President, Muhammadu Buhari will inaugurate the new office complex of the African Development Bank in Abuja on Thursday, consolidating the country’s position as the bank’s largest shareholder.
The state-of-the-art Nigeria Country Department (RDNG) office complex, situated in the Central Business District of Abuja, the first permanent structure to be designed and constructed in any regional member country by the bank.
Nigeria is AfDB’s largest shareholder with a portfolio of approximately $6bn and country operations accounting for 13 per cent of the lender’s total portfolio.
Following the Board of Directors’ approval of the “Rent or Acquire Premises for Field Offices” policy and the recommendation to construct a new office in Nigeria, construction work started in January 2016 and lasted 16 months. The 220-staff capacity four-storey building would now become a model for replication in other countries, the bank said in a statement on Sunday.