Nigeria Needs Immediate Economic Diversification – African Development Bank

Nigeria, Africa’s largest economy, requires urgent economic diversification to step away from a single source of income (oil and minerals) and toward multiple sources of income, according to the African Development Bank. Prof. Oyelaran-Oyeyinka Oyebanji, Senior Special Adviser on Industrialisation at the African Development Bank (AfDB), said this on Monday at the 22nd Founder’s Day Lecture of the Igbinedion University, Edo’s first private university. What the African Development Bank said about diversification “In order to achieve long-term recovery and development, Nigeria requires immediate economic diversification. Nothing illustrates the dangers of over-reliance on a single or limited range of resources more […]



The AFDB And The IFAD Have Teamed Up To Support Africa’s Food Security

To combat growing hunger on the continent, the African Development Bank (AfDB), the International Fund for Agricultural Development (IFAD), the Forum for Agricultural Research in Africa (FARA), and the CGIAR System Organisation have formed an alliance. The effects of climate change, growing fragility, war, and locust invasions in east and southern Africa are taking a toll on the continent’s effort to combat food insecurity, the group observed during a two-day high-level discussion centered on modernising food production. Governments, development partners, and the private sector will all need to work together to find solutions. Government officials, heads of multilateral development banks,[…]