Tags : World bank

$114.28m Credit: SERAP Cautions World Bank Over Disbursement To Nigeria

Advocacy group, Socio-Economic Rights and Accountability Project,SERAP, has cautioned  the World Bank over  the disbursement of $114.28m to Nigeria for the purpose of tackling economic challenges of the COVID-19 pandemic. SERAP in an open letter on Sunday by its Deputy Director, Kolawole Oludare, to the President of the World Bank, Mr David Malpass, charged the […]

World Bank Okays $750m For Nigeria’s Power Sector

The World Bank has approved a $750 million International Development Association credit for Nigeria’s Power Sector Recovery Operation. The World Bank revealed this in a statement issued on Wednesday. The statement quoted World Bank Country Director for Nigeria, Shubham Chaudhuri, as saying that about 47 per cent of Nigerians have no access to grid electricity […]

COVID-19: “School Closures Affect Nearly 1.3 Billion Children, Youth

The United Nations Educational, Scientific and Cultural Organization (UNESCO) has reported that School closures, as a result of the Coronavirus pandemic, have affected nearly 1.3 billion students. A new set of guidelines issued by the United Nations Agency, in collaboration with the World Bank, United Nations International Children’s Emergency Fund (UNICEF) and World Food Programme […]

COVID-19 Pandemic: Cross River Begins Payment of ₦30,000 To Youths

Cross River State Government has began the monthly payment of 30,000 naira stipends to beneficiaries of the Youth Employment and Social Support Operation, YESSO, as a way to cushion effect of COVID-19 lockdown on poor residents. The disbursement is in collaboration with the World Bank. The State Commissioner for International Development Cooperation, Mr Inyang Asibong, […]

Coronavirus: IMF Approves Debt Relief For 25 Countries

The International Monetary Fund has announced immediate debt relief for 25 poor Countries to help them free up funds to fight the Coronavirus pandemic. The IMF Managing Director , Kristalina Georgieva, said in a statement on Monday, April 13, 2020, that this will provide grants to poorest and most vulnerable members to cover their IMF […]

COVID-19: FG Approves $150 Million Stabilisation Fund

The Federal Government has announced the approval of $150million stabilisation fund to meet shortfalls in monthly allocations. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, announced this on Monday, April 6, 2020, in Abuja during a media briefing on the measures to tackle the impact of the Coronavirus pandemic on the economy. […]

87% Of Nigeria’s Poverty Rate Lies In Northern Region –

The World Bank in a recent report has disclosed that northern Nigeria holds about 87 per cent of all the poor in the country as of 2016. The report titled ‘Advancing social protection in a dynamic Nigeria’, was released on January 28, 2020. The report described as a ‘detailed analysis of the social protection sector’ […]

World Bank Predicts 2.1 Per Cent Growth For Nigeria’s Economy

The World Bank has predicted that Nigeria’s economy will  grow by 2.1 per cent for three consecutive years covering 2020, 2021 and 2023, The predictions are contained in World Bank’s January 2020 Global Economic Prospects released on Wednesday. The report, however, described the country’s macroeconomic framework as not “conducive to confidence.” According to the Bretton […]