Browsing: Dr. Akinwumi Adesina

“Our support last year alone provided 3.8 million Africans with access to electricity. And, with adequate financing, we expect to reach 29.3 million people with access to electricity between 2018 and 2020,” Adesina said.

Dr. Adesina noted that recession in Nigeria is due to an estrogenic shock in the sense that the price of oil had gone down, adding that, Nigeria is not the only country in recession but rather all oil exporting countries that depend for the greater share of their revenue in foreign exchange earnings.

The bank launched a new deal on energy for Africa, which is built on five inter-related and mutually reinforcing principles: raising aspirations to solve Africa’s energy challenges; establishing a transformative partnership on energy for Africa, and mobilising domestic and international capital for innovative financing in Africa’s energy sector.