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Economy

AfDB tasks Nigeria on food exportation

AfDB tasks Nigeria on food exportation

By Mustapha Sumaila
Export
Abuja, Aug. 27, 2019 (NAN) The African Development Bank (AfDB) has advised Nigeria to formulate appropriate and sustainable strategies to promote agro-industrialisation to foster domestic and export competitiveness in the agro-business industry.

The statement by the bank’s Communication and External Relations Department, reported Prof. Banji Oyelaran-Oyeyinka, Senior Special Advisor on Industrialisation to AfDB President to have given the advice at an event on Tuesday.

It further disclosed that Oyelaran-Oyeyinka gave the advice at the Feed Nigeria Summit 2019 held in Abuja.

He explained that once such strategies were put in place, the outcome would generate jobs, reduce poverty, improved livelihoods and quality of lives through increased contribution of manufacturing to Gross Domestic Product (GDP).

He said Nigeria like other African countries needed to focus on exporting processed agro-products in general.

The advisor said it was important to identify which were priority products for individual countries in terms of food security and export advantage.

“There are various possible explanations for the lagging capabilities in agro-industrialisation as well as the subsequent declining exports from Africa particularly in high-value agro-products.

“Firstly, the products may be qualitatively inferior and as such non-competitive for high-income international markets.

“Secondly, the productivity of African farmers is low, compared to other developing countries. This is because human and technological capabilities including advanced knowledge and mechanisation are disturbingly in short supply.

“We need to unravel the factors underlying the production and exports of agro-products from Africa that have been steadily declining over the last several years.

“This is an age when the most profitable markets are in semi-processed and processed products and the narrative of our region as the toiler for, and supplier of, raw materials for foreign factories must end if we must attain the core SDG goals.

“We must attain all goals especially 1-3 and eight: “end poverty,, end hunger, good health and Well-being, decent work and economic growth,” he said. (NAN)
MS/MST
Edited by Muhammad Suleiman Tola

Economy

70% of African migration occurs within continent – AfDB

70% of African migration occurs within continent – AfDB

By Mustapha Sumaila
Migration
Abuja, March 5, 2019 (NAN) The African Development Bank (AfDB) says 70 per cent of African migration occurred within the continent while Africans accounted for 10 per cent of the 258 million people who migrated worldwide.

Mr Aristide Ahouassou, Communications Officer of the bank, said this in a statement in Abuja on Tuesday.

Ahouassou quoted the bank’s Senior Vice-President, Charles Boamah, as making the remark during the third annual Africa Resilience Forum (ARF) in Abidjan.

Boamah explained that understanding migration was, therefore, important for the bank because it helped to provide options to support programmes that would reduce migration flows at the same time as increasing yields.

”Most of the discourse on African migration focuses on the Mediterranean, it is important to stress that general intra-African migration accounts for 70 per cent and this percentage rises to 80 per cent for sub-Saharan Africa.

”A plenary specifically dedicated to innovative solutions in the field of migration, including financial solutions, will highlight how poverty and low employment prospects become powerful drivers of migration and instability.

”This year’s theme, fragility, migration and resilience, could not be more pertinent, because we are going to focus on several issues, including the relationships between migration, humanitarian issues and security.

”Others are youth and job creation; migration and gender; and climate change and the impact on the environment,” he said.

According to him, the debates held at the forum will benefit from the new Country Resilience and Fragility Assessment (CRFA)’s tool, which uses the concept of the internal and external pressures on countries and their capacity to address these.

He said that migration challenges required bold responses, in this regard, the bank had developed tools to address that.

”The CRFA is an excellent tool to build resilience in our regional member countries and the bank is also working on migration in collaboration with the African Union, the United Nations Economic Commission for Africa (UNECA), African civil society and African businesses,” he said.

He said that in 2011, the bank provided substantial assistance to Libyan refugees in Tunisia; in 2015, it extended its aid to refugees in Djibouti, as well as similar projects in Burundi, Mali, Nigeria, Senegal and Zimbabwe.

He disclosed that the bank had also launched the ”Jobs for Youth in Africa” programme, which offers young Africans employment, particularly in the agricultural sector, and to prevent youth from succumbing to the temptations of migration.

He said that more than 400 participants from around the world were taking part in the forum, which would propose concrete actions to address the challenges posed by migration and to help build resilience within the 21 African countries classed as fragile. (NAN)
MS/FF/MST
Edited by Fela Fashoro/Muhammad Suleiman Tola

General news

(Video) NAN News Highlights for Tue., July 10, 2018

 

  1. UN Secretary-General Antonio Guterres has appealed to the international community to take action against the flow of illegal funds, money-laundering and tax evasion, which cost Africa some 50 billion dollars annually.

Guterres emphasized the need for African resources to remain in Africa to support development of the continent.
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  1. Africa Development Bank Group has called for the creation of partnerships to finance infrastructure and other projects to accelerate economic development and transformation in Nigeria.

Mr Ebrima Faal, Senior Director, Nigeria Country Office, AFDB Group who made the call at the Africa Investment Forum held in Abuja, said Nigeria’s infrastructure asset class was ripe for greater investment.

