Global growth will slow down over the next two years in the face of “fresh threats” from COVID-19 variants and rising inflation, debt and income inequality, the World Bank said on Tuesday in its latest report. While economic growth experienced a strong rebound in 2021, it is expected to...
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The House of Representatives has approved President Muhammadu Buhari’s loan request of 5.8 billion dollars and grant of $10 million. The loans are to be sourced from the World Bank, Islamic Development Bank, China Exim bank, Chinese Africa Development Fund, and International Fund for Agricultural Development. In approving the...
By HARUNA AHMED, Kano – The World Bank has lauded the successes recorded in its Agro-processing Productivity Enhancement and Livelihood Improvement Support Project in Kano State. The World Bank Task Team Leader, Dr Adetunji Oredipe, gave the commendation on Saturday while fielding questions at the 7th implementation support mission...
The World Bank Group has called on the Federal Government to impose special taxes on alcohol, cigarettes and sugar-sweetened beverages to improve primary healthcare. “If we want to improve healthcare in Nigeria, we need to tax the things that are killing us. “The economic rationale for taxing these products...
The Minister of Power, Mr Abubakar Aliyu, has assured the Republic of Chad of Nigeria’s continuous interaction on power interconnection. Mr Odutayo Oluseyi, Assistant Director, Press, Ministry of Power, in a statement in Abuja on Tuesday quoted Aliyu as saying this while receiving the Chadian Ambassador, H.E Abakar Chahaimi,...
The World Bank has commended Kogi on its 2020 audited financial statement, describing the financial report as a standard for transparency and accountability in the public sector. The bank gave the commendation in a letter addressed to the state’s Accountant -General and dated Nov. 21. The letter was received...
The Nigerian National Petroleum Company (NNPC) Limited started its activities for the week at the World Bank Nigeria Development Update in Abuja, with a fresh commitment to the ongoing reform in the oil and gas sector in Nigeria. The event which held at the Transcorp Hilton Hotel in Abuja...
Experts have expressed divergent views over the International Monetary Fund (IMF) advice to the Federal Government to ensure total removal of electricity and petrol subsidies. They expressed the views in interviews with the News Agency of Nigeria (NAN) in Lagos on Thursday. A financial analyst, Mr Johnson Chukwu, said...
The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed this in its Nigeria Development report, which was released on Tuesday. The report...
The Governor of Kaduna State, Malam Nasir El-Rufai, has said the state governments are ready to support the Federal Government in the elimination of fuel subsidy regime. El-Rufai gave the assurance on Tuesday in Abuja, at the presentation of the World Bank Nigeria Development Update, November 2021 edition titled...
The project monitoring committee in Ikot-Nkebre community in Calabar Municipality has appealed to the World Bank not to abandon their erosion work at the Agro-field and the community road that was destroyed while reclaiming the gully in the community. Speaking to journalists in Calabar, Mr Emmanuel Ewa, Secretary of...
Afghanistan’s acting Foreign Minister Amir Khan Muttaqi has written an open letter to U.S. Congress, calling on the United States to unfreeze Afghanistan’s assets, the ministry confirmed in a statement on Wednesday. “Despite the fact that following the signing of the Doha Agreement in February 2020, we no longer...
The Bauchi state government is poised to access N30billion grant from the World Bank, to address the state’s myriad environmental challenges, Kabir Ibrahim, The Director-General of the state Environmental Protection Agency (BASEPA) has said. Ibrahim told the News Agency of Nigeria (NAN) in an interview in Bauchi, on Sunday,...
The Governor of Borno State, Babagana Zulum on Thursday laid the foundation stone of 2,275 length township road and drainage system in Gwoza Local Government Area of the state. The construction work is to be handled by Nigeria Erosion and Watershed Management Project (Newmap) which is being funded jointly...
The Federal Government in collaboration with the World Bank Assisted Mineral Sector Support for Economic Diversification (MinDiver) Project has begun a National training programme on Jewellery making for 40 Nigerian youths. Mr Olamilekan Adegbite, Minister of Mines and Steel Development (MMSD) made this known at the Gemstone and Jewelry...