Tinubu secures African Development Bank $618m investment in Nigeria’s digital economy

By Samuel Ogunsona

President Bola Ahmed Tinubu as secured another hige foreign investment for Nigeria.

This time it is the African Development Bank (AfDB) bid to support Nigeria’s digital and creative enterprise implementation programme with a whooping of $618m.

In a statement made by AfDB’s country Director-General for Nigeria, Lamin Barrow, on Sunday in an interview with the News Agency of Nigeria in Marrakesh, Morocco, said the Federal Government is in the process of recruiting a fund manager for the project.

Tinubu also announced $617.7m investment fund through the i-DICE programme which was established towards promoting investment in information, communications technologyand creative industries.

According to Barrow, the implementation of the project was held due to the transition to a new government.

He said, “We were caught up by the transition of government and you have to allow the new government to settle in.

According to the AfDP the steering committee, chaired by the Vice-president,Kashim Shetima with membership from the ministries of Finance, Trade and Investments, Communication, Science and Technology, Information and c
Culture, met and received briefing on the project

He sad further “Last week, the French minister that visited Nigeria signed the agreement for the co-financing as DICE is being co-financed by the French Development Agency and the Islamic Development Bank. All the processes are now virtually completed,” the AfDB country director-general said.

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