• About
  • Advertise
  • Contact
Saturday, August 2, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

AfDB puts Africa’s infrastructure deficit at $108billion annually

Vital News by Vital News
May 4, 2022
in Economy
0
Share on FacebookShare on Twitter

The President of the African Development Bank Group, Akinwumi Adesina, has said that Africa faces an infrastructure gap of between $68bn to $108bn annually.

According to him, the bank has committed over $44bn to infrastructure across the continent in the last six years in areas of transport, energy, water, and sanitation.

He disclosed this when the United States Treasury Secretary, Janet Yellen, hosted G-7 Ministers, and heads of multilateral development banks.

The event was to discuss the scaling up of infrastructure financing and was moderated by the US Assistant Secretary for International Trade and Development, Alexia Latortue.

In a statement obtained from the bank’s website, Adesina said, “the AFDB, the premier financier of infrastructure in Africa, has committed more than $44bn to infrastructure across the continent in the last six years alone, in such critical areas as transport, energy, and water and sanitation.

RelatedStories

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

FAAC Shares N1.818trillion June Revenue Among FG, States, LGs

Dangote Urges Wealthy Nigerians To Invest More In Nigeria To Aid Growth, Development

Africans In Position To Develop Africa, Dangote Tells Global CEOs

“Despite collective efforts, Africa still faces an infrastructure financing gap of $68 to $108bn annually,” he said.

At the event, Adesina proposed eight solutions to Africa’s infrastructure finance gap.

According to him, project preparation facilities were critical to developing bankable infrastructure projects since one of the major challenges of infrastructure projects was moving commercially viable projects to financial close.

He added that institutional investors including pension funds, sovereign wealth funds, and insurance companies had enough resources to scale up infrastructure financing from billions to trillions of dollars.

He said, “This pool of capital is so vast that what is needed is only 0.03 per cent or up to 0.04 per cent to bridge the infrastructure financing gap for Africa.”

Tags: AfdbAfricadeficitinfrastructure
Previous Post

We will fish out, punish killers of two soldiers – Nigerian Army

Next Post

Oyeyemi orders decongestion of traffic gridlock on critical routes

Vital News

Vital News

RelatedStories

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector
Business

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

July 27, 2025
FAAC Disburses N1.678trn February Revenue To FG, States, LGs
Economy

FAAC Shares N1.818trillion June Revenue Among FG, States, LGs

July 19, 2025
Dangote Urges Wealthy Nigerians To Invest More In Nigeria To Aid Growth, Development
Economy

Dangote Urges Wealthy Nigerians To Invest More In Nigeria To Aid Growth, Development

July 16, 2025
Africans In Position To Develop Africa, Dangote Tells Global CEOs
Business

Africans In Position To Develop Africa, Dangote Tells Global CEOs

July 14, 2025
Coordinator, Zero Hunger Nigeria, Arosanyin, Urges States, LGs To Invest More In Agriculture To Prevent Food Shortages
Agriculture/ Water/ Mineral

Coordinator, Zero Hunger Nigeria, Arosanyin, Urges States, LGs To Invest More In Agriculture To Prevent Food Shortages

July 14, 2025
Next Post

Oyeyemi orders decongestion of traffic gridlock on critical routes

Scandal rocks Federal Ministry of Justice over alleged sale of presidential pardon

UN Sec-Gen. calls for international support for Borno

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Zimbabwean Goalkeeper George Chigova, 32, Collapses, Dies At Home

Zimbabwean Goalkeeper George Chigova, 32, Collapses, Dies At Home

2 years ago

Nigeria, Malaysia, Singapore, S/Africa Competing In Public Service Reform – Arabi

3 years ago
Ohinoyi Of Ebiraland, Alhaji Ado Ibrahim Dies At 95

President Tinubu, Council Of Ulama’u Mourn Ohinoyi Of Ebiraland, Alhaji Ado Ibrahim

2 years ago
President Tinubu Approves N147bln For Completion Of Dualization Of Oyo-Ogbomoso Road

President Tinubu Approves N147bln For Completion Of Dualization Of Oyo-Ogbomoso Road

5 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

Canada Announces Plan To Recognise Palestinian State By September

Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Abdulrahim Thanks Governor Ododo Over Appointment as Governing Council Chairman Of Kogi College Of Nursing

Trending

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute
Education

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute

by Vital News
August 1, 2025
0

A delegation from the National Universities Commission (NUC) has paid a revalidation visit to the Distance Learning...

Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

July 31, 2025
FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

July 31, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute August 1, 2025
  • FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals July 31, 2025
  • Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway July 31, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In