AfDB official vents frustration at Nigeria being “the most difficult” client
By Jeph Ajobaju, Chief Copy Editor
“The Nigerian government is the most difficult client,” says an official of the African Development Bank (AfDB) who recounts how Abuja people would ask “[why are] you … pushing too much” when the bank seeks to facilitate economic growth.
Banji Oyelaran-Oyeyinka, a Professor and Senior Special Adviser to AfDB President Akinwunmi Adesina, bared his mind in an address at the third Biennial African Scientific Integration Network Conference hosted by the Centre for Energy Research and Development, Obafemi Awolowo University (OAU), Ile-Ife.
His paper virtually on “Science, Technology and Innovation for Sustainable Development” was delivered virtually.
Oyelaran-Oyeyinka spoke of a loan the AfDB board approved for Nigeria and how Abuja delayed its approval when he was responding to questions on what the AfDB is doing to facilitate industrial growth in Nigeria.
“I can tell you we have many projects in Nigeria and I am leading one of them. For the Special Arrangement Industrial Processing Loan, we raised $540 million for each zone in Nigeria.
“We raised it, and the board of the AfDB approved it on December 13 but the Ministry of Finance did not sign until June 1. We were begging them to sign. By the way, this loan has less than a one per cent interest rate for 25 years and an eight-year moratorium. It is like someone is giving you money for free.”
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Nigeria, a tough client
“Other countries have just one zone and they have been calling to thank us, thank the [AfDB] President [Akinwunmi Adesina], thank everyone for what you have done for us, but in Nigeria, you will be asked why you are pushing too much.
“We were supposed to launch the project by March 1. The Nigerian government is the most difficult client,” Oyelaran-Oyeyinka said, per The PUNCH.
OAU Vice Chancellor Simeon Bamire, a Professor, said the prevalent global environment is creating challenges for poor, small, landlocked, as well as resource-dependent economies.
He urged the conference to identify these challenges and proffer solutions to them.
