African Development Bank and Partners Launch a $263.8 Million Infrastructure Project to Transform Urban Development in Abia State
The project addresses critical infrastructure gaps in urban transport, erosion control and waste management which have long constrained mobility, public health and economic productivity in the cities of Umuahia and Aba in Abia State.
The African Development Bank is contributing $115 million to the project, including $100 million from its ADB window and $15 million from the Canada-AfDB Climate Fund (CACF). The Islamic Development Bank is co-financing with $125 million, while the Federal Government of Nigeria is providing $23.8 million in counterpart funding.
The project will rehabilitate more than 248 kilometers of roads in the cities of Umuahia and Aba, restore two erosion sites, and catalyze private sector investment in solid waste management through public-private partnerships.
Abia State, like many rapidly growing regions, has faced mounting infrastructure challenges driven by urban expansion, environmental pressures and limited investment over time. Cities such as Umuahia and Aba are contending with aging roads, erosion threats, and strained waste systems. This project signals a decisive shift toward integrated, climate-resilient urban development that supports inclusive growth and long-term sustainability.
Speaking at the launch, Dr. Alex C. Otti, Governor of Abia State, said the initiative marked a defining moment in the State's infrastructure renewal agenda: "The fruits of development are richer when supported by partners who believe in your vision. We are focused on raising living standards, expanding access to education and healthcare, and driving economic productivity. Investor confidence is growing, public optimism is rising, and Abia is emerging as a destination of choice for opportunity and impact.'
The project is expected to generate over 3,000 temporary jobs during the construction phase, with 30 percent reserved for women, and approximately 1,000 permanent jobs during the operational phase. A key feature of the project is its focus on youth employment and skills development: 50 percent of the permanent roles will go to young people, who will be trained through the State Youth Road Maintenance Corps—a cadre of local engineers drawn from all 17 Local Government Areas of Abia State.
Dr. Akande Oyebola, Assistant Director at the International Economic Relations Department of the Federal Ministry of Finance, reaffirmed the Government's support: 'This initiative represents a significant milestone in our collective effort to drive economic growth, strengthen infrastructure, and improve the quality of life for the people of Abia State.'
Dr. Abdul Kamara, Director General of the African Development Bank's Nigeria Country Department, commended the leadership of the federal and state governments. 'This project is rooted in partnership, ambition and long-term impact,' he said. 'At its core, this project is about lives, it is about reducing travel time by half, increasing incomes, improving access to schools and hospitals, and creating space for entrepreneurs, particularly women and youth, to thrive.'
Beyond the physical infrastructure, the project incorporates comprehensive social and environmental safeguards. These include training for women and youth entrepreneurs, resettlement support, HIV/AIDS and STI awareness campaigns, and strengthened systems for procurement and financial management.
Otumchere Oti, Abia State Commissioner for Works, reaffirmed the State's commitment to accountable delivery.
'Today we reassure all stakeholders, our development partners, contractors, communities, and government institutions, that implementation will be guided by diligence, transparency, and accountability. Our monitoring mechanisms are robust, and our resolve is strong. This is a defining moment for Abia State, and we shall rise to it with determination and unity,' he said.
The African Development Bank will provide technical support, capacity building, and close implementation supervision through its Nigeria Country Department and sector teams.
The launch of the Abia State Integrated Infrastructure Development Project marks a key milestone in the Bank's commitment to advancing Nigeria's development priorities through inclusive, sustainable infrastructure investment.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Contact:
Nkiruka Henrietta Ugoh
Nigeria Country Department
media@afdb.org
About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fintech News ME
6 minutes ago
- Fintech News ME
Turkish Airlines Secures First Islamic Aircraft Financing with Dubai Islamic Bank
Dubai Islamic Bank (DIB) has completed a notable aircraft financing transaction with Turkish Airlines, the national flag carrier of Türkiye. The deal marks the airline's first use of Islamic finance and represents a broader shift towards incorporating Shariah-compliant structures in the aviation sector. Structured as a 12-year Islamic lease (Ijarah), the transaction supports the acquisition of a new Airbus A350-941, now part of the Turkish Airlines fleet. DIB acted as the financier, with the deal forming part of the airline's ongoing strategy to diversify its funding sources. The agreement highlights the increasing role of Islamic finance in complex cross-border transactions. It also reinforces DIB's commitment to promoting ethical finance globally, particularly in capital-intensive sectors such as aviation. Dr Adnan Chilwan, Group Chief Executive Officer of DIB, said: 'For Turkish Airlines to embrace Shariah-compliant financing for the first time and to choose DIB as their Islamic finance provider reflects both the strength of our principles and the confidence they have placed in our capabilities.' Professor Ahmet Bolat, Chairman of the Board and the Executive Committee at Turkish Airlines, added: 'This transaction demonstrates our commitment to financial innovation and strengthening our fleet while also marking a new chapter in our cooperation with leading institutions in the UAE and the broader Gulf region. We are pleased to have completed this landmark financing in collaboration with DIB and look forward to building on this partnership in the future.' The deal is seen as a milestone in strengthening economic ties between the UAE and Türkiye, while also expanding the scope of Islamic finance into new markets and sectors.
