Tuesday, October 15, 2019

Tag "World Bank"

    Follow TheCable for updates of Nigeria’s activities at IMF/World Bank annual meetings

Follow TheCable for updates of Nigeria’s activities at IMF/World Bank annual meetings

It has been a year since Nigeria was named the poverty capital of the world, six months since Nigeria's excess crude account was named the second-worst globally and three weeks after its top 20 Ease of Doing Business reformers ranking.At its 2019 annual meetings that begin on Tuesday, October 14, the International Monetary Fund (IMF) and World Bank Group, Nigeria's [...]

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    Buhari: World Bank, IMF reeling out inaccurate statistics about Nigeria

Buhari: World Bank, IMF reeling out inaccurate statistics about Nigeria

President Muhammadu Buhari says some of the statistics about Nigeria published by the World Bank, the International Monetary Fund (IMF) and other foreign bodies are not accurate. The president made this statement shortly after meeting with the presidential economic advisory council (EAC) on Wednesday.Urging the council on the need to prioritise primary data, Buhari said statistics from the foreign bodies are [...]

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    Nigeria approaches World Bank for $2.5bn loan

Nigeria approaches World Bank for $2.5bn loan

Hafez Ghanem, World Bank's vice-president for Africa, says the lender is in talks with the Nigerian government for a $2.5 billion concessionary loan.Ghanem made this known in an interview on Wednesday in Abuja.The Bretton Wood institution official said Nigeria received $2.4 billion from the bank in 2018."We’re talking about a new set of programmes of about the same amount, it [...]

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    World Bank: Nigeria’s economy living on borrowed time… food importation irresponsible

World Bank: Nigeria’s economy living on borrowed time… food importation irresponsible

Adetunji Oredipe, a senior agriculture economist with the World Bank, says Nigeria's position as one of the largest food importers in the world has put the economy in a dangerous position.Speaking on Thursday at the Agriculture Summit Africa sponsored by Sterling Bank, Oredipe said Nigeria is living on borrowed time.According to the economist, Nigeria would have been earning at least [...]

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    Arunma Oteh publicly declines man’s ‘sugar mummy’ request

Arunma Oteh publicly declines man’s ‘sugar mummy’ request

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    World Bank appoints Nigeria’s ex-minister, Muhammad Pate, as global director for health

World Bank appoints Nigeria’s ex-minister, Muhammad Pate, as global director for health

The World Bank has appointed Muhammad Ali Pate, minister of state for health under former president Goodluck Jonathan, as global director for health, nutrition, and population.Pate was also appointed as director of Global Financing Facility (GFF) of the World Bank Group, which seeks to raise "trillions of dollars" to ensure the sustainable development goals (SDGs) are achieved before 2030.Congratulating the [...]

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    DBN sets N100bn loan disbursement target for year-end

DBN sets N100bn loan disbursement target for year-end

Tony Okpanachi, the managing director of Development Bank of Nigeria (pictured), says the bank is hoping to have disbursed loans worth N100 billion by the end of 2019.Speaking at a presentation at the just-concluded spring meetings of the International Monetary Fund and the World Bank Group, the director said the bank has disbursed N31 billion so far."The last two years [...]

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    We will implement subsidy removal gradually, says Zainab Ahmed

We will implement subsidy removal gradually, says Zainab Ahmed

Zainab Ahmed, the minister of finance, says the federal government will implement fuel subsidy removal gradually.Addressing the press on the sidelines of the ongoing spring meetings of the International Monetary Fund and World Bank Group, Ahmed said fuel subsidy cannot be removed at once.In her address on Thursday, Christine Lagarde had advised Nigeria and other countries to remove fuel subsidy [...]

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    26,000 jobs, first leather policy… trade ministry lists successes of World Bank project

26,000 jobs, first leather policy… trade ministry lists successes of World Bank project

The federal ministry of industry, trade and investment says the $160 million World Bank growth and employment (GEM) project has led to the creation of over 26,000 jobs in its intervention sectors.Reacting to allegations of irregularities in the project, Bisi Daniels, communications adviser to the minister, said the programme has been a success.There had been allegations of fraud levelled against [...]

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    Jim Kim joins Bayo Ogunlesi’s GIP as vice chairman — after resignation from World Bank

Jim Kim joins Bayo Ogunlesi’s GIP as vice chairman — after resignation from World Bank

Jim Yong Kim, outgoing president of the World Bank, will join Global Infrastructure Partners (GIP), a New York-based private investment fund, as a partner and vice chairman, Reuters reports.GIP, which is led by Nigeria's Bayo Ogunlesi as managing partner, manages over $48 billion in assets for various investors across the world.The new appointment was announced just a day after Kim [...]

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    Osun to get $20m from World Bank to fix health sector

Osun to get $20m from World Bank to fix health sector

Isaac Adewole, minister of health, says Osun state government will get a $20 million World Bank fund to fix its healthcare system.The minister said this on Wednesday in Abuja while receiving Gboyega Oyetola, governor of the state, in his office.In a statement, the state said the fund is its earning from the from the World Bank's saving one million lives [...]

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    Nigeria to overtake India as world capital for under-five deaths, says World Bank

Nigeria to overtake India as world capital for under-five deaths, says World Bank

World Bank says Nigeria will take over India as the world capital for deaths of children under the age of five by 2021.In its bi-annual economic update on Nigeria seen by TheCable, the Bretton Woods institution, said Nigeria records the highest number of child malaria deaths anywhere in the world.The bank added that Nigeria has the highest number of out-of-school [...]

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    Nigeria drops on World Bank’s Ease of Doing Business ranking

Nigeria drops on World Bank’s Ease of Doing Business ranking

Nigeria has dropped a spot on the latest World Bank Ease of Doing Business ranking.The bank released the report themed 'Doing Business 2019: A Year of Record Reforms, Rising' on Wednesday.In the 2017 edition of the report, Nigeria moved 24 places from its 2016 spot of 169 to 145.In the 2018 edition, Nigeria ranked 146. Mali took Nigeria's 2017 spot.The [...]

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    Arunma Oteh to exit World Bank for Oxford University

Arunma Oteh to exit World Bank for Oxford University

Arunma Oteh, World Bank treasurer and vice president, will exit the bank by December 1 to join Oxford University.Reuters reports that Oteh, who joined the Bretton Wood institution in 2015, will be joining St Antony's College in Oxford as an academic scholar in January 2019.This is before the end of her tenure as World Bank treasurer.In a note sent to [...]

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    World Bank ranks Kaduna first in property registration, contract enforcing

World Bank ranks Kaduna first in property registration, contract enforcing

The World Bank has ranked Kaduna state number one in registering property and enforcing contracts in its latest ranking of doing business in Nigeria.The bank also ranked Kaduna State fifth in ease of doing business and 17th in dealing with construction permits.In its 'Doing Business in Nigeria' report released on Friday, the bank ranked the federal capital territory first in [...]

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    Zainab Ahmed: Nigeria’s low human capital development ranking depressing

Zainab Ahmed: Nigeria’s low human capital development ranking depressing

Zainab Ahmed, the minister of finance, says Nigeria’s spot on the Human Capital Development ranking released by the World Bank is depressing.The newly-appointed minister expressed her views while speaking with journalists on Sunday at a press conference to mark the end of the 2018 annual meetings of the International Monetary Fund (IMF) and World Bank Group.The World Bank had ranked [...]

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Exchange Rates

October 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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