The African Development Bank wishes to categorically refute the statement that it has “called off loans to Nigeria”, as reported in Reuters and credited to AfDB Vice-President for Power, Energy, Climate and Green Growth Amadou Hott.
There is strong indication that after cement, Nigeria's steel industry is the next sector to watch as African Industries Group, the largest steel manufacturer in the country, has started exporting the product to Morocco, Egypt and Ghana.
In 2015, the Government of Nigeria requested World Bank support to respond to the humanitarian and development crisis in the North East of Nigeria.
In line with the Presidential mandate of rehabilitating the nation’s three refineries, the Nigerian National Petroleum Corporation has inaugurated eight committees charged with returning the refineries to their nameplate capacities by the year 2019.
Dangote Group has in Minna, Niger State signed a Memorandum of Understanding (MoU) with the State Government for the establishment of a jumbo $450million state-of–art and fully integrated sugar complex.
The Nigerian National Petroleum Corporation has said the West African Gas Pipeline would be extended from Ghana to Cote d’ Ivoire as part of the Federal Government West African energy integration policy.
The Federal Government has said it relies heavily on the Dangote refinery to fulfill its promise to Nigerians to end fuel importation by December 2019.
Acting Nigerian President, Prof. Yemi Osinbajo has inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at a cost of $1.5 billion.
East Africa continues to maintain its lead in regional growth in Africa reaching 5.3% in 2016 Real GDP growth. The economic success of Ethiopia is attributable to its desire to grow its economic base amidst structural challenges.
Nigeria’s Ministry of Budget and National Planning, in collaboration with the Sub-Regional Office for West Africa of the Economic Commission for Africa (ECA) have launched the 2016 Country Profile for the Country.