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  1. The Niger Area Command of the Nigeria Customs Service says it has stepped up security at the border posts to curtail illegal trade and prevent contraband from entering the country.

Mr Benjamin Binga, Comptroller of Customs in charge of Niger, Kwara and Kogi Commands, said that the effort resulted in the interception of a truck conveying 189,000 live cartridges at Banana Border Post from Benin Republic.

Binga said the command would leave no stone unturned to curtail the activities of smugglers in the country.

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  1. Amaju Pinnick has failed to stop Chris Giwa from operating in Glass House as Nigeria Football Federation President as his lawyer, Festus Keyamo, had to withdraw his earlier motion filed at the Federal High Court in Jos, Plateau State.

Keyamo had filed a motion asking the Presiding Judge, Justice Musa Kurya, to excuse himself from the case to enable the Chief Justice of the Federation to assign it to another judge.

Kurya, at the end of proceedings, adjourned continuation of hearing in the case until Sept 25 for NFF judgment.

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  1. All twelve members of the Thai youth football team and their coach have been rescued alive, two weeks after they were trapped in a flooded cave.

Thai Navy Seals said a medical team at the site examined the boys and their coach immediately they were brought out before waiting ambulances transported them to a nearby hospital.

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  1. A Chinese court has sentenced, to death, a man convicted of stabbing and killing nine students in an attack on his old school triggered, in part, by anger he felt over bullying he suffered there as a child.

Yulin City Intermediate People’s Court said the suspect, identified as Zhao Zewei, bought five knives online for his attack on the school in Shaanxi Province, to vent his anger and frustration about the bullying he had been subjected to.

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Foreign

AfDB to support Nigeria, others to boost development in Africa

Policy

By Edith Ike-Eboh

Abidjan, May 7, 2018 (NAN) The African Development Bank (AfDB) plans to support Nigeria, Senegal, Ethiopia, Morrocco and Algeria with industrial policies to boost development in Africa.

Mr Alhassane Haidara, Manager, Industrial Development disclosed this in an interview with the News Agency of Nigeria (NAN) in Abidjan.

According to him, the bank in partnership with UNIDO will help the countries to develop policies that will drive industrial development in various sectors of the economy.

This, he said would go a long way to boost economic development and increase Foreign Direct investment.

He said the bank would also through the policies  support capital markets by boosting the market liquidity.

He added that the policies would support the growth of Small businesses adding that industrial clusters would be established in all the five regions in Africa.

“ This project is going to be in a pilot scheme, if we are successful with the five countries, we will replicate in many other countries in the region,’’ he said

NAN reports that the theme for the bank’s 2018 Annual meeting of the bank is “Industrialising Africa’’

the Annual meeting will be held in Busan, Korea from May 21st to 25th.

The theme is one of the high fives priority projects of the bank which majorly focused to how best to transform Africa.

(NAN)

ENO/SH

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edited by Sadiya Hamza

Environment

NBA launches $300m AfDB fund for Niger Basin

Launch
By Tosin Kolade
Abuja, April 6, 2018 (NAN) The Niger Basin Authority (NBA) has launched a 300-million-dollar fund with the African Development Bank (AfDB) for technical and environmental studies to protect the basin from the consequences of climate change.

 

The Executive Secretary of NBA, Dr Abderahim Hamid, made this known on Friday at the opening of the 36th Ordinary Session of the Council of Ministers of NBA in Abuja.

 

The project, which is the Programme for the Integrated Development and Adaptation to Climate Change in the Niger Basin (PIDACC), would promote the adaptation of mechanisms to manage the depletion of the basin.

 

Hamid said that it was important for NBA member countries to make additional efforts through contributions and strengthening of human capacities towards improving the people’s livelihoods.

 

“I would like to request for member countries’ political and financial support and their ownership of NBA actions, so as to create favourable conditions for the people, especially in efforts to engage the youth of the basin.”

 

He pledged that the authority would continue to improve governance without forgetting the current difficulties in trans-boundary basin management.

 

The Minister of Water Resources, Mr Suleiman Adamu, said that the degradation of the environment in the Niger River Basin and its impact on the natural resources were the major concerns of countries, adding that the solutions entailed strengthened cooperation.

 

He said that the combined phenomena of climate change and population growth as well as irrational and abusive exploitation of natural resources had been having adverse consequences on the social-economic activities in the basin.

 

Adamu said that it was saddening to note that the Niger Basin Area, with a population of more than 130 million, was facing myriad challenges despite its richness and its diversity.

 

He underscored the need for the member countries to promote the development of the region by showing more commitment via the payment of their contributions.

 

Adamu urged them to pursue programmes such as the implementation of major integration projects and the Silting Control Programme in the basin, among others.

 

He also noted that programmes such as Reversing Land and Water Degradation Trends in the Niger Basin and the Water Resource Ecosystems Programme had been of great importance to the survival and development of the basin.

