NewStats: 3,264,435 , 8,183,705 topics. Date: Wednesday, 11 June 2025 at 05:24 AM 416b10

By Mathias Okwe

Malabo, Equatorial Guinea — The African (Finance) Development Bank (AfDB) is set to release $70 million as part-financing of the $167.66 million (N51.22 billion) 198-kilometre (km) Ebonyi Ring Road project envisioned to spur Nigeria's integration with other African countries.

The Nigerian Country Senior Director and West African Bank Group of the AfDB, Mr. Ebrina Fall, disclosed this yesterday at the ongoing 2019 AfDB's yearly meeting in Malabo, the Equatorial Guinea Capital.

Fall, who spoke with a group of Nigerian journalists covering the meeting, said: "The Nigerian Federal Executive Council (FEC) cleared the credit approval last May hence, the AfDB's board has concluded arrangement to commence disbursement before the end of the third quarter of 2019."

The project, being co-financed by the Islamic Development Bank, as well as the Ebonyi State Government, is slated for completion in 2024 and has pushed the AfDB's portfolio to around $8 billion. "While the project is a state initiative designed to link eight of the 13 local councils in Ebonyi State, it has strategic regional dimensions as it crosses the Enugu-Bamenda Road corridor at two points, thereby providing residents in its zone of influence with easier access to Cameroun.

"The bank continues to focus on improving the institutional framework for the co-ordination and management of regional projects through capacity from ECOWAS and other regional specialised institutions."The project intends to rehabilitate 177.81km of existing bituminous roads," he further said.

The Nigerian country Director spoke as the Bank's President , Dr. Akinwumi Adesina earlier on Monday said the Bank has in recent times invested as much as $15 billion across Africa for the purpose of integration.He said :" The Bank is committed to accelerating Africa's integration process. In the last five years the Bank has invested more than $15 billion in the construction of regional infrastructure in energy, transport and ICT. Some of these projects include a $93.8 million loan for the long-awaited Trans-Gambia bridge linking the Gambia and Senegal, resulting in a 50% cut in freight costs and improved transport, health and education services for 900,000 local people. If we get integration right, Africa can develop with dignity and confidence," The theme of this year's meetings is 'Regional Integration for Africa's Economic Prosperity."

Source: https://guardian.ng/news/afdb-set-to-release-70-million-credit-for-ebonyis-198km-ring-road/

We should all on this forum know that help can come from anywhere even from your supposed enemy. You don't even have to merit it. Now, many here will be shouting afonja or yamiri, an afonja had an important role to play to acutualise this project as he's the head of the AFDB. Islamic Bank is even one of those that will finance the project. Those igbo guys you hated so much might be your Angel someday.

Africa, we are our own enemy, tribal and religious division might consume us if care is not taken.

I wonder if many on this forum are opportuned to be in sensitive position in this country won't drag us into another civil war. Let's shun hatred, from north to south, we are brothers.

I'm happy for this state, and I pray your help will arise from unexpected places this year. Amen

wow, that's a good one.

k

That is nice if they will not pocket the money... our leaders and money is like goat and yam. You can’t stop goat from eating yam

Ok

Woke up to this good news

Nice one

This is a good news... Ebonyi is blessed with solid minerals n Agriculture

Nice development

Wow ... Dave Umahi .... setting the pace

Most PDP states are doing very well

Make them no cast themselves.


Do not award this contract to thrbnigerisn ppl instead come up here and do it yourselves biko

God this country get money oo, why I'm I still suffering?

thats nice

Why is this news sounding suspicious?

I wish there were better maps available so I can see what Im looking at. The tolls will help with maintenance and paying down debts I guess.

Shikini:
Wow ... Dave Umahi .... setting the pace

Most PDP states are doing very well

who's this one again? You woke up this morning and first thing on your mind is partisanship? Which PDP states are doing well? Is it Abia, Enugu or Delta that I'm in? Get a life please.

Blue3k:
I wish there were better maps available so I can see what Im looking at. The tolls will help with maintenance and paying down debts I guess.

Afdb is largely controlled by Nigerians
I don't think debt is going to b an issue

Keep quiet who know umahi besides his state mens? If they want this giants project to see the light of day they should shun the governor AFDB should monitor the project themselves . However we must praise president Buhari for this good news.

Shikini:
Wow ... Dave Umahi .... setting the pace

Most PDP states are doing very well

evansjeff:
who's this one again? You woke up this morning and first thing on your mind is partisanship? Which PDP states are doing well? Is it Abia, Enugu or Delta that I'm in? Get a life please.

Are Enugu and Delta states not doing well?

I don't know about Abia. Haven't been there for many years

[i]

odave:
We should all on this forum know that help can come from anywhere even from your supposed enemy. You don't even have to merit it. Now, many here will be shouting afonja or yamiri, an afonja had an important role to play to acutualise this project as he's the head of the AFDB. Islamic Bank is even one of those that will finance the project. Those igbo guys you hated so much might be your Angel someday.

Africa, we are our own enemy, tribal and religious division might consume us if care is not taken.

I wonder if many on this forum are opportuned to be in sensitive position in this country won't drag us into another civil war. Let's shun hatred, from north to south, we are brothers.

I'm happy for this state, and I pray your help will arise from unexpected places this year. Amen

My brother don't. Waste your energy they will. Learn eventually

G

Nice one

Hope they use it well.

Ebonyi is really growing fast.

Islamic development bank...
The governor has foresight though. Umahi talk-and-do... Not like some that I know.

N

Wao what a good news to hear,kudos to governor David Umahi,Akubaraoha is working

odave:
We should all on this forum know that help can come from anywhere even from your supposed enemy. You don't even have to merit it. Now, many here will be shouting afonja or yamiri, an afonja had an important role to play to acutualise this project as he's the head of the AFDB. Islamic Bank is even one of those that will finance the project. Those igbo guys you hated so much might be your Angel someday.

Africa, we are our own enemy, tribal and religious division might consume us if care is not taken.

I wonder if many on this forum are opportuned to be in sensitive position in this country won't drag us into another civil war. Let's shun hatred, from north to south, we are brothers.

I'm happy for this state, and I pray your help will arise from unexpected places this year. Amen

Rubbish talk, afonjas are useless. We are not one, we can never be one

Great news!
May it be completed