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AfDB Supported Nigeria Out Of Recession With $600m – Adesina

The President of Africa Development Bank (AfDB), Dr. Akinwumi Adesina, saturday in Abuja, disclosed that the apex African Bank actually supported Nigeria out of recession in 2017 by pumping funds in the region of $600 million into the then receding Africa’s largest economy.
Adesina, who made this disclosure while delivering a speech at the 56th Ordinary Session of the ECOWAS Authority of Heads of States and Governments held at the Conference Centre of the Presidential Villa, also said the bank had invested a total of $20 billion in polio eradication in the ECOWAS sub-region.
But President Muhammadu Buhari, while making his speech, lamented the increasing terrorism attacks, saying they remained a major threat to peace and progress in West Africa.
He therefore noted that recurrent attacks by insurgents were a wake up call for a lasting security partnership aimed at confronting and defeating cross-border terrorism.
However, Adesina, while shedding light on AfDB’s intervention in the country, said the bank had always come to the rescue of African countries in their moments of crisis, explaining that the period of the last recession in Nigeria was tough for the largest black country, and in line with its commitment to help countries in their critical times, the bank helped to get the country out of recession with $600 million.
He said the bank was mainly focused on investment in energy, transport, infrastructure, private sector, regional financial market integration, water and sanitation, adding that it had also invested a total of $20 billion in polio eradication in the ECOWAS sub-region.
Adesina said the bank established Development Bank of Nigeria in the country and invested yet another $230 million to assist Nigeria in stabilising livelihoods in the North-eastern part of Nigeria.
“Your Excellencies, African Development Bank’s portfolio investments in the ECOWAS region totals $20 billion. Our major focus is on energy and transport infrastructure, private sector, regional financial market integration, water and sanitation.
“The Bank has been very responsive during critical times that matter most. We are there always at the right time, with the right product, for the right needs of countries.
“Such was the case in Nigeria where the Bank helped to provide $600 million of budget support that helped it get out of recession, a tough time for Nigeria. The Bank also provided $500 million to establish the Development Bank of Nigeria. Last week, we provided $280 million to support social investments in Côte d’Ivoire, just as we provided $230 million for support towards stabilizing livelihoods in the northeast of Nigeria,” he said.
He also disclosed that at the bank’s second African Investment Forum in November 2019, it invested along with its partners $2.6 billion for the development of Accra Sky Train and spent another $251 million on Lagos Cable Car Transit System projects.
The AfDB boss, who said the bank had spent $1.5 billion for the development of major transport corridors to improve inter-connectivity in the ECOWAS sub-region, noted that it had invested $546 million in power interconnection for The Gambia River Basin area (OMVG).
He said the bank was also “supporting the power interconnection to link Guinea and Mali,” adding that it was also supporting what he described as interconnection to link Nigeria, Niger, Benin, and Burkina Faso,” assuring the leaders of the delivery of Lagos – Abidjan highway.
“The Lagos-Abidjan Highway will become a reality. It has to! The President of the ECOWAS Commission, my dear brother Jean Claude is from Côte d’Ivoire and I, President of the African Development Bank, I am from Nigeria! You can be sure President Buhari will not let him sleep from this end in Abuja and President Ouattara will not let me sleep at the other end in Abidjan,” he stated.
The former Nigerian Minister of Agriculture noted that the bank was building and strengthening the West Africa Power Pool, which he described as “a critical part of ECOWAS master plan for development of the regional power generation and transmission infrastructure.”
In line with these investments, he said the electricity grids of 14 ECOWAS countries was expected to be connected next year, adding that the bank had also launched $20 billion power generating initiative with the aim of creating 10,000 megawatts of electricity, from solar for some countries.
He said no fewer than 250 million people would benefit from this initiative, disclosing also that when it’s completed, it would be the world’s largest solar zone
“The African Development Bank launched this year the $20 billion Desert to Power initiative to develop 10,000 MW of power from solar, for the Sahelian countries. This will provide electricity for 250 million people, with 90 million being from off grid solar systems. It will be the world’s largest solar zone,” he added.
