Banking Business Economy

FIRS to capture new 45m taxpayers before December-Fowler

Ihesiulo Grace 4 October 2019 0

…As States IGR grew by 46.11% to N1.16trn in three years As part of efforts to increase the nation’s revenue through taxation, Federal Inland Revenue Service (FIRS) has said about 45 million Nigerians will be captured as taxpayers before December 2019. Also, the Internally Generated

Banking

World Bank appoints Chaudhuri Country Director for Nigeria

Ihesiulo Grace 2 October 2019 0

Abuja – The World Bank has appointed Mr Shubham Chaudhuri as the new Country Director for Nigeria, succeeding Mr Rachid Benmessaoud who completed his term recently. A statement issued by the World Bank’s Senior Communications Officer, Nigeria, on Wednesday in Abuja, said Chaudhuri assumed office on Tuesday. It said that Chaudhuri, a U.S. national who […]

Africa Banking Business World

FG to get $2.5bn loan from World Bank

Ihesiulo Grace 20 September 2019 0

The Federal Government has approached the World Bank for a loan of $2.5billion, World Bank’s Vice President for Africa, Hafez Ghanem revealed. Ghanem explained that the World Bank was in talks with the Nigerian government for the concessionary loan. He, however, noted that Nigeria had received $2.4billion from the global financial institution in 2018. According […]

Health News Wellbeing World

FG approves N2.24bn rehabilitation, water system upgrade in Adamawa

Ihesiulo Grace 6 September 2019 0

The federal government has approved N2.244 billion for the rehabilitation and upgrading of water supply in eight towns affected by insurgency in Adamawa state. Adamawa state Project Coordinator, Maurice Vunobolki, made this known in Yola on Thursday during the contract signing agreements with the six contractors for the immediate take-off of the eight–month projects. He

Africa Banking Business

We’re investing $25bn to make agribusiness Africa’s biggest industry -AfDB

Ihesiulo Grace 30 August 2019 0

…Trade within AfCFTA worth $3.3trn – Adesina Philip Clement – Abuja The African Development Bank (AfDB) says it is currently investing $25 billion to help make agriculture and agribusiness Africa’s biggest industry. The AfDB, also, disclosed that the size of trade within the African Continental Free Trade Area (AfCFTA) is worth 3.3 trillion dollars. The

Banking Business Power & Energy

World Bank, AfDB boost Nigeria’s power sector with $961m

Ihesiulo Grace 20 August 2019 0

Michael Ajayi Not less than a total sum of $961 million or N349.8 billion was raised from the World Bank and African Development Bank (AfDB) in 2018 alone for power transmission investment. The Managing Director of Transmission Company of Nigeria (TCN), Usman Gur Mohammed, reportedly disclosed this recently in Abeokuta, while maintaining that the funds […]

News

Nigerian-born World Bank director, Haruna Mohammed has died

Ihesiulo Grace 6 February 2019 0

World Bank has announced the death of Haruna Mohammed, Executive Director for Nigeria, Angola, and South Africa. Ousmane Diagana, World Bank Group’s Vice President, Human Resources, said in a statement that Mohammed passed away on Friday at Georgetown Hospital in Washington, DC. “Before being appointed Executive Director in October 2018, Mohammed was serving as the […]

Business Headlines

Nigeria’s GDP to hover below 2 percent in 2018 – World Bank

Ihesiulo Grace 29 November 2018 0

…Says economy remains sluggish with unstable sectoral growth …Wants FG to implement key policy reforms The World Bank has said Nigeria’s Gross Domestic Product (GDP) growth is expected to hover slightly below 2 percent in 2018, largely driven by non-oil industry and services. The World Bank stated this in its Nigeria’s bi-annual Economic Update released […]

News Nigeria

Education reforms: Niger, Edo, Kebbi to benefit from World bank education Global practice program

Ihesiulo Grace 29 November 2018 0

Three states: Niger, Edo and Kebbi State Governments are to benefit from the World Bank, Education Global Practice program. Indication to this came to the fore in Abuja on Wednesday when Governor Abubakar Sani-Bello of Niger State, Godwin Obaseki – Edo State and Atiku Bagudu – Kebbi state held a meeting with the global apex […]

Business News

Global external debt hits over $7tr – W/Bank

Ihesiulo Grace 19 November 2018 0

…Nigeria, South Africa highest debtors …Portfolio equity inflows rise to $57bn The World Bank has said that the International Debt Statistics (IDS) 2019 external debt stocks at end-2017 stood at over $7 trillion. The IDS disclosed this at the weekend in its statistics and analysis on the external debt and financial flows (debt and equity) […]

