Posts Tagged ‘World Bank’

Nigerian Government Discredits World Bank Report On Poor Power Supply, Says ‘It’s Inaccurate’

The accuracy of a World Bank report which indicated that 78 percent of power consumers in Nigeria get less than 12 hours of daily supply, has been questioned by the Nigerian Government. The World Bank through its Power Sector Recovery Program, PSRP, fact sheet had disclosed that the country has the highest number of people lacking […]

World Bank Approves Nigeria’s Loan Request Of $1.5bn

By Seun Adeuyi The World Bank has approved Nigeria’s loan request of a $1.5 billion loan, the Bretton Wood institution said on Tuesday. In a statement, the bank said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. It said said the facility was prepared jointly with the […]

COVID-19 To Push More Than 32m Into Extreme Poverty, Says UN …As World Bank Says 150m Will Be Extremely Poor By The End Of 2021

By Seun Adeuyi The United Nations Conference on Trade and Development (UNCTAD) has said that the number of people living in extreme poverty will increase by more than 32 million in 2020 due to COVID-19. The report comes a few days after the World Bank had predicted that the pandemic could push as many as […]

World Bank Mourns Ex-President, Jim Wolfensohn

By Onwuka Gerald The World Bank Group President, Mr. David Malpass, on Thursday announced the death of former World Bank Group President, Jim Wolfensohn; identifying it as a great loss. Jim Wolfensohn passed on Wednesday at the age of 86. The President made the disclosure in a statement in Washington D.C. According to him, “World […]

World Bank Completes Construction Of 330km Road In Enugu

By Adejumo Enock The National Coordinator of Rural Access and Mobility Project RAMP, Engr. Ubandoma Ularamu said the World Bank has completed the construction of 330km out of 385.419km rural Road in Enugu State. He disclosed this at Nike Lake Resort Hotel in Enugu State during a stakeholders workshop for the dissemination and adoption of […]

Loan: FG To Borrow $750m From World Bank On Behalf Of States

By Adejumo Enock The federal government of Nigerian is planning to borrow $750 million to stimulate local economies and support vulnerable households consumption in Nigeria on behalf of state  Mrs. Zainab Ahmed,The Minister of Finance, Budget and National Planning disclosed this at the inauguration ceremony of the Federal Steering Committees of the Nigeria COVID-19 Action […]