The World Bank has projected that growth will rebound in African economies from 2.6 per cent in 2023 to 3.4 per cent in 2024 and 3.8 per cent in 2025. This is contained in a statement issued by the World Bank on its latest Africa’s Pulse Report released...
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A new World Bankworld World w wereport says the global digital landscape remains uneven and is becoming synonymous with a development divide. This is contained in a statement issued by the World Bank on its new “Digital Progress and Trends Report 2023″, a copy of which was obtained...
The Federal Government and the World Bank are targeting three billion dollars to fund additional 120,000km fibre optic cables to leap frog broadband infrastructure and connectivity in Nigeria. The Minister of Communications, Innovations and Digital Economy, Dr Bosun Tijani, disclosed this in Abuja on Tuesday at a stakeholders’...
Federal Government has unveiled plan to upscale its World Bank-partnered project, the Nigeria for Women Project (NFWP) to target more rural communities for economic empowerment. The Minister of Women Affairs, Mrs Uju Kennedy-Ohanenye, made this known during a strategic meeting with the World Bank, UNICEF and other key partners...
The Secretary to the Enugu State Government (SSG), Prof. Chidiebere Onyia, says 50 per cent of pupils in the state can neither read in English nor solve simple mathematics questions. Onyia stated this while delivering a keynote address titled, “Smart Basic Education and the Future of Africa” at...
The Nigeria Labour Congress (NLC) has condemned the advice by the World Bank to the Federal Government to increase petrol prices to N750 per litre . Mr Joe Ajaero, NLC President, said this on Friday in Abuja in a statement, titled,”World Bank’s N750 per litre for premium motor...
By EZEKIEL OBI, Abuja – The lawmaker representing Kogi Central Senatorial District, Senator Natasha Akpoti-Uduaghan, has tasked the federal government to take advantage of investment opportunities in the blue economy to turn the fortunes of the country. The lawmaker stated this Wednesday when the joint Senate/House of Reps...
By JOHN ONAH, Abuja – The Federal Capital Territory Administration (FCTA) has allocated the sum of $4.5 million to the FCT Fadama CARES programme to implement three disbursement linked Indicators (DLIs) out of a total allocation of $15 million made available to the FCTA by the World Bank...
By EZEKIEL OBI, Abuja – The Socio-Economic Rights and Accountability Project (SERAP) has called on the World Bank to suspend issuing loans to Nigeria’s 36 states over allegations of mismanaging public funds which may include loans obtained from the institution. In the letter dated 25 November 2023,...
The World Bank and the Global Fund to Fight AIDS, Tuberculosis, and Malaria (the Global Fund), have signed a Memorandum of Understanding (MoU) to strengthen health systems in countries of the Global South. This is contained in a statement issued by the World Bank Online Media Briefing Centre on...
The Gombe State government has signed a N12 billion contract with Triacta Nigeria Limited for a 21-kilometre gully erosion control works in six communities within Gombe metropolis. The contract signing ceremony, which took place in Gombe on Wednesday between the state government and Triacta, was witnessed by Gov....
The World Bank says Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) programme is doing well in addressing poverty in the country. Prof. Foluso Okunmadewa, World Bank Task Team Leader for NG-CARES, stated this in an interview with newsmen on the sidelines of Mid-Term Review Mission meeting held...
The World Bank has come under criticism from Ugandan opposition leader Robert Kyagulanyi, alias Bobi Wine, for selectively championing gays rights and ignoring others. On August 8, 2023, the global lender halted new loans for Uganda’s development projects, following the country’s enactment of Anti-homosexuality Act, 2023. The move will affect...
The World Bank/Federal Government Agro-Processing, Productivity Enhancement and Livelihoods Improvement Support (APPEALS), Project, says the project has lifted over 55,000 Nigerians out of poverty. Mr Mohammed Jobdi, the National Project Coordinator of APPEALS disclosed this during the inspection of the level of implementation of the project in Enugu State on...
Gov. Peter Mbah of Enugu State has pledged his administration’s commitment to sustain World Bank/Federal Government Agro-Processing, Productivity Enhancement and Livelihoods Improvement Support (APPEALS), Project in the state. Mbah made the pledge when the World Bank, FG, and APPEALS teams paid him a courtesy visit at Government House, Enugu...
The World Bank has provided one billion dollars to strengthen resilience and improve the livelihood of the people in the countries affected by the insurgency in the Lake Chad. The bank’s Country Manager for Chad, Mr Rasit Pertesv, made this known on Thursday during the Fourth Lake Chad Governor’s...
The World Bank said on Tuesday that it planned to commit additional 750 million dollars to deepen Nigerians access to electricity through the Nigeria Electrification Project (NEP).o of Ms Elizabeth Huybens, the World Bank’s Director of Strategy and Operations for Western Central African Region, said this while inspecting the 60...
The World Bank has approved a fresh $500 million loan for Nigeria to help improve the livelihood of women in Nigeria. Disclosing this in a statement, the World Bank said, “it has approved $500 million for Nigeria for Women Program Scale Up (NFWP-SU). The scale-up financing will further support...
No fewer than 6,062 farmers in Lagos State have received agricultural inputs and production assets from the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) programme, a World Bank supported project. Mr Jonathan Obayemi, State Project Coordinator, Lagos N-CARES, stated this at the distribution exercise in Alimosho Local Government...
High interest rates and the Russian war in Ukraine continue to significantly slow global economic growth, according to a new report from the World Bank. Following growth of 3.1 per cent last year, the global economy would slow to 2.1 per cent in 2023, the World Bank said on...