World Bank advances over $200 million to Kano, Ekiti, others for apprenticeship development 

January 31, 2023 Adeola Akinbobola Abuja 0

The World Bank said it has advanced over $200 million as support to Kano (Northwest), Gombe in North East, Aba in Southeast and Ekiti in Southwest as informal apprenticeship for development of technical education. World Bank official from Nigeria region office Mr. Tude Adekola who revealed this during the unveiling of framework for National Apprenticeship and Traineeship System (NATS) ‘skill Read More

World Bank downgrades Nigeria’s growth to 3.1%

December 16, 2022 Blessing Anaro Lagos 0

The World Bank has cut Nigeria’s 2022 growth forecast to 3.1 per cent from a previous forecast of 3.8 per cent, it said during a briefing in Abuja on Thursday. It said that the revision was due to slow economic growth in the third quarter from a year earlier, dragged down by the oil sector and a weak performance in Read More

Revealed! How much Nigerians abroad remitted in 2022 – World Bank

December 2, 2022 Blueprint 0

The World Bank has said that Nigerians abroad sent home $20.9 billion to families and friends. This was contained in its latest Migration and Development Brief published Wednesday on its website. The brief stated that remittance flows to Nigeria increased by 7.5% when compared to the previous year. That puts its inflows far ahead of other countries in Sub-Saharan Africa Read More

World Bank and citizen engagement

November 24, 2022 Blueprint 0

“Too often, services fail poor people – in access, in quantity, in quality. But the fact that there are strong examples where services do work means governments and citizens can do better. How? By putting poor people at the center of service provision: by enabling them to monitor and discipline service providers, by amplifying their voice in policy making, and Read More

Poverty: NBS’ 133m figure exceeds World Bank’s projection for 2022 – ActionAid

November 23, 2022 Adeola Akinbobola Abuja 0

ActionAid Nigeria (AAN) has observed that that the current number of 133million poor Nigerians by National Bureau of Statistics (NBS) far exceeds the World Bank’s projection for the country in 2022. The Country Director, Ene Obi in a press release issued in Abuja said the latest findings differ from the World Bank’s, which stated that poverty reduction stayed the same Read More

World Bank’s new poverty line

November 21, 2022 Blueprint 0

Reports that the World Bank has raised the poverty line to $2.15 (N936.32) from $1.90 (N827.45), effective September 2022 should, everything being equal, be a cause to cheer, especially by the poor and vulnerable across the word, particularly Nigeria, where hyperinflation has eroded the purchasing power of the citizenry and worsened the poverty situation. The new poverty benchmark by the Read More

World Bank to reduce greenhouse gas emissions

November 15, 2022 Helen Oji Abuja 0

The World Bank has announced a new multi-partner fund that will pool funding from the global community including donor countries, the private sector and foundations for scalable pathways to greenhouse gas emission reduction. The Scaling Climate Action by Lowering Emissions (SCALE) partnership will provide grants for verifiable emissions reductions and expand the funding sources for global public goods. “Climate finance Read More

World Bank group presents new fund for lowering emissions

November 10, 2022 David Agba Abuja 0

World Bank has announced a new multi-partner fund that will pool funding from the global community — including donor countries, the private sector and foundations — for scalable pathways to greenhouse gas emission reduction. The Scaling Climate Action by Lowering Emissions (SCALE) partnership will provide grants for verifiable emissions reductions and expand the funding sources for global public goods. “Climate Read More

World Bank’s move against poverty

November 2, 2022 Blueprint 0

Reports that the World Bank has raised the poverty line to $2.15 (N936.32) from $1.90 (N827.45), starting from September 2022 should, everything being equal, be a cause to cheer, especially by the poor and vulnerable across the word, particularly Nigeria, where hyperinflation has eroded the purchasing power of the citizenry and worsened the poverty situation. The new poverty benchmark by Read More

Lagos to partner World Bank on affordable housing

October 11, 2022 Blueprint 0

Lagos government has disclosed that it has sought collaboration with World Bank for rapid delivery of technology-driven and affordable mass housing schemes in the state. This was contained in a statement issued by the spokesperson of the state’s Ministry of Housing, Mrs Adeola Salako, over the weekend in Lagos. Salako quoted the Commissioner for Housing, Mr. Moruf Akinderu-Fatai, as seeking Read More

As World Bank raises poverty line…

September 8, 2022 Blueprint 0

Reports that the World Bank has raised the poverty line to $2.15 (N936.32) from $1.90 (N827.45), starting from September 2022 should, everything being equal, be a cause to cheer, especially by the poor and vulnerable across the word, particularly Nigeria, where hyperinflation has eroded the purchasing power of the citizenry and worsened the poverty situation. The new poverty benchmark by Read More

Nigeria’s worrisome debt profile

September 7, 2022 Blueprint 0

Recent media report that the total debt owed to the World Bank Group by Nigeria rose by $660 million in the first six months of 2022, is not only worrisome but it is also an ominous sign of a comatose economy on the fringe of recession. Besides, a heavily indebted nation risks her economic autonomy, sovereignty and territorial integrity as Read More

World Bank and Nigeria’s worsening poverty

August 8, 2022 Jerry Uwah 0

Last week the World Bank shocked the world with its release on state-by-state poverty index on Nigeria. The index is a sad reminder of the abject poverty in the midst of Nigeria’s enormous wealth. A summary of the index puts Nigeria’s average poverty rate at 65.2 per cent. That is a precipitous decline from the 40 per cent touted around Read More

Cheap phones, internet vital to digital finance – World Bank

The World Bank President, David Malpass, has disclosed that cheap and functional mobile phones and affordable internet access are necessary for expanding digital finance in developing economies. According to him, COVID-19 is influencing a digital revolution that has catalysed increases in access to and use of financial services in developing economies, transforming how people make and receive payments, borrow, and Read More

COVID-19 drives global digital payment surge – World Bank

June 29, 2022 Benjamin Umuteme 0

The COVID-19 pandemic has spurred financial inclusion–driving a large increase in digital payments amid the global expansion of formal financial services, the World Bank has said. This expansion, the global lender stated, created new economic opportunities, narrowing the gender gap in account ownership, and building resilience at the household level to better manage financial shocks. According to the Bank, the Read More

Why World Bank faults CBN policies

June 29, 2022 Adefolarin A. Olamilekan 0

We are in an era of economic uncertainties that characterised the post COVID-19 pandemic. The global economy currently is in a reverse gear courtesy inflation, stock depreciation, and rising public and private debts both in developed and developing countries. The Russia-Ukraine war that depicts persistent power in the use of strategic military weapons by the warring parties, unfortunately, is causing Read More

How to spend N5trn: World Bank formula

June 20, 2022 Jerry Uwah 0

The World Bank has reviewed its projections on Nigeria’s development and replaced them with a mixed grill that sounds even gloomier. The bank raised Nigeria’s gross domestic product (GDP) growth projection for 2022 from 2.6 to 3.4 per cent. It however lamented that surging inflation and Ukraine war-induced famine will push 7 million more Nigerians into abject poverty during the Read More

More Nigerians’ll fall into extreme poverty, World Bank predicts

June 13, 2022 Blueprint 0

The World Bank has predicted that more people in Nigeria and its Sub-Saharan neighbours are expected to fall into extreme poverty. According to a report obtained via a World Bank newsletter on Friday, titled, “Global Economic Prospects,” Russia’s invasion of Ukraine and its effect on the commodity market, supply chains, inflation, and financial conditions have intensified the slowdown in economic Read More