 

The minister restated the commitment of the Federal Government to fast-tracking the development of the basin, so as to achieve the overall goal of improving the livelihoods of the residents of the area.

 

News Agency of Nigeria reports that the Niger Basin Authority has nine-member countries – Benin Republic, Burkina Faso, Cameroon, Cote d’Ivoire, Guinea, Mali, Niger, Nigeria and Chad.

 

The population of the basin is approximately 130 million inhabitants and 70 per cent of the population are living in rural areas.

 

Due to its ecological and socio-economic importance, the Niger Basin is crucial to the development of the sub-region. (NAN)
TAK/MOL/OOK
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Edited by Mustapha Lamidi and Dayo Komolafe

General news

Audio: Osinbajo inaugurates AfDB country office, says $6bn portfolio enhances job creation

NAN-H-
Inauguration
By Donald Ugwu
Abuja, Jan. 18, 2018 (NAN) Vice President Yemi Osinbajo on Thursday inaugurated the Country Office of the African Development Bank (AfDB) and hailed the banks $6 billion portfolio in Nigeria which enhanced job creation.

Osinbajo said he was particularly delighted that the bank was working closely with the administration in addressing the challenges of the people emerging from insurgency in the North East and militancy in the Niger Delta.

According to him, the Bank’s portfolio was spread across 73 projects across the country.

Cue in audio

“The Bank’s inclusive basic delivery and livelihood empowerment integrated programme aimed at addressing the challenges in the North East in particular is commendable.

“The project will support youth, women and IDPs who have returned to their communities.

“An estimated population of more than 10 million affected people are expected to directly benefit from this project.

“More specifically, I thank the President and Board of the AFDB for their support to Nigeria at a very difficult time, during the 2015/2016 economic recession.

“When we requested support from the bank, the response was swift; the Bank approved the budget support loan of $1billion in Nov. 2016.

“The first tranche of $600 million has been fully disbursed and utilized and in my discussions with the President of the bank we will be getting the remainder in form of sector loans.

“So we are looking forward to the remaining $400 million.’’

Cue out audio

Osinbajo said that as the people celebrated the inauguration of the banks world class edifice he would reiterate the commitment of the Buhari administration to the banks strategy in Nigeria.

He congratulated the management, Board of AfDB and their staff members for making the completion of the office a reality.

He said that the building was an important symbol of the special relationship between the bank and Nigeria, its founding member and the largest shareholder since inception.

“As a major shareholder, a donor and a borrower at the same time we have through the years shared the bank’s  vision and objectives,’’ he stated.

He recalled that when the Bank’s President, Akinwumi Adesina, assumed office he introduced the `High-Fives’ by investing more in infrastructure such as Agriculture, water, power, education and healthcare and increased access to affordable energy.

The Vice President commended the AfDB for its efforts to close the gender gaps, empower women and youth and also to strengthen and expand social safety nets for the vulnerable populations.

He gave the assurance that with its large population, the country would continue to play active role in the bank’s efforts in regional integration and the entire continent.

He said the country would be strong and committed partner which it has already demonstrated by supporting the establishment of the $500 million Nigeria trust fund in 1976.

According to him, the Trust fund had helped to transform the economies and improved the standards of millions of people in other African countries. (NAN)
DCU/IS
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Edited by Ismail Abdulaziz

General news

FCT Administration seeks $100m AfDB BRT loan

FCT Administration seeks $100m AfDB BRT loan

NAN-H-107

Transportation

By Kabir Muhammad

Abuja, Feb. 17, 2017 (NAN) The Secretary, FCT Transportation Secretariat, Alhaji Hamid Suleiman, says the administration has applied for a loan of $100 million from the African Development Bank (AfDB) for the provision of Bus Rapid Transit (BRT).

Suleiman disclosed this to the News Agency of Nigeria (NAN) on Friday in Abuja

According to him, the BRT will be plying from the Eagle Square in Abuja to Auta Balaifi in Nasarawa State.

However, he explained that the loan was not part of the Federal Government borrowing plan.

“Meanwhile, $950,000 CTF grant has been approved for preparatory study of the pilot BRT corridor which is between Eagle Square and Auta Balaifi in Nasarawa state,’’ he said.

He said that the Nigerian Infrastructure Advisory Facility (NIAF) is sponsored by Department for International Development (DfID) and administered by Adam Smith International of London is a support.

“It is to facilitate and accelerate infrastructure reform and policy development, institutional strengthening, legislation, capacity building, planning and regulation.

“NIAF has successfully conducted studies on FCT Travel Demand Survey, Conceptual Design of BRT infrastructure.

“It has also conducted viability studies of BRT services for FCT with the supervision of the BTR & TR,’’ he said.

The scribe noted that there has been improvement to ensure safety and orderly flow of traffic in the city.

Suleiman said the improvement include road markings, installation of traffic signs and signals, installation of delineators and other traffic control devices.

He said there was also the provision of cat-eye road signs, construction of bus shelters, installation of red light cameras and removal of speed bumps where necessary. (NAN)

KM/MST

Edited by Muhammad Suleiman Tola