The African Development Bank (AfDB) is looking to provide over $4billion dollars between 2016 and 2017.
President of the bank and Nigeria’s former agriculture minister, Dr. Akinwumi Adesina who is on his first official visit to Nigeria says the funds would be used to develop the power and agriculture sectors in Nigeria.
Adesina disclosed this after holding talks with President Muhammadu Buhari in Abuja.
According to him, the plan includes; $1 billion of budget support, $300 million to create jobs for 185,000 youths, $250 million towards northeast infrastructure development, and $1 million grant to deal with challenges of internally displaced persons (IDPs).
It also includes $300 million for infrastructure development around Abuja, and $200 million for Transmission Company of Nigeria (TCN) to deepen electricity facilities.