The World Bank says 26 poorest countries worldwide “are deeper in debt than at any other time since 2006,” while being increasingly vulnerable to natural disasters and other catastrophes. In its analysis, the World Bank found that these 26 nations, which have an annual per capita income of less...
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Nigeria is facing a worsening food security crisis, with over one million additional people experiencing severe food insecurity in 2024 compared to the previous year, according to a report by the World Bank. The recently released Food Security Update Report highlights that countries like Nigeria, Ethiopia and Yemen have...
The World Bank has approved a 500 million dollar loan to support the Sustainable Power and Irrigation for Nigeria (SPIN) project aimed at reducing climate-induced challenges. Mr Chakib Jenane, World Bank’s Regional Director, Sustainable Infrastructure Development for West and Central Africa, announced this during a visit to Water Resources...
By JOY ADARA, Abuja – Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to “direct the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly and thoroughly investigate the spending of $1.5 billion World Bank...
By AUSTINE TSENZUGHUL, Bauchi – Committed to improving agricultural activities to ensuring food security in Bauchi State, Agro-Climatic Resilience in Semi-Arid Landscape (ACReASAL) Projects with the support of the state government has facilitated the provision of 20 brand new tractors in view of the demands of tractors by...
The deplorable state of the nation, the hardship level, heartbreaking state of Internally Displaced Persons (IDP) camps and the Increasing Poverty Rate in Nigeria is a damning indictment of President Tinubu Renewed Hope Mandate promise to Nigerians. The further suspension of the Activities of Humanitarian affairs and all departments...
By SADIQ ABUBAKAR, Maiduguri – The management team of the Rural Electrification Agency (REA) along with members of the World Bank led by the Acting Managing Director of REA, Abba Aliyu, visited Maiduguri on an inspection tour of the ongoing construction of 12 mega watts Solar Hybrid Power...
Kogi State Governor, Ahmed Ododo on Wednesday disbursed N370 million Community Revolving Fund (CRF), to farmers to boost food production in the North-Central State The News Agency of Nigeria (NAN), reports that the CRF loan disbursement is in partnership with the World Bank under the ACReSAL project....
The World Bank Group (WBG) and the International Monetary Fund (IMF) deepen cooperation to help countries scale up action to confront the threat of climate change. This is according to a statement by the IMF, a copy obtained by the News Agency of Nigeria (NAN) in Abuja on...
The World Bank Group (WBG) and African Development Bank(AfDB) Group are partnering to provide no fewer than 300 million people in Africa with electricity access by 2030. This is contained in a statement issued by the World Bank Online Media Centre , a copy made available to the...
The World Bank has projected that growth will rebound in African economies from 2.6 per cent in 2023 to 3.4 per cent in 2024 and 3.8 per cent in 2025. This is contained in a statement issued by the World Bank on its latest Africa’s Pulse Report released...
A new World Bankworld World w wereport says the global digital landscape remains uneven and is becoming synonymous with a development divide. This is contained in a statement issued by the World Bank on its new “Digital Progress and Trends Report 2023″, a copy of which was obtained...
The Federal Government and the World Bank are targeting three billion dollars to fund additional 120,000km fibre optic cables to leap frog broadband infrastructure and connectivity in Nigeria. The Minister of Communications, Innovations and Digital Economy, Dr Bosun Tijani, disclosed this in Abuja on Tuesday at a stakeholders’...
Federal Government has unveiled plan to upscale its World Bank-partnered project, the Nigeria for Women Project (NFWP) to target more rural communities for economic empowerment. The Minister of Women Affairs, Mrs Uju Kennedy-Ohanenye, made this known during a strategic meeting with the World Bank, UNICEF and other key partners...
The Secretary to the Enugu State Government (SSG), Prof. Chidiebere Onyia, says 50 per cent of pupils in the state can neither read in English nor solve simple mathematics questions. Onyia stated this while delivering a keynote address titled, “Smart Basic Education and the Future of Africa” at...
The Nigeria Labour Congress (NLC) has condemned the advice by the World Bank to the Federal Government to increase petrol prices to N750 per litre . Mr Joe Ajaero, NLC President, said this on Friday in Abuja in a statement, titled,”World Bank’s N750 per litre for premium motor...
By EZEKIEL OBI, Abuja – The lawmaker representing Kogi Central Senatorial District, Senator Natasha Akpoti-Uduaghan, has tasked the federal government to take advantage of investment opportunities in the blue economy to turn the fortunes of the country. The lawmaker stated this Wednesday when the joint Senate/House of Reps...
By JOHN ONAH, Abuja – The Federal Capital Territory Administration (FCTA) has allocated the sum of $4.5 million to the FCT Fadama CARES programme to implement three disbursement linked Indicators (DLIs) out of a total allocation of $15 million made available to the FCTA by the World Bank...
By EZEKIEL OBI, Abuja – The Socio-Economic Rights and Accountability Project (SERAP) has called on the World Bank to suspend issuing loans to Nigeria’s 36 states over allegations of mismanaging public funds which may include loans obtained from the institution. In the letter dated 25 November 2023,...
The World Bank and the Global Fund to Fight AIDS, Tuberculosis, and Malaria (the Global Fund), have signed a Memorandum of Understanding (MoU) to strengthen health systems in countries of the Global South. This is contained in a statement issued by the World Bank Online Media Briefing Centre on...