The African Development Bank, AfDB’s presence in Nigeria is becoming increasingly pronounced.

The global lender which is led by Nigeria’s former Minister of Agriculture, Akinwunmi Adesina has committed to several developmental projects recently in Nigeria especially in agriculture and power sector.

On Saturday, AfDB’s Vice President, Power, Energy, Climate and Growth complex, Mr. Amadou Hott told newsmen in Abuja that the bank has approved a grant of 1.5 million dollars, about 540 million naira to support power project in Jigawa State.

“In Nigeria, there are some projects we are doing. Presently, we have approved in Jigawa state, a grant of more than 1.5 million dollars to develop a project to build two times 100 megawatts.

Also Read: “Nigeria Remains Highest Shareholder In AfDB”

“The grant has just been approved by the board two days ago. The idea there is to really use the money to establish everything required to develop the project, to make sure everything is available and then organise a bidding process to attract investors,” he said.

According to him, there are other projects the bank has invested in Nigeria, like the Gas to power project, targeting 500 megawatts.

“We are hoping to get on board on that by next year, and also the 14 solar power mix being prepared in Nigeria with sovereign investors,” he added.

Also Watch: Na my Assurance you dey call Jalopy, Nigeria bans codeine importation and more this week on Bounce