Browsing: AfDB loans in Nigeria

floods

Climate change, conflict exacerbating Nigeria’s food crisis

Countries
  • Climate Change-related flooding saw large swathes of farmlands and settlement areas in Nigeria’s coastal Niger Delta flooded by December 2022.
  • Boko Haram terrorists, bandits, and armed herders have forced at least 78,000 farmers to abandon their farmland.
  • Over the past eight years, an estimated 6,000 Benue people reported killed while two million farmers were displaced.

Nigeria is battling a perfect storm with a double whammy of climate change and conflict exacerbating the country’s food crisis. Currently an estimated 25.3 million people in Nigeria are facing food crisis partly worsened by the ongoing flooding throughout the country.

As of December 2022, large swathes of farmland and settlements in Nigeria’s coastal Niger Delta region flood. The flooding saw the closure of schools, leaving hundreds of children out of learning centres as the disaster took a toll.

Climate change worsening Nigeria’s food crisis

Nigeria, which with 222.2 million people is Africa’s most populous …

Over 68 million Nigerian youths to benefit from AfDB US$170 million funding

West Africa

AfDB loan to Nigerian Youths:

  • The African Development Bank has approved a loan of US$ 170 million, to assist millions of Nigerian youths to grow their digital and creative enterprises
  • Dubbed ‘Investment in Digital and Creative Enterprises Program (i-DICE)’, the initiative is a project of the Nigerian government, aimed at promoting investment in digital and creative industries
  • The initiative will stimulate investments in 226 technology and creative start-ups and provide non-financial services to 451 digital technology and small and medium enterprises

At least 68 million Nigerians aged between 15 and 35 will benefit from a US$ 170 million loan from the African Development Bank (AfDB) to finance their digital and creative enterprises.

In a statement seen by The Exchange Africa, the African Development Bank says the loan will benefit youths in innovative, early-stage, technology-enabled start-ups or those in the creative sector.

Select micro, small and medium-sized enterprises across Nigeria will …