NIGERIA – the minister of finance and coordinating minister of the economy, Wale Edun, says the federal executive council (FEC) has approved a $1.58 billion loan request. Edun said the loan request is split into two; $1.5 billion from the World Bank and $80 million from the African Development Bank (AfDB). The minister revealed the approval after […]
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The World Bank says Nigeria has enormous growth potential but has stagnated in the past decade. In its latest report titled, ‘Nigeria country economic memorandum: charting a new course’, published on its website, the World Bank said Nigeria’s potential and growth has been stagnated over the past decade. It noted that the country needs create […]
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The World Bank has predicted that global economy will grow by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. The economic forecast was revealed in a statement issued in Washington D.C. on Tuesday at the presentation of the January 2021 Global Economic Prospects. It added that the […]
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The newly elected president of the World Bank, David Malpass, has projected that nine in every 10 extremely poor people across the world will be Africans come 2030. Speaking on Thursday at the World Bank press conference at the ongoing spring meetings of the International Monetary Fund and World Bank Group, Malpass said this development […]
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Speaking at a high-level dialogue in Washington D.C. on the sidelines of the World Bank-IMF Spring meetings, the President of the African Development Bank (http://www.AfDB.org), Akinwumi Adesina, said “It is time to turn around the declining investments of the U.S. in Africa. As the world’s private sector leader, the United States has a unique role to play in increasing investments […]
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The World Bank has given a pass mark to Fadama III programme in Nigeria for the success recorded in the implementation of its programmes ahead of its Dec. 31, 2019 closing date. The World Bank Fadama III AF Project Task Team Leader, Dr Adetunji Oredipe on Wednesday told News Agency of Nigeria (NAN) in Abuja […]
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The World Bank has said Nigeria will take over India as the world capital for deaths of children under the age of five by 2021. In its bi-annual economic update on Nigeria, the Bretton Woods institution, said Nigeria records the highest number of child malaria deaths anywhere in the world. The bank added that Nigeria […]
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The World Bank on Friday said that it had granted $300 million to Tanzania to support its education sector, a statement from the country’s Directorate of Presidential Communication said. Hafez Ghanem, Vice President of the World Bank for Africa, announced the new grant during talks with Tanzanian President, John Magufuli at State House in the […]
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Top lawyer and rights activist, Femi Falana, has commented on the defections going on in Nigeria. He said the defection of some lawmakers from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP) is illegal. Fifty-three members of the national assembly recently dumped the ruling party and moved to the opposition, with most […]
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The World Bank on Friday expressed its willingness to provide technical support to Nigeria in critical areas to facilitate the country’s economic growth and development. The bank’s Vice President for African Region, Mr Hafez Ghanem said this in a statement issued by Mr James Akpandem, Special Adviser to the Minister of Budget and National Planning […]
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