Nigeria - Afe Babalola University

This project involves a corporate loan of up to US $ 40 million to finance the expansion project of Afe Babalola University (ABUAD) in Ado Ekiti, Nigeria. ABUAD is a private university established in 2010 in Ado-Ekiti, southwestern Nigeria, to address the mismatch between academic programs and the demands of the labor market in the country. This university comprises five faculties for undergraduate students (Science, Social Sciences and Management, Law, Engineering, Medicine and Health Sciences) and a graduate school. The expansion project involves the construction of new facilities, namely a 400-bed university hospital, an industrial research park, a graduate school, university campuses, a central library, a mini hydro-electric power station and strengthening the administrative and governance structures of ABUAD. The Bank's loan to the project will reinforce the momentum of the institution's efforts towards the development of the higher education sector.