Tag: African Development

Buhari Leaves For Kenya To Attend TICAD Summit

Muhammadu-Buhari-Leaves-For-KenyaThe President of Nigeria, Muhammadu Buhari is among the 35 African leaders attending this year’s International Conference on African Development (TICAD Vi) in Nairobi, Kenya.

The summit holding this weekend is co-organised by the government of Japan, the United Nations office of the Special Adviser on Africa, the United Nations Development Programme, the African Union and the World Bank.

The President left Nigeria for Kenya at about 2:00p.m. local time on Friday.

The focus of the Summit is on promoting structural economic transformation through diversification and industrialisation; promoting resilient health system for quality life and promoting social stability for shared prosperity.

During the conference, President Buhari will participate in plenary sessions on TICAD in alignment with African development, the dialogue with the private sector as well as the global launch of the second Africa Human Development.

The president will also hold a bilateral meeting with the Japanese Prime Minister, Shinzo Abe.

Prioritize Development Above Climate Change, Osinbajo Tasks African Leaders

Osinbajo, climate changeThe Vice President of Nigeria, Professor Yemi Osinbajo, says Africa must prioritize development of its natural resources, including fossil fuels, ahead of concerns for climate change or risk losing millions of African lives to poverty and hunger in a much faster rate than climate change.

Professor Osinbajo is attending the African Development annual meeting focused on energy and climate change in Zambia.

He said that it was impossible for Africa to de-emphasize its natural resources which must first be exploited before economic development can spread across the continent.


He said that while climate change concerns were important, Africans cannot be compelled to take the greater burden of resolving the problem at the risk of its development which is still at a nascent stage and despite being the least contributor to the devastation of the environment.

FG Borrows $1.6Bn To Aid Power Transmission

The Minister of Power, Professor Chinedu Nebo said the Federal Government has borrowed $1.6 billion (about n240 billion) foreign loans for the expansion of power transmission facilities in the country.

The Minister said this, after a meeting of the Presidential Action Committee on Power (PACP) at the presidential villa.

The closed door meeting, which lasted for over two hours, was presided over by President Goodluck Jonathan, and it had in attendance the Vice President Mohammed Namadi Sambo and several other ministers.

According to Professor Nebo, the loan is coming from the World Bank, the African Development Bank, the Euro Bond Issue and the Chinese Exim Bank.

He said: much of the deliberations cantered on expanding the transmission network in Nigeria to ensure that all the power generating plants that Nigeria is now building and commissioning, have adequate capacity to pull out power.