Nigeria, AfDB to review $6.2 billion project portfolio
Nigeria and the African Development Bank (AfDB) have agreed to review the country’s $6.2 billion project portfolio to identify implementation challenges, accelerate project delivery and align ongoing operations with the…
The African Development Bank is one of Nigeria's largest multilateral development partners, financing projects across power, agriculture, transport, water and social sectors as part of the government's broader infrastructure and development financing strategy. Nigeria has for years relied on a mix of multilateral loans from the AfDB, World Bank and other lenders to plug its infrastructure deficit, but these projects have frequently been dogged by delays tied to counterpart funding shortfalls, slow disbursement, procurement bottlenecks and weak implementation capacity at the agency level.
The planned review of the $6.2 billion portfolio signals an effort by both sides to take stock of how existing AfDB-backed projects are progressing and to unblock stalled initiatives rather than announcing fresh financing. Both Nairametrics and BusinessDay agree the goal is to identify implementation challenges and speed up delivery, but neither report yet details which specific projects or sectors will be prioritised, a timeline for the review, or what reforms might follow once gaps are identified.