The Board of Directors, African Development Bank (AfDB), has approved a loan of 115 million dollars to support a major road rehabilitation project in Abia State, Nigeria.

This is contained in a statement issued by the Nigeria Country Department of the bank on Saturday in Abuja.

It said the project would see to the rehabilitation of roads, erosion control infrastructure and preparation of solid waste management facilities in the state capital, Umuahia, and the commercial hub, Aba.

”Financing for the project estimated at a total cost of 263.80 million dollars, will come through an AfDB loan of 100 million dollars.

”A Canada–AfDB Climate Fund (CACF) loan of 15 million dollars; and a 125 million dollars co-financing loan from the Islamic Development Bank (IDB).

”The Abia State government will provide 23.80 million dollars in counterpart funding for compensation to people affected by the project and implementation of a Resettlement Action Plan,”it said.

According to the statement, the project, which is expected to be completed in 2029, has a total of 248.46 km of road.

It said it had 58.03 km of roads in Umuahia and 190.43 km of roads in Aba which would be rehabilitated to asphaltic concrete standards at varying cross-sections.

It said:” Erosion sites in Umuahia and Aba will be reinstated as well as preparatory studies were undertaken for private sector participation in solid waste management for the two cities.

”The project will also include capacity building, project management and development of social infrastructure.

”This includes the rehabilitation of schools and the provision of sanitation facilities in schools, community markets and hospitals.”

It said with an estimated population of 553,000 and 814,000 respectively (2022 estimates), Umuahia and Aba, the commercial hub, we’re currently facing serious infrastructure challenges.

The statement said this arose from decades of underinvestment amid rapid urbanisation and the situation was aggravated by gully erosion and the emergence of huge piles of solid waste on the roads.

It said when completed, the 1.37 million population in these two cities would benefit from reduced travel time, vehicle operating costs and lower transport cost.

”The project will also create 3,000 temporary jobs (30 per cent for women) at the construction phase, and about 1,000 permanent jobs during the operational phase.

”The permanent jobs will particularly benefit the youths, who will make up 50 per cent of the project.
”They will be trained in contract management by the State Youth Road Maintenance Corps for road maintenance, a body of young Abia engineers drawn from the 17 Local Government Areas of the State,”it said.

Mr Lamin Barrow, the Director-General of AfDB’s Nigeria Country Department, said the project would build resilience by providing the town access to urban infrastructure services, including economic and social amenities.

Barrow said: “the results from the implementation of the project will help expand access to economic and social amenities in the two cities, and thereby contribute to building sustainable and liveable cities.”
The News Agency of Nigeria (NAN) reports that AfDB’s portfolio in Nigeria comprises 48 operations worth 4.2 billion dollars.

The national (Federal and States) operations account for 90 per cent of the portfolio, for 41 projects amounting to 3.79 billion dollars. In comparison, multinational operations constitute 10 per cent for seven projects amounting to 0.41 billion dollars.

There are 24 Sovereign Operations, 2.36 billion dollars or 56 per cent of total commitments and 24 Non-Sovereign Operations (1.84 billion dollars or 44 per cent).

https://platinumtimes.ng/abia-gets-afdb-approval-of-115m-loan-for-erosion-road-projects/

Aba to the world

it is good to borrow money especially if you calculated the advantages and disadvantages and know that the advantages and benefits outweight the counterpart. and if you know you can pay back without hurdles.

my only problem now is the attitude of most topees up there towards money under their custody

They really need to use the fund for the erosion purpose.

Hope the money will be utilize very well.

Wow

This loan is reasonable and there is a 100% trust on the present govt in Abia

richidinho:
This loan is reasonable and there is a 100% trust on the present govt in Abia

Yes bro

Good luck to the new government

I hope Akinwummi Adesina no dey do partial sha.. The kind of loan Afdb gives to Nigeria is becoming tomuch o. I hope they won't start accusing him of being partial.

When he was cuddling up to Mr.President, some hateful nonetities were castigating him. Akinwumi Adesina has been facilitating several funding and projects in Nig. including a new youth development bank. What has Okonjo Iweala used her office to facilitate to Nigeria since she occupied office?

femisplash:
When he was cuddling up to Mr.President, some hateful nonetities were castigating him. Akinwumi Adesina has been facilitating several funding and projects in Nig. including a new youth development bank. What has Okonjo Iweala used her office to facilitate to Nigeria since she occupied office?

