No fewer than 6,062 farmers in Lagos State have received agricultural inputs and production assets from the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) programme, a World Bank supported project. Mr Jonathan Obayemi, State Project Coordinator, Lagos N-CARES, stated this at the distribution exercise in Alimosho Local Government...
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High interest rates and the Russian war in Ukraine continue to significantly slow global economic growth, according to a new report from the World Bank. Following growth of 3.1 per cent last year, the global economy would slow to 2.1 per cent in 2023, the World Bank said on...
The Minister of State for Budget and National Planning, Prince Clem Agba says that the World Bank has extended the federal government’s COVID-19 Action Recovery and Economic Stimulus (NG CARES) Programme by 12 months. Agba, represented by Rev. Aso Vakporaye, the Chairman, Federal CARES Technical Committee disclosed this at...
By EMMANUEL KUJE, Abuja – The Human and Environmental Development Agenda (HEDA Resource Center) has strongly criticized the World Bank Country office in Nigeria, for its engagement with practices that is considered illegal under Nigeria’s legal regime, relating to borrowing and indebtedness. The Bank in its engagement with some Civil...
By JOY ADARA, Abuja – Socio-Economic Rights and Accountability Project (SERAP), has urged the World Bank President, Mr David Malpass, to use his “good offices to suspend any disbursement of the $800m loan to the Federal Government and to request the incoming administration to provide satisfactory explanations for the...
Prof. Foluso Okunmadewa, the World Bank Task Team Leader for Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES), says the programme is on the right track in supporting the poor and vulnerable groups in the country. Okunmadewa stated this on Monday in Abuja, at a Ministerial Town Hall Meeting...
As competition for skilled workers continues to rise globally, while populations in rich and middle-income countries age, the World Bank says migration can be a powerful force for prosperity and development if managed properly. This is contained in a new report from the World Bank, which also states that...
The World Bank on Friday released its 2023 Logistics Performance Index (LPI) report, urging developing economies to boost their economic growth through improvements in logistics for goods transportation. The report is a measure of countries’ ability to move goods across borders with speed and reliability. This is contained in...
The Global Sovereign Debt Roundtable (GSDR), on Wednesday discussed debt sustainability and debt restructuring challenges and ways to address them. This is contained in a statement issued by the International Monetary Fund (IMF) Press Centre, a copy of which was obtained by the News Agency of Nigeria(NAN) in Abuja....
In recent times, the media has been awash with news about the huge debt burden that the incoming government would inherit from the President Muhammadu Buhari administration. This started after Buhari signed the 2023 budget of 21.83 trillion Naira into law in December, 2022, and said the country could...
Eight hundred and fifty million people across the world do not have proof of identity, with half of the number being people in Sub -Saharan Africa, an official of the World Bank, Mr Christian Bodewig, said on Wednesday. Bodewig is Practice Manager for Social Protection and Jobs, West and Central Africa,...
A new World Bank report says economic growth in Sub-Saharan Africa (SSA) is set to slow from 3.6 per cent in 2022 to 3.1 per cent in 2023. This is contained in a statement issued by the World Bank on the latest Africa’s Pulse, the World Bank’s April 2023...
The World Bank Group’s Board of Executive Directors announced that Ajay Banga, a U.S. national, was the only nominee for the position of the next President of the bank. This is contained in a statement issued by the World Bank in Abuja on Friday. “The World Bank Group’s Board...
A new World Bank report says the global economy’s “speed limit” is set to drop to a three-decade low by 2030. The” speed limit” is the maximum long-term rate at which the economy can grow without sparking inflation. This is contained in a statement issued by the World Bank,...
A new World Bank report says accelerating the use of digital technologies is key to creating productive jobs and boosting economic growth in Africa. This is contained in a statement issued by the World Bank, a copy of which was obtained by the News Agency of Nigeria (NAN) in...
By CALLISTUS OFFOR, Abuja – The Minister of Communications and Digital Economy of Nigeria, Professor Isa Ali Ibrahim Pantami, had meetings at Space Exploration Technologies Corporation (Space X) headquarters in Hawthorne, California, as well as a meeting at the World Bank Headquarters and another meeting with Google Corporation in...
The debate on climate change is among the most presently discussed topics on the surface of the earth. All these years, I have, going by the commentaries from the Western world believed that Africa’s non commitment to the call for global action on climate change was responsible for the...
The World Bank Group says it has designed an innovative initiative to accelerate electrification in Africa to achieve universal access by 2030. This is contained in a statement obtained from the World Bank website on Wednesday in Abuja by the News Agency of Nigeria (NAN). According to the bank,...
By JOHN ONAH, Abuja – Participants at the national conference on out-of-school children in Nigeria have called for political will, consistency in policy delivery and good leadership in tackling the Out-Of-School Children (OOSC) menace confronting the nation. The stakeholders also called for adequate and consistent funding as well as...
Mr Abebe Selassie, the Director, International Monetary Fund (IMF), African Department, says tackling food insecurity should be the first policy priority for government in Sub-Saharan Africa (SSA). Selassie said this in his opening remarks at the News Conference on the October Regional Economic Outlook for SSA at the IMF/World...