The Director-General, Nigeria’s Country Department, African Development Bank, Mr Lamin Barrow, on Friday, said the bank’s portfolio investments in Nigeria is one of the largest among the Regional Member Countries, with a total commitment value of $ 4.4bn.
He stated this at the 2023 Country Portfolio Performance Review Workshop in Abuja.
This performance, however, is a reduction from the $5bn worth of portfolio in 63 operations recorded in 2022.
Barrow, reiterating the bank’s commitment to promote investments in the country, said 48 separate fundings were evenly distributed between public and private sector operations in the country.
He said, “Currently, the bank’s portfolio in Nigeria is one of the largest among the Regional Member Countries, with a total commitment value of $ 4.4bn. These comprised of 48 operations fairly evenly distributed between public and private sector operations.”
Barrow further noted that the rate of flagged operations…