Zawya
36 minutes ago
- Zawya
Baladna signs contracts worth over $500mln for integrated agri-industrial project in Algeria
Algeria - The Algerian capital today witnessed the signing of initial contracts valued at over USD 500 million between Baladna Algeria and a group of Algerian and international suppliers and consultants. The contracts are part of the first phase of Baladna's integrated agri-industrial project for powdered milk production in Algeria, which represents a total investment of USD 3.5 billion. These agreements mark the official start of this strategic investment, aimed at enhancing food security and reducing reliance on imports—contributing positively to the national economy. Baladna Algeria is a joint-stock Algerian company established through a partnership between Baladna Q.P.S.C. and Algeria's National Investment Fund. The signing ceremony was attended by the Director General of the National Investment Fund; the Ministers of Agriculture, Rural Development and Fisheries; Environment and Quality of Life; Industry; Water Resources; and Labor; the Secretary of State for the Algerian Diaspora Abroad representing the Ministry of Foreign Affairs; and a representative from the Ministry of Vocational Training and Education. Also in attendance were the Delegate Governor of Adrar Province, the Director General of the National Investment Promotion Agency, the Director General of the National Dairy Office, several representatives of national banks, representatives of relevant institutions and organizations, His Excellency the Ambassador of the State of Qatar to Algeria, and His Excellency the Ambassador of Algeria to the State of Qatar. From Baladna Q.P.S.C., the attendees included Mr. Moutaz Al-Khayyat – Chairman of the Board; Mr. Ramez Al-Khayyat – Board Member and Managing Director; Mr. Ali Al-Ali – Chairman of Baladna Algeria; Mr. Saifullah Khan – Board Member and Managing Director of Baladna Algeria; as well as representatives of the companies with whom the contracts were signed. The signed contracts cover a wide range of critical sectors, including agricultural technologies, production lines, irrigation equipment, water well drilling, steel and metal structure supplies, in addition to consultancy services in project management, topographic surveying, soil analysis, and environmental impact studies. Among the key international suppliers and consultants are GEA (Germany), a leader in dairy processing and automated milking systems; Valmont (USA), specialized in water-efficient irrigation systems; Urbacon UCC, a globally recognized contracting firm; and EHAF, a prominent engineering consultancy. Leading Algerian companies involved include Condor-Travocovia, RedMed Contracting, and EFORHYD, specialized in water well drilling. Mr. Moutaz Al-Khayyat, Chairman of Baladna, stated that the signing of these initial contracts, which form a key part of the project's first phase, marks a major milestone in what is considered one of the largest agri-industrial projects of its kind in the world. He said: "Today, we are taking a critical step in the execution of this integrated agri-industrial project for dairy and powdered milk production in Algeria, which aims to achieve self-sufficiency in one of the country's most essential and widely consumed food products. We are proud to bring together top-tier global and national expertise through collaboration with leading companies from the United States, Germany, Qatar, and Algeria. These combined efforts will ensure the project is delivered on schedule and according to the highest international standards—starting with field studies, soil and water analysis, construction, and the design and implementation of world-class irrigation networks and production lines." The Baladna Algeria project is among the largest in the world and the first of its kind in Algeria. Spanning 117,000 hectares, the project is being developed through a strategic partnership between Baladna Q.P.S.C. and the Algerian government, represented by the National Investment Fund. The initiative focuses on dairy cow farming and powdered milk production, and is expected to supply 50% of Algeria's national demand for powdered milk locally—supporting the country's goal of self-sufficiency. It will also contribute to the supply of red meat and create more than 5,000 job opportunities for the local workforce. Mr. Ramez Al-Khayyat, Board Member and Managing Director of Baladna, affirmed the rapid progress of the project and praised the collaboration with a distinguished group of companies. He commented: "We have signed a package of contracts covering critical sectors for this phase of the project—namely the first phase—which includes land preparation and construction work for two out of four farms, one out of two processing plants, and 700 pivot irrigation units out of a total of 1,400. Before the construction phase is completed, production will commence following the establishment of the dairy herd in 2026." © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
36 minutes ago
- Zawya
UAE's Aldar reports 25% jump in Q2 net profit, beats estimates
Abu Dhabi real estate developer and asset manager Aldar Properties reported a 25% year-on-year (YoY) growth in Q2 2025 net profit to 2.2 billion UAE dirhams ($599 million) on strong development sales and expansion of its investment properties portfolio. The effort easily beat analysts' mean estimate of AED 1.82 billion, according to data provider LSEG. The Abu Dhabi-listed company reported AED 7.7 billion in revenue for the quarter, a 46% YoY growth. The company also saw a jump in its H1 figures, with net profit after tax rising 24% YoY to AED 4.1 billion. Assets under management reached AED 47 billion, with the company reporting AED 12.2 billion in free and unrestricted cash, and AED 17.5 billion in committed undrawn bank facilities as at end of June. Aldar's development backlog rose to AED 62.3 billion, including AED 53.4 billion in UAE. (Writing by Bindu Rai, editing by Brinda Darasha)