Buhari, who decried the unabated terrorism attacks in the region, lamented the gruesome murder of 33 soldiers along with citizens in Niger Republic last week and expressed his sympathy with the families of the victims of the tragedy.
“Terrorrism remains the major threat to the peace and progress of our region. Recurring attempts by terrorist groups remind us of the urgency to build an enduring security partnership to confront and defeat the evil of cross-border terrorism.
“It was with great shock and immense pain that I received the news of the tragedy last week in the Tilabari Region of Niger Republic, where over 33 valiant soldiers and other citizens of the country were brutally massacred in yet another cowardly terrorist attack by these enemies of peace and progress.
“As we mourn this enormous loss, our thoughts and sympathies go to the families of these heroes and the entire people of Niger Republic. In solidarity with our Nigerien brothers and sisters, may we now all rise to observe a minute silence and pray for the departed souls,” he said.
Buhari pledged Nigeria’s commitment to regional integration and advocated the need for leaders of the region to deploy their energy towards evolving new strategies aimed at achieving the aspiration of the region for peace, security and growth,
“Your Excellencies, Distinguished Ladies and Gentlemen, let me now restate Nigeria’s commitment to regional integration and stress the need to always channel our energies towards realising new strategies and initiatives, which will accelerate the attainment of our regional aspirations for sustainable peace, security, stability and inclusive economic growth,” he added.
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Mama Kwadjo-Morakinyo: Lessons from a Virtuous Woman

It’s hard to believe it’s been a year since Mama Rachael Omotola Kwadjo-Morakinyon left us on June 18. This great woman lives on in our hearts despite her departure to the great beyond. She was a mother to many of us who were privileged to cross her path. I’m honoured to present her virtues and enduring legacies as lessons to the world.
I became an “adopted” son to Mama Kwadjo-Morakinyo, figuratively speaking, after meeting her eldest son, Roland Morakinyo at African Church Grammar School Apata, Ibadan Remedial Classes. Roland’s captivating personality, marked by his fair complexion, distinctive features, and warm smile, drew me to him. I admired his charm, while he appreciated my academic dedication and intellectual curiosity. We formed a strong bond, becoming close friends by choice, a friendship that has endured over time.
Mama’s magnanimity was truly remarkable. Roland often invited me to share meals with him and his family. One memorable occasion, a few friends joined us for foofoo and melon-vegetable soup. When the soup ran out, Roland quickly fetched the family’s pot and poured the remaining soup for us. Just as he did this, Mama arrived from work. I expected her to scold Roland for what might be seen as impolite behaviour. Instead, she expressed concern that the soup had finished and kindly asked if we were satisfied with the meal. This display of kindness and generosity has left a lasting impression on me.
Mama was enthusiastically accommodating and compassionate. She warmly welcomed me and other friends of her children into their home, particularly showing me special attention probably because of my situation then, at a tender age, living without my parents—or our shared roots, as I’m from Idogun via Owo, her hometown. Her home was also a haven for relatives like Sade, who later became an NTA newscaster, Olumide, and the beautiful ‘Aunty’ Derin. In fact, under her guidance, many individuals received valuable support and developed their potential, achieving greater heights.
Mama Kwadjo-Morakinyo possessed an admirable entrepreneurial spirit and resourcefulness. Beyond her passion for knitting as a pastime, she notably contributed to the family income by commercially producing foofoo, a staple African food, showcasing her dedication to her family’s well-being.
It is interesting to note that Mama was an effective and result oriented nation builder. Her being a trained teacher reflected in the upbringing and lives of her children who succeeded immensely in their academic pursuits and careers. Besides, they took up leadership roles wherever they find themselves. For instance, my friend, Roland won a keenly contested election and emerged, the Students’ Union President of Federal Polytechnic, Ilaro, Ogun State.
