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World Bank plashes $700m for water, sanitation in Nigeria

Ihesiulo Grace 17 November 2021 0

By Kingsley Chukwuka The 2018 declaration of state of emergency in Nigeria’s water, sanitation and hygiene, the World Bank has responded in assisting the country with $700 million to ameliorate the challenges associated with lack of clean water or the absence of it. The funds will be

News

COVID-19: AHBN charges CSOs to track World Bank’s $114.28m grant

Ihesiulo Grace 24 September 2021 0

By Doosuur Iwambe, Abuja Africa Health Budget Network (AHBN), a regional group that uses budget advocacy to influence adequate health spending, improved transparency and accountability is calling for transparent disbursement and utilisation of the US$114.28 million World Bank COVID-19 credit grant. To this end, the AHBN called on Nigerian-based Civil Society Organisations

Headlines Politics

W’Bank Report: Buhari lied, Nigerians hit by worst poverty, says PDP

Ihesiulo Grace 17 June 2021 0

*Counsels President to seek help Tunde Opalana, Abuja Barely 24 hours after the latest World Bank report on Nigeria’s economy was made public, the Peoples Democratic Party (PDP), has said that the President Muhammadu Buhari-led All Progressives Congress (APC) government has lied to Nigerians on all economic indices including poverty and employment rate. The party

Business Headlines

Stakeholders laud CBN on forex as inflation drops

Ihesiulo Grace 16 June 2021 0

*Apex bank’s interventions reflect positive growth of economy-Expert Motolani Oseni, Lagos And Philip Clement, Abuja Following the latest World Bank report on the impacts of the Central Bank of Nigeria’s (CBN’s) management of the foreign exchange regime, industry stakeholders have insisted that the country’s apex financial institution is on the right

Headlines News

W’Bank says seven million Nigerians dropped below poverty line in 2020

Ihesiulo Grace 16 June 2021 0

The World Bank has said that Nigeria’s Development Update shows that seven million Nigerians plunged below the poverty line in 2020 due to inflation. The global bank in a statement on its website on Tuesday, said: “In 2020 the Nigerian economy experienced a shallower contraction of -1.8% than had been projected at the beginning of […]

Business Headlines

Nigeria received over 40% of remittance to sub-Saharan Africa in 2020 —World Bank

Ihesiulo Grace 14 May 2021 0

*Despite 27.7 per cent decline in remittance flows A World Bank report on migration and development has revealed that Nigeria received over 40 per cent of sub-Saharan Africa’s share of remittances totaling $540 billion. The remittance flows were to low- and middle-income countries in 2020. The report released in Washington D.C. on Wednesday provides updates […]

News

World Bank to construct 13.16km Lagos farm roads

Ihesiulo Grace 13 May 2021 0

Lagos State Government says its World Bank-assisted Agro-Processing, Productivity Enhancement, Livelihood Improvement Support (APPEALS) Project will construct 13.16km Farm Access Roads (FARs) in four cluster areas. The state Commissioner for Agriculture, Ms Abisola Olusanya, said this on Thursday during the activities to commemorate the second year of Gov. Babajide

News

World Bank to provide COVID-19 finance to 50 countries by mid 2021, says President

Ihesiulo Grace 8 April 2021 0

The World Bank will provide 50 countries with finance to buy COVID-19 vaccines by mid-2021, Mr David Malpass, World Bank Group President has said. Malpass made this known on Wednesday in Washington D. C. during a news conference at the ongoing 2021 Spring Meetings which began on Monday. The president said that for the first […]

News

World Bank constructs 10 solar boreholes, rehabilitates 170 hand pumps in Yobe

Ihesiulo Grace 22 March 2021 0

The World Bank has constructed 10 new solar boreholes, rehabilitated 22 solar boreholes and 170 hand pumps across the 17 local government areas of Yobe. The project coordinator of the World Bank Multi Sectoral Crisis Recovery Project (MCRP), Alhaji Musa Jidawa, made this known in a solidarity message on the 2021 World Water Day celebration […]

