AfDB invests $1.9bn on infrastructure in Nigeria – Country Director

Dr. Ousmane DORE, Country Director, African Development Bank27 July 2014 – The African Development Bank, AfDB, has invested $1.9 billion (N311.6 billion) in infrastructure development in Nigeria in the last 42 years, according to the Country Director, Dr Ousmane Dore.

Speaking on Thursday in Abuja, Dore said that the bank had committed a cumulative of 6.4 billion dollars (about N1.05 trillion) to different sectors of the country’s economy as at December 2013.

According to him, the current public sector portfolio of the bank stands at 921.2 million dollars (about N151 billion) of which 701.5 million (about N115 billion) is allocated to infrastructure projects.

Dore said that the bank had been supporting infrastructure development since it commenced lending operations in Nigeria in 1972.

The country director told NAN that over 70 per cent of the bank’s operations were directed at infrastructure development.

He said that some of the bank’s early support to infrastructure development included the reconstruction of Enugu and Calabar Airports, launched in 1972 and 1974 respectively.

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