Mama was an exemplary Christian mother, a caring wife and virtuous woman who intentionally trained her children in the way of the Lord. Little wonder, her eldest son, my bosom friend is a pastor with the Redeemed Christian Church of God (RCCG). Her two daughters, Doyin and Bimbo are co-pastors with their husbands in the RCCG.
Mama Rachael Omotola Kwadjo-Morakinyo (née Aladejebi) was born on October 10, 1945, in Owo, Ondo State. Her educational journey began at St. Andrew’s Primary School, Owo, followed by St. Louis Secondary Modern School, Owo (1959-1961). She later obtained a Grade II Teacher’s Certificate from St. Luke’s College, Molete, Ibadan (1980), and an Associateship Certificate in Education (ACE) from the University of Ibadan (1986).
Mama Kwadjo was diligent and committed in her teaching career and served meritoriously in different capacities. Her teaching career spanned over three decades. She started as a temporary teacher at IDC Adifa (Ibadan Less City) in 1977. After completing her Grade II Teacher’s Certificate, she was appointed as a Class Teacher and served at various schools which included Islamic Mission Primary School, Omi Abidogun, Ibadan (1977-1982); St. James’s Primary School, Oke Bola, Ibadan (1982-1994); Ratibi Moslem School, Molete, Ibadan (1994-2001); and St. Michael’s Primary School II, Apata, Ibadan (2002-2006).
She voluntarily retired on December 31, 2006, after 30 years of dedicated service.
Though Mama Kwadjo-Morakinyo is no longer with us physically, her spirit and legacy live on in our hearts. Her selflessness, kindness, and dedication to her family, church, community, and humanity continue to inspire us.
*Akindele, a seasoned journalist and media practioner, writes from Ibadan.*
News
Lagos tanker drivers threaten to stop fuel loading over e-call-up fees
Recently, the Lagos Deputy Governor, Obafemi Hamzat, said the E-Call Up system was designed to regulate the movement of articulated vehicles and tankers accessing the corridor, thereby promoting orderly traffic flow and preventing the kind of gridlock previously experienced in the Apapa area.
However, the tanker drivers, under the aegis of the National Association of Road Transport Owners, said they could only pay N2,500 per truck.
In a brief interview with our correspondent on Sunday, NARTO President Yusuf Othman said the association was still in talks with the Lagos State Government to allow its members to pay N2,500 per truck instead of N12,500.
“For now, we are still negotiating with the Lagos State Government. The N12,500 is too high. We recommended N2,500 from the beginning. Let’s see how it goes and if we can reach an amicable resolution. But if the government does not agree, our boys will not go and load tomorrow,” Othman said.
Reacting, the Permanent Secretary of the Lagos State Ministry of Transportation, Olawale Musa, said the N12,500 was not going into government coffers.
According to Musa, the money was for the use of the facility built for the drivers in the Lekki axis to avert gridlocks and environmental pollution.
He added that the facility was built by a private investor and said the union and the drivers should try to obey rules and regulations to prevent the Lekki-Epe corridor from turning into the old Apapa road.
News
VeryDarkMan, Angry Youths Protest, Demand End To Killings In Benue

The protesters converged on the Wurukum food basket roundabout Makurdi as early as 8 am to demand action over the alleged killing on Saturday in Yelwata.
They were later joined by a social media influencer, Martin Otse, also known as VeryDarkMan.
Speaking to journalists, one of the protesters, Solomon Amande, said Benue youths were angry at the deafening silence of President Bola Tinubu, and the governor of Benue State despite the killing of children, women, and the elderly.
An attempt by the Deputy Governor of Benue State, Sam Ode, to address the protesters was resisted as they told him to tell the governor, Hyacinth Alia, to come personally to address them.
They were later confronted by armed policemen and soldiers who attempted to stop them, leading to an escalation and the use of tear gas at the protesters.
However, the defiant protesters said they would resist any intimidation, calling on the President and the governor to take action.
The protest came amid incessant attacks that have resulted in the deaths of innocent people across the state.
Last Saturday, armed men, suspected to be herders invaded Yelwata, leaving scores of residents feared dead.
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