Nigeria has secured a 500 million dollar loan from the African Development Bank to strengthen economic governance, reform the power sector, and support the country’s energy transition goals. The funding will back fiscal reforms, electricity upgrades, and new climate commitments for 2026 to 2030.

The Lekki Deep Sea Port is expected to inject as much as $360 billion into Nigeria’s economy and generate approximately 170,000 jobs during its 45-year concession period, according to Managing Director Wang Qiang.