• World Bank partners with states to combat erosion menace, plans to release $500 million

    World Bank partners with states to combat erosion menace, plans to release $500 million

    Nigeria Erosion and Watershed Management Project (NEWMAP), a programme of the World Bank, has announced that the bank has proposed $500 million to address erosion challenges across various states in Nigeria, adding that the amount will be accessed by benefitting states through payment of counterpart funds.

    Dr. Amos Abu, task Leader of NEWMAP stated this at an inspection of some erosion sites in Delta State, and acknowledged that the state government has paid its counterpart fund of N500 million to access its share of the money.

    Inspecting […]

  • NOUN partners World Bank, Kaduna govt to train artisans on skills acquisition

    NOUN partners World Bank, Kaduna govt to train artisans on skills acquisition

    It was gathered that the National Open University of Nigeria (NOUN) is set to train over 800 artisans in Kaduna State.

    The project will be executed in partnership with the World Bank, the Kaduna state government, the Federal Ministry of Industry, Trade and Investment, and Housing Developers Institute.

    The university’s Director of Media and Publicity, Malam Ibrahim Sheme, disclosed this shortly after a meeting between the institution and the said partners in Kaduna yesterday.

    At the meeting, the Director of NOUN’s Centre for […]

  • Nigeria signs $500 million agreement with World Bank

    Nigeria signs $500 million agreement with World Bank

    According to reports, the Federal Government on Thursday ruled out the need for the poorest and vulnerable Nigerians to apply online before they can benefit from the monthly N5,000 Conditional Cash Transfer.

    This was contained in a statement issued by the Vice President Yemi Osinbajo’s media office.

    The statement was responding to some misleading reports in the media regarding the implementation of the N500 billion Social Investment Programmes of the Buhari administration.

    It reads: “While we understand the need for an ongoing public […]

  • World Bank intervention in Nigeria’s agriculture hits $1.5bn

    World Bank intervention in Nigeria’s agriculture hits $1.5bn

    According to reports, the World Bank says the worth of its running projects in the Agriculture sector in Nigeria is 1.5 billion dollars.

    The Senior Chief Agric. Economist of the organisation, Dr Adetunji Oredipe, made this known to newsmen at a live Video Conference to celebrate “End Poverty Day.’’

    He said that in Africa, the bank’s strategy to ending extreme poverty and boosting prosperity was through investment in agriculture.

    He said that the bank dedicated 10 per cent of its total portfolio in […]

  • FG, World Bank, others reach agreement for Nigeria’s Development Bank

    FG, World Bank, others reach agreement for Nigeria’s Development Bank

    According to reports, the Federal Government has reached agreement with the World Bank Group and other development partners for the release of $1.3 billion for the take-off of Development Bank of Nigeria (DBN).

    The Minister of Finance, Kemi Adeosun, with the Governor of Central Bank of Nigeria (CBN), made the fact known at a joint press briefing in Washington on Sunday.

    The briefing was to announce the achievements of the Nigerian delegates at the 2016 IMF/World Bank Annual General Meetings.

    Adeosun re-empasised that […]

  • World Bank donates $50m to states affected by Boko Haram insurgency

    World Bank donates $50m to states affected by Boko Haram insurgency

    According to reports, the World Bank has donated the sum of $50 million Dollars to assist six states of Borno, Yobe, Adamawa, Bauchi, Taraba and Gombe affected by Insurgency under the FADAMA programme.

    The leader of the World Bank delegation, Dr. Adetunji Oredipe, who stated this to Journalists in Yola, Adamawa State, said the reason for carrying out such project is to deal with the negative impact of insurgency that have affected the people of the North-eastern states.

    Oredipe further explained that […]

  • World Bank donates 50 million dollars to revive North-East

    World Bank donates 50 million dollars to revive North-East

    It was gathered that thee World bank has donated the sum of 50 million dollars to assist the six insurgent affected North-Eastern states of Borno, Yobe, Adamawa, Bauchi, Taraba and Gombe under the FADAMA programme.

    The Team Leader, Dr. Adetunji Oredipe who stated this while speaking to newsmen, said the reason for carrying out such project was to deal with the negative impact of insurgency that had affected the people in those states.

    According to him, “the project is a combined effort […]

  • World Bank study blames low productivity for poor service delivery

    World Bank study blames low productivity for poor service delivery

    A research report has revealed that low productivity of workers rather than the availability of personnel or geographical structures are the factors responsible for poor service delivery in Nigeria’s education and health sectors.

    While appealing for increased spending, the study, which was conducted by the World Bank in partnership with the African Economic Research Consortium and the African Development Bank Group, suggested improved services to address the identified issues.

    At a two-day workshop with the media and civil society organisations in Abuja, […]

  • World Bank Launches Massive Solar Energy Programme In Nigeria

    World Bank Launches Massive Solar Energy Programme In Nigeria

    According to reports, the International Finance Corporation, IFC, a member of the World Bank group in collaboration with the United Kingdom’s Department for International Development (DFID) is facilitating a massive solar energy programme, targeting Small and Medium Scale businesses across the country.

    Under the initiative, the Financial Institution with the DFID would deploy off-grid and embedded solar systems in commercial and industrial sectors in Nigeria.

    Providing insight into the project, country manager IFC, Eme Essien Lore, at a media briefing in Lagos, […]

  • Drug resistance in people and animals may push millions into poverty – World Bank

    Drug resistance in people and animals may push millions into poverty – World Bank

    It was gathered that the World Bank has warned that if the drug-resistant infections in people and animals are allowed to spread unchecked, some 28 million people would fall into poverty by 2050.

    The Bank said in a report released on Tuesday ahead of a high-level meeting on the issue at the UN in New York that a century of progress in health would be reversed.

    It said that by 2050, annual global GDP would fall by at least 1.1 per cent, […]

  • World Bank earmarks $500m for basic education in Nigeria

    World Bank earmarks $500m for basic education in Nigeria

    The World Bank has set aside 500 million dollars as grant to fund basic education in five states for five years, Mrs Helen Okoro, the Information Officer, Universal Basic Education Commission (UBEC), has said.

    Okoro, in a statement in Abuja on Thursday, credited Dr Olatunde Adekola, Head, World Bank International Reconstruction and Development team, as giving the information.

    She said Adekola explained that the fund was for the Global Partnership for Education (GPE), established to improve access to quality education at the […]