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AfDB Sete To Invest $3.2bn In 5 Years For Nigeria’s Economic Transformation

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AfDB To Launch SAPZ Phase 1 Project

AfDB Sete To Invest $3.2bn In 5 Years For Nigeria’s Economic Transformation

AfDB sete to invest $3.2bn in 5 years for Nigeria’s economic transformation. The African Development Bank (AfDB) Group has approved a new five-year country strategy paper (2025-2030) for Nigeria, committing about $650 million annually to drive economic transformation, build resilience, and foster “broad-based” prosperity.

The strategy paper, announced in a statement dated April 30, will see the bank invest $2.95 billion in the first four years, and a total of $3.2 billion by the end of the programme.

“Under the new strategy, the Bank will provide $2.95 billion over the first four years, complemented by an estimated $3.21 billion in co-financing from development partners,” the statement reads.

“The strategy focuses on two key priority areas: promoting sustainable, climate-smart infrastructure to enhance competitiveness and industrial development; and advancing gender and youth-inclusive green growth through industrialization.”

The AfDB said the strategy aims to close Nigeria’s infrastructure gap — estimated at $2.3 trillion between 2020 and 2043 — by investing in climate-friendly roads, power, clean water systems, and supporting agribusinesses that create jobs, especially for women and youth.

According to the bank, the investments are projected to support Nigeria’s ambition to double the size of its economy to $1 trillion and to create 1,561,000 jobs.

“The new strategy aligns with Nigeria’s long-term development plans, including the Agenda 2050, the National Development Plan 2021-2025, and the 2023 Renewed Hope Agenda,” the AfDB said.

The group said the strategy also supports Nigeria’s efforts to take advantage of the African Continental Free Trade Area (AfCFTA) agreement by boosting energy access, improving transportation, and enhancing market access for farmers, agro-entrepreneurs, and businesses.

‘WE’RE BUILDING PATHWAYS TO PROSPERITY FOR MILLIONS OF NIGERIANS’
Commenting on the initiative, Abdul Kamara, the director-general of the AfDB’s Nigeria office, said the strategy takes a transformative partnership between the bank and Nigeria to a new level.

“By investing in sustainable infrastructure and inclusive agricultural growth, we are not only building roads, power systems, and transforming agriculture – we are building pathways to prosperity for millions of Nigerians,” he said.

The development bank said millions of Nigerians, including women, youth, micro, small, and medium-sized enterprises, state governments, and rural communities, are expected to benefit from improved access to finance, enhanced supply chains, training, and business opportunities.

AfDB To Launch SAPZ Phase 1 Project

AfDB

According to the financial institution, women entrepreneurs would receive targeted support under programmes such as its affirmative finance action for women in Africa (AFAWA) initiative, while  the youths will gain critical skills to tackle unemployment.

The AfDB said the strategy would enhance Nigeria’s ability to adapt to climate change by promoting greener, more resilient infrastructure and agricultural systems.

This, the organisation said, would help to reduce the impact of floods and droughts, ease farmer-herder conflicts, and support a more stronger and united future.

Economy

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

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Obaseki

Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki

Okpebholo threatening me with violence, I’ll fight back says Obaseki. Godwin Obaseki, the immediate past governor of Edo, has accused Monday Okpebholo, his successor, of threatening him with violence. Obaseki spoke during the weekend at an event in London, the United Kingdom.

BACKGROUND
Since assuming office in November 2024, Okpebholo has initiated a series of actions aimed at scrutinising Obaseki’s tenure.

He first constituted a 14-member committee to investigate the assets, liabilities, contracts, and financial decisions made under Obaseki.

Okpebholo then expanded the scrutiny to the state civil service, ordering a probe into all recruitments conducted between May and November 2024, alleging a violation of due process.

Last week, Okpebholo asked the federal government to repatriate Obaseki to answer questions over public funds linked to the controversial Museum of West African Art (MOWAA) project.