Education News

World Bank to construct 159 schools, renovate 69 others in Kaduna

Ihesiulo Grace 3 March 2021 0

The World Bank, Adolescent Girls Initiative and Empowerment (AGILE) are to construct 90 Junior Secondary Schools (JSS), 69 Senior Secondary Schools (SSS), and renovate 69 others in Kaduna State. AGILE Project Coordinator in the state, Mr. Habibu Alhassan, made this known in an interview with the News Agency of Nigeria (NAN) In Kaduna on Wednesday. […]

Headlines News

W’Bank tasked on electricity projects in Nigeria, $500 million fresh aid

Ihesiulo Grace 8 February 2021 0

Socio-Economic Rights and Accountability Project (SERAP) has urged World Bank to insist on accountability and transparency in the use of its (the global financial institution’s) funds for Nigeria’s corrupt electricity sector. SERAP urged the world’s foremost finance body’s president, David Malpass, “to exercise the Bank’s prerogative to release

News

BREAKING: World Bank approves Nigeria’s $1.5bn loan request

Ihesiulo Grace 15 December 2020 0

Nigeria’s request for a $1.5 billion loan from the World Bank has been approved. On Tuesday, in a statement, the Bretton Wood institution said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. Daily Times reports that the bank said the facility was prepared jointly with the International […]

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World Bank ties growth to bold reforms in Nigeria

Ihesiulo Grace 11 December 2020 0

The World Bank Group has tasked Nigeria to sustain its bold reforms for containing the impacts of the COVID-19 pandemic in order to attain inclusive economic growth. Shubham Chaudhuri, World Bank Country Director for Nigeria, said this on Thursday in Abuja, at a media conference on the presentation of the World Bank Nigeria Development Update […]

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COVID-19: World Bank approves $114m for Nigeria to manage pandemic

Ihesiulo Grace 8 August 2020 0

The World Bank in statement on Friday said it has approved $114 million to help Nigeria tackle its coronavirus pandemic. READ ALSO: Health workers’ strike looms over COVID-19 allowance The World Bank Director for Nigeria, Shubham Chaudhuri, in a statement on Friday, said, “Nigeria has ramped up its efforts to contain the Covid-19 outbreak, but […]

Business Featured

COVID-19: Nigeria may go into severe recession, World Bank warns

Ihesiulo Grace 25 June 2020 0

ABUJA – The World Bank says collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. The World Bank made this known in a statement in Abuja on Thursday as part of its latest Nigeria Development Update (NDU). The […]

Business Featured

World Bank approves $750m power sector recovery operation for Nigeria

Ihesiulo Grace 24 June 2020 0

 The World Bank has approved a 750 million dollars International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO) to improve electricity supply. The Bank, in statement in Abuja on Wednesday, said that the target was to also achieve financial and fiscal sustainability and enhance accountability in Nigeria’s power sector. Yobe awards

Business

World Bank approves $48m to help Uganda contain locust plague

Ihesiulo Grace 22 May 2020 0

The World Bank said its board of executive directors has approved $48 million to help Uganda fight a desert locust invasion threatening livelihoods. The funds, under the Emergency Locust Response Programme, will help Uganda monitor and manage locust swarms to limit the growth of existing and new desert locust populations, the bank said in a […]

Featured News

Buhari seeks outright debt cancellation for Nigeria, others from IMF, World Bank

Ihesiulo Grace 4 May 2020 0

“Within the spirit of South-South cooperation, we must also assist one another, particularly the less developed and less endowed member states with technical, medical, and financial assistance. It is by so doing that we can rightly claim to uphold the Bandung Principles of equality, mutual interests, and cooperation.’’ President Muhammadu Buhari has said President Buhari

Business

World Bank disburses N43.416bn SFTAS grant to 24 states

Ihesiulo Grace 4 May 2020 0

A total of N43,416 billion ($120.6 million) has been disbursed to 24 states as performance-based grants from the World Bank. The grant which was distributed by the Federal Government to the eligible state is a result of the 2018 World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results According to a statement by the

Business

Nigeria’s public health gets $82m support from World Bank

Ihesiulo Grace 7 April 2020 0

The World Bank Group has released $82 million for immediate support in strengthening Nigeria’s public health response through the Regional Disease Surveillance System Enhancement Project (REDISSE). The global bank made this disclosure on Tuesday, explaining that it had been asked to provide a multi-pronged package of support over the next six months to strengthen the