AfDB to assist Nigeria fix post-COVID-19 shocks
says it would support Nigeria to address some emerging shocks triggered by the ravaging impact of COVID-19 pandemic on the global and Nigerian economies.
All the reviews and adjustments are part of efforts to raise funds to finance the huge deficit in the budget as a result of shocks from the distortions association with the pandemic.But, the AfDB on Friday committed to support Nigeria address some of the shocks and assist the country’s economy back on its footing post-COVID-19.
The support would also help accelerate efforts towards economic transformation and diversification of export earnings and fiscal revenue from crude oil. Mr Faal said the 2020-2024 CSP identifies supporting infrastructure development and promoting social inclusion through agribusiness and skills development as key priority areas for Nigeria.
Special focus would be put on supporting the Nigerian private sector, in terms of financing and advisory services, and on Public-Private-Partnership initiatives that enable innovative, long-term investment in energy, transport and water and sanitation.
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