathered that the training programme was an intensive three-month Advanced NC-HCD Programme for the US$5 billion NLNG Train 7 Project on Bonny Island, Rivers State.
The trainees, The Tide further learnt are graduates in different academic disciplines who have completed a 12-month Basic Training Programme in diverse oil-and-gas-industry-related skill sets and are now set for an on-the-job phase which includes active hands-on participation in operational areas such as Turn Around Maintenance (TAM), Commissioning, and Desktop Programmes.
The Corporate Communications Directorate of the NCDMB told The Tide that in November 2024, a set of 331 trainees under Batch A of the NLNG T7 HCD Training Programme began capacity development in facility management, engineering, Information and Communication Technology (ICT), Health Safety and Environment (HSE), Quality Assurance and Quality Control, as well as welding and fabrication.
According to the Board, additional 77 trainees under Batch B of the same Training Programme began capacity development in data analytics and supply chain management among several other fields relevant to the operations of the oil and gas industry.
While addressing the trainees and trainers who were drawn from the Oil and Gas Trainers Association of Nigeria (OGTAN), Management Personnel of the NCDMB and NLNG, the Executive Secretary of NCDMB, Engr Felix Omatsola Ogbe, said the Advanced NC-HCD training is more than a milestone.
“The NC-HCD training programme is an expression of the collective commitment of the Board and the NLNG to nurturing world-class Nigerian professionals who will shape the future of our oil and gas industry.
“The Board has remained steadfast in its conviction that Human Capital Development is a critical investment in the sustainability and competitiveness of Nigeria’s oil and gas value chain”, the NCDMB boss said.
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