‘OKPEBHOLO THREATENING ME’

Obaseki said the governor is threatening him with violence and allegedly sent thugs to attack him in the UK.

“Those who live by the sword will die by the sword,” Obaseki said. “And to tell the governor, Okpebholo, I don’t know him; I have never met him. When you start with violence, you will reap violence.

“For one year since I left office, I didn’t say one word. I decided to respect myself and allow them to try [in governance] as well. Go and find out, you won’t see one thing I said about his government.”

He accused Okpebholo’s government of being behind the attack on diplomats during the exhibition in MOWAA.

“As if that was not enough, the government paid people to come to Manchester to attack me,” he said.
“Who has started this violence? Is it me? Last week, this governor held a disgraceful press conference in which he threatened me not to come to Benin.

Obaseki

Obaseki

“They have been threatening violence. So if I respond, nobody should hold me responsible. “I can’t leave myself empty to be hurt and attacked by deranged people.

“So I am going to fight back. I will fight back. I didn’t start the fight. They are afraid. They know they did not win the election.”

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Jigawa: 9,600 Teachers Register For Special Training

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Teachers Register For Special Training

Jigawa: 9,600 Teachers Register For Special Training

Jigawa: 9,600 teachers register for special training. No fewer than 9,600 teachers under the Jigawa State Universal Basic Education Board (SUBEB) registered for a competency test to determine the specific training required to improve their skills and enhance teaching outcomes in the state.

The Executive Chairman of the Board, Professor Haruna Musa, revealed this while briefing journalists on the purpose of the examination, adding that 12,000 teachers were expected to register for the exam.

He explained that the state government, under the leadership of Governor Malam Umar Namadi, was committed to repositioning the state education sector as a key foundation for sustainable development, in line with its “12-Point Agenda.”

Prof. Haruna noted that while the government has been spending significant resources to improve educational infrastructure, meaningful learning improvements cannot be achieved without also enhancing the capabilities of teachers.

“Based on that, the State Executive Council approved for the board to organise a competency test for all teachers. This will enable us to understand the kind of training each teacher requires to improve his or her skills”.

“Out of the 9,600 teachers registered for the exam, over 70% have never attended any capacity-building training since they were employed, including some with over 15 years of service,” the Chairman added.

Teachers Register For Special Training

Teachers Register For Special Training

He stated that after the exam, the teachers will be categorised into three groups: Group A, those with both knowledge and teaching skills; Group B, those with knowledge but lacking teaching skills; and Group C, those lacking both knowledge and teaching skills.

“Each group will be offered specialised training. Those in Group C will undergo intensive training and subsequent examinations for a period to ensure they are equipped with the required knowledge and skills”.
“For those with slower learning uptake, we will attach them to competent teachers within their schools for ongoing guidance and mentorship,” Prof Haruna said.

He further stated that the project is not about retrenchment, but his primary goal is to enhance teachers’ capacity for better learning outcomes within the state’s basic education sector.

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Economy

PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

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Leadway Pensure

PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery

PFA: Leadway pensure leverages innovations for quality service delivery. A Pension Fund Administrator (PFA), Leadway Pensure said, it is leveraging innovation to escalate quality

service delivery to its retirement savings account (RSA) holders. This milestone marks 20 years of trust, exceptional service delivery, and value creation as it celebrates its anniversary. It highlights two decades of dedication to protecting the financial wellness of Nigerian workers.

Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.

Speaking on this remarkable achievement, MD/CEO, Leadway Pensure PFA, Olusakin Labeodan, stated that: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation.

From the very beginning, our mission has been very clear, to deliver a pension system without barriersOver two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a nationwide presence, a robust mobile platform, and the AI-powered assistant LISA, we have made pension services accessible to eligible Nigerians.

“We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds. ”

Leadway Pensure

Leadway Pensure

Looking ahead, the company said, it is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.

“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.

As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria.

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