Business

Ease of doing business: Nigeria ranks 146 out of 190 countries

Ihesiulo Grace 1 November 2018 0

The World Bank’s 2019 Doing Business Index (DBI) has reported an improvement in Nigeria’s ease of doing business score from 51.52 to 52.89. The report, which was released on October 31, 2018 also ranked Nigeria 146 out of 190 countries assessed in the 2017/2018 reform year. The Doing Business Index is an annual ranking that […]

News

A/Ibom partners World Bank on erosion control

Ihesiulo Grace 31 October 2018 0

Respite is underway for motorists that ply the Ibrahim Babangida Way in Uyo as Akwa Ibom State government has partnered the World Bank to address the flooding menace plaguing the area and other environmental degradation in various parts of the State. The State Project Coordinator of the World Bank Nigeria Erosion and Watershed Project (NEWMAP), […]

Editorial

World Bank rating and EODB in 5 states, FCT

Ihesiulo Grace 22 October 2018 0

Nigeria’s ranking on Ease of Doing Business (EODB) has received a boost as the World Bank on Thursday announced that five states in the country- Lagos, Kaduna, Abia, Enugu, Anambra and the Federal Capital Territory (FCT) – are making stride to improve the ease of doing business for domestic small and medium enterprises (SMES). The […]

Business Headlines

Half of world’s population lives under poverty – World Bank

Ihesiulo Grace 16 October 2018 0

The World Bank has said that economic advances around the world mean that while fewer people live in extreme poverty, almost half the world’s population – 3.4 billion people still struggles to meet basic needs. The World Bank disclosed this on Monday in its biennial Poverty and Shared Prosperity Report, “Piecing Together the Poverty Puzzle.” […]

Business

IFC, AfDB, other DFIs unlock $9bn for developing countries

Ihesiulo Grace 11 October 2018 0

International Finance Corporation (IFC), a member of the World Bank Group; African Development Bank (AfDB) and other development finance institutions (DFIs) last year used about $1.2 billion in concessional funds to support nearly $9 billion in private investment projects in emerging markets, according to a new DFI report that highlights how blended concessional finance

Business Headlines

Experts urge Nigeria, others to tax e-commerce appropriately

Ihesiulo Grace 10 October 2018 0

Tax experts at the on-going IMF/World Bank Group Annual Meetings in Bali urged Nigeria and other countries to issue appropriate taxation regulations and tax rates to suit e-commerce businesses in their countries. This was a consensus reached during a panel discussion on Wednesday in Bali, Indonesia, titled “Fair and Transparent Taxation in a Digital Age”. […]

Business

World Bank commits $124m to exploration of Nigeria’s industrial minerals

Ihesiulo Grace 26 September 2018 0

The World Bank has concluded a deal with the Federal Government to invest $123.5 million in the exploration of industrial minerals in Nigeria. The Consultant, Vitor Carrieia, disclosed yesterday in Abuja while unveiling the Industrial Minerals Roadmap that the document has a five-year implementation period. He stated that there was no need for Nigerians to […]

Abia Times News

Abia, World Bank begin census of erosion sites

Ihesiulo Grace 26 August 2018 0

Abia State Government, in liaison with the World Bank has concluded plans to enumerate all erosion sites in the state. The state Commissioner for Environment, Dr. Aham Uko disclosed this to newsmen last Saturday after the state monthly cleanup exercise, adding that already the state governor, Dr. Okezie Ikpeazu has mandated him to ggo round […]

News Nigeria

21,000 unemployed Bayelsa indigenes to benefit from CBN/World Bank scheme

Ihesiulo Grace 4 August 2018 0

A Non-Governmental Organisation, Visioned Skills Development Center (VSDC), has announced that over 21,000 unemployed youths from Bayelsa State will benefit from special grants from the World Bank/Central Bank scheme to reduce unemployment and promote entrepreneurial skills. The Chief Executive Officer of VSDC, Apostle Isreal Kama, who made this known in Yenagoa during the

Business News

W/Bank urges African Govts to embrace PPP

Ihesiulo Grace 20 June 2018 0

The World Bank on Tuesday urged African governments to embrace the use of Public Private Partnerships (PPPs), in order to bridge their infrastructure deficit gaps. The programme leader for Equitable Growth, Finance and Institutions at the World Bank Group, Johan Mistiaen, told journalists in Nairobi that the financing gaps in infrastructure in the continent are […]