Tag "World Bank"

    COVID-19: World Bank approves FG’s $82m request for NCDC

COVID-19: World Bank approves FG’s $82m request for NCDC

The World Bank Group has approved the release of $82 million to the Nigerian Centre for Disease Control (NCDC) as requested by the federal government. The approved funds are to support the fight against COVID-19 in Nigeria as it would be through the World Bank's regional disease surveillance system enhancement(REDISSE) project. REDISSE was created by the World Bank to strengthen national and [...]

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    Engage 774k Nigerians, share rice seized by customs… FG’s COVID-19 stimulus package

Engage 774k Nigerians, share rice seized by customs… FG’s COVID-19 stimulus package

Zainab Ahmed, the minister of finance, budget and national planning, announced the fiscal stimulus measures to be carried out by the federal government in response to COVID-19 pandemic. Briefing journalists in Abuja on Monday, Ahmed said the measures would be in addition to the interventions already announced by the Central Bank of Nigeria. Here are nine measures listed by the finance minister: ENGAGE 774,000 NIGERIANS According [...]

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    World Bank approves $1.9bn emergency support package for 25 countries

World Bank approves $1.9bn emergency support package for 25 countries

The World Bank says it has received approval for emergency support operations for developing countries. In a statement on Thursday, the Bretton Wood institution said the approval given by its board of executive directors is for the first group of projects to help 25 countries respond to "immediate health consequences of the pandemic and bolster economic recovery". The first group of projects [...]

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    World Bank approves $2.185bn to tackle extreme poverty, corruption in Nigeria

World Bank approves $2.185bn to tackle extreme poverty, corruption in Nigeria

The World Bank has approved $2.185 billion to support six projects that it says would support the country's development. According to a statement released on Tuesday, the bank said the projects will include improving immunization, enabling a stronger business environment for the private sector, expanding the digital economy to promote job creation, and increasing public and private sector capacity on governance [...]

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    World Bank: 87% of poor Nigerians are in the north

World Bank: 87% of poor Nigerians are in the north

The World Bank has estimated that 87% of all the poor people in Nigeria are in the north. In a report titled, 'Advancing social protection in a dynamic Nigeria', the Bretton Wood institution said the south-south zone recorded the most significant drop in poverty between 2011 and 2016. "Poverty in the northern regions of the country has been increasing especially in the [...]

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    EXCLUSIVE: Accugas moves against Nigeria, issues notice of default over Calabar GenCo

EXCLUSIVE: Accugas moves against Nigeria, issues notice of default over Calabar GenCo

President Muhammadu Buhari's bid to raise foreign loans for infrastructural projects is already in jeopardy as the gas supply agreement (GSA) between the Calabar Generation Company Limited and and Accugas Ltd has gone awry over about $66 million unpaid invoices, TheCable can report. Accugas has now issued a notice of non-payment in respect of gas supply to Calabar GenCo, owned by Niger [...]

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    El-Rufai: How I got $350m World Bank loan — with pictures of rundown schools

El-Rufai: How I got $350m World Bank loan — with pictures of rundown schools

Nasir el-Rufai, governor of Kaduna, has explained how he secured a $350 million loan from the World Bank to fix education in his state -- with pictures of rundown schools. El-Rufai was speaking on Monday at a send forth for Rachid Ben Massaoud, outgoing country director of the World Bank. The event was organised by the Nigeria Governors’ Forum at the Transcorp [...]

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    IMF/World Bank forum attendees asked to monitor symptoms as participant contracts chickenpox

IMF/World Bank forum attendees asked to monitor symptoms as participant contracts chickenpox

A participant at the International Monetary Fund/World Bank annual meetings held in Washington DC, US, has been diagnosed of chickenpox. In a statement on Friday, Jianhai Lin, IMF secretary, said the development was confirmed in a letter from the Washington DC department of health. However, the participant's name was not mentioned. Nigerian officials, led by Zainab Ahmed, minister of finance, were among the [...]

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    Nigeria jumps 15 places on World Bank’s Ease of Doing Business ranking

Nigeria jumps 15 places on World Bank’s Ease of Doing Business ranking

Nigeria is now ranked 131 globally on the World Bank's Ease of Doing Business ranking, moving up by 15 places from its 2019 spot. The Bretton Wood institution released the report in the early hours of Thursday. A comparison of business regulation in 190 countries across the world formed the basis of the ranking. "Nigeria conducted reforms impacting six indicators, including making the [...]

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    Nigeria planning to get first tranche of $3bn World Bank loan in April

Nigeria planning to get first tranche of $3bn World Bank loan in April

Talks of a loan for the expansion of the transmission and distribution facilities of the power sector between the Nigerian government and the World Bank have reached final stages as both parties have settled on a loan size of $3 billion. Zainab Ahmed, the minister of finance, made this known on Sunday while addressing journalists, TheCable inclusive, on the activities of [...]

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    Zainab Ahmed: Why we are seeking $3bn power loan from World Bank

Zainab Ahmed: Why we are seeking $3bn power loan from World Bank

Zainab Ahmed, the minister of finance, says the $3 billion power loan being sought from the World Bank will be used to develop the electricity transmission and distribution network. Speaking to journalists on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group, Ahmed said the federal government would negotiate so that the loan could [...]

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    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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March 25, 2019USDGBPEUR
INTERBANK306397354
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KANO375477498
PH380478498
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