Indomie generation. Go and research debt forgiveness by Paris and London Club facilitated by Okonjo Iweala under Obasanjo. Oga, we no be your mate, stop the petty comparison

richidinho:
This loan is reasonable and there is a 100% trust on the present govt in Abia

Yes, we are scared of anyhow borrowing but with the level of trust in the new Abia government nothing to fear

I like the focus on major two cities. Aba is compact unlike Onitsha that sprawls. Fixing the City centre will be easier

It bot yours OGA... Stop calling it My..

Its for Abia State Government....

Abi na U go pay ?

Abi again... At least the loan will help to save that land from erosion and refuse taking over the state completely.
Thank you Adesina for saving our brothers from human disasters!

Yoruba man can use his office to grant loan for Yiibo state..but Okojo -Wahala came to France.with no support for his country because no be her brother was the president.....
Adeshina Akinwunmi...you better be careful with Yiibo people, because so many of them hate Yoruba people with passion...just because their brother Peter Obi lost the presidential election...

blabulu2000:
Yoruba man can use his office to grant loan for Yiibo state..but Okojo -Wahala came to France.with no support for his country because no be her brother was the president.....
Adeshina Akinwunmi...you better be careful with Yiibo people, because so many of them hate Yoruba people with passion...just because their brother Peter Obi lost the presidential election...

Ronu terrorists are wailing as we leave them behind

MXrep:

Indomie generation. Go and research debt forgiveness by Paris and London Club facilitated by Okonjo Iweala under Obasanjo. Oga, we no be your mate, stop the petty comparison

I died, Lol. What has she done for Nigeria since her assuming the WTO office?, illiterate ipob. And to correct your gaffe, Mr ancient generation, OBJ facilitated the debt forgiveness in his capacity as the President while Ngozi was sent to sign the neccessary documents as his subordinate. And as soon as OBJ found out that she did a shoddy job during the negotiation, she was immediately demoted to a junior minister-- FACTS!

Epistasis:
Abi again... At least the loan will help to save that land from erosion and refuse taking over the state completely.
Thank you Adesina for saving our brothers from human disasters!

See the real human disaster that needs Adesina attention

Which one be yoruba igbo again. Abeg make we dey as one

femisplash:

I died, Lol. What has she done for Nigeria since her assuming the WTO office?, illiterate ipob. And to correct your gaffe, Mr acient generation, OBJ facilitated the debt forgiveness in his capacity as the President while Ngozi was sent to sign the neccessary documents as his subordinate. And as soon as OBJ found out that she did a shoddy job during the negotiation, she was immediately demoted to a junior minister-- FACTS!

Lol, yorubas are funny. Buhari failure is now Okonjo Iwaela fault while Alex Otti's success is now credited to Adesina. Jokers

If $115m is for rehabilitation, please how much is the road gangan

MXrep:

Lol, yorubas are funny. Buhari failure is now Okonjo Iwaela fault while Alex Otti's success is now credited to Adesina. Jokers

Be like you don sip abakaliki weed. Wetin bring Buhari enter dis mata?, did she serve as a minister under Buhari?

femisplash:

Be like you don sip abakaliki weed. Wetin bring Buhari enter dis mata?, did she serve as a minister under Buhari?

No be under Buhari government Okonjo iweala assume office at WTO? Did Buhari approach them with bankable projects like Otti did with AfDB?

MXrep:

No be under Buhari government Okonjo iweala assume office at WTO? Did Buhari approach them with bankable projects like Otti did with AfDB?

God abeg!. Did you read the article where Afdb has initiated 48 operations valued at $4.2b at both federal & state levels under Adesina. Do you think we nominated Ngozi and lobbied for her with our resources to be only tying gele and taking pictures in her office?

Alex the magic fingers

MXrep:

See the real human disaster that needs Adesina attention

We thank the Lord...the governor of my state didn't pack refuse from a major road.
Erosion and flood should take it easy with our brothers in AfghaEastern.

Nice one Abia

femisplash:
When he was cuddling up to Mr.President, some hateful nonetities were castigating him. Akinwumi Adesina has been facilitating several funding and projects in Nig. including a new youth development bank. What has Okonjo Iweala used her office to facilitate to Nigeria since she occupied office?

Afdb is a bank
so do you think WTO is a bank too why the comparisons at least try know there function before you start with your finger pointing