By Emmanuel Adigwe
African Development Bank has stated that it will support Nigeria to address economic shocks associated with the COVID-19 pandemic and oil price shocks.
Ebrima Faal, Senior Director for the African Development Bank in Nigeria, re-affirmed the institution’s support for Nigeria’s socio-economic advancement.
Faal stated: “In the implementation of the CSP, the Bank will also support Nigeria to address economic shocks associated with the COVID-19 pandemic and oil price shocks by focusing our interventions in sectors that will strengthen public health infrastructure and accelerate efforts towards economic transformation and diversification of export earnings and fiscal revenues from oil.”
The bank stated that it will employ various financial instruments to support two priority areas which are the Public-Private-Partnership and the private sector