The African Development Banks says it is focusing more on the private sector operations to implement its high five priority projects in Nigeria.
Victorial Chisala, AfDB’s Division Manager, Corporate Performance and Accountability, disclosed this on Thursday in Abidjan, Cote d’Ivoire, while briefing Journalists on the Bank’s 2017 Annual Development Effectiveness Review.
Chisala said more focus was on the private sector because the government had almost capped its borrowing capacity with the bank.
The News Agency of Nigeria reports that the bank’s high five priority projects are Light up Africa, Feed Africa, Industrialise Africa, Integrate Africa and Improve quality of life for people of Africa.
Chisala said: “What I know when it comes to Nigeria is that it is almost at its cap at the borrowing capacity of the public sector.
“It is a challenge but also creates an opportunity because what the bank is doing now is to increase private sector operations in Nigeria.
“This means that we have to review our profile in Nigeria.
“We will need to increase our presence and also engage more with our partners.”
Chisala added that apart from partnering with the private sectors, the bank had also promote other social sectors, adding that the bank had increased its presence recently in the country.
She said the bank had increased the number of its staff in Nigeria considering the population of the country.
This, she said, would help the bank to operate effectively and meet up with the new challenges in the Country.