Nigerian President Muhammadu Buhari has commended the African Development Bank (AfDB) for its support for the West African country in its difficulties in 2016.
In an AfDB statement reaching Xinhua on Thursday, Buhari appreciated the bank’s “critical gesture in 2016 during the difficult period of economic recession through a 600 million U.S. dollars budget support facility”.
Buhari said this at a meeting with AfDB President Akinwumi Adesina in Abuja, the nation’s capital. He assured Adesina that Nigeria would continue to work toward a diversified economy.
Buhari lauded the bank’s interventions in infrastructure and agriculture, and encouraged the institution to keep supporting countries like Nigeria to grow agriculture as a business through the promotion of agro-industrial zones in the country.
At the meeting attended by some of the country’s ministers and senior government officials, Adesina pledged the bank’s commitment to fast-track Africa’s development.
Adesina, a former minister in Nigeria, also highlighted several reforms at the bank and strategic efforts to move the bank’s operations closer to countries.
The AfDB’s robust operations in Nigeria have had significant results and impacts on the ground, and continue to accelerate the country’s economic transformation as well as improve the lives of millions, he added.
The bank’s active portfolio in Nigeria comprises more than 60 operations with total commitments of 4.5 billion dollars at the end of March 2019, the statement said.
These include 28 public sector operations with total commitments of 1.7 billion dollars, and 34 non-sovereign operations with total commitments of 2.8 billion dollars.