World Bank blacklists four Nigerian firms for procurement fraud

September 12, 2021 Blessing Anaro 0

The World Bank has suspended at least four Nigerian firms for engaging in procurement frauds. One of the firms is Sargittarius Nigeria Limited, located at 22B Adebayo Doherty Road, Lekki Phase 1 Lagos. The second delisted company is Sargittarius Henan Water Conservancy Engineering Limited. Both firms share the same address and were sanctioned on the same date – 30 August, Read More

Oyo state and World Bank assisted flooding controversy

August 26, 2021 Blueprint 0

All is not well with the World Bank-funded flooding project in Oyo state as there were rumours of the funding being withdrawned because of tardy preparation by the state government. BAYO AGBOOLA reports. The history of flooding in Ibadan, the Oyo state capital could be traced back to August 1980 in the days of the old Oyo during the tenure Read More

Nigeria records $85.21bn net foreign liabilities – IMF

August 17, 2021 Blessing Anaro 0

Nigeria’s foreign liabilities stood at $187.36 billion while the country’s foreign assets amounted to $102.15 billion as of December 2020, the International Monetary Fund (IamF) has said. From 2016, Nigeria’s foreign liabilities jumped by 42.41 per cent from $131.56bn, while foreign assets rose by 13.67 per cent from $89.87 billion. Foreign assets are the investment securities owned by the Nigerian Read More

IBB survived more coups than any leader in Nigeria – Iwuanyanwu

August 16, 2021 Bode Olagoke 0

Former President General Ibrahim Babangida has been described as a leader who survived more coups than any other leader in Nigeria and one whose intellectual capacity was evident on the way he handled security matters while presiding the affairs of this nation. A business mogul and a close ally of General Babangida, Chief Emmanuel Iwuanyanwu in a statement in honour Read More

How Buhari laying solid foundation for uninterrupted power supply – APC group

July 28, 2021 Bode Olagoke 0

A think-tank group of the ruling All Progressives Congress (APC) known as APC Legacy Awareness and Campaign has revealed how President Muhammadu Buhari-led administration has introduced policies and programmes that will ensure uninterrupted power supply in the country. The group in a statement signed Wednesday in Abuja by its national youth leader Ismaeel Ahmed, former national publicity secretary Lanre Issa-Onilu Read More

Nigeria’s revenue to GDP lowest in the world – World Bank

July 28, 2021 Blessing Anaro 0

Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank has said. The Country Director for Nigeria, World Bank, Dr Shubham Chaudhuri, said this during a panel session at a virtual public sector seminar with the theme ‘Nigeria in challenging times: imperatives for a cohesive Read More

TCN, World Bank train 708 electrical engineers, linesmen

July 13, 2021 Blueprint 0

The Transmission Company of Nigeria, TCN, has commenced an intensive training program for 708 engineers in the company taken from the electrical, maintenance department, Protection, Control, and Metering department and linesmen across the 10 regions of the company, through a World Bank programme. Declaring the training open in Abuja, the Ag. Managing Director and Chief Executive Officer of TCN, Engr. Read More

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World Bank’s Covid-19 vaccine financing exceeds $4bn for 50 countries

July 1, 2021 David Agba 0

The World Bank said on Thursday that it is providing over $4 billion for the purchase and deployment of COVID-19 vaccines for 51 developing countries, half of which are in Africa. More than half of the financing comes from the International Development Association (IDA), the Bank’s fund for the world’s poorest countries, and is on grant or highly concessional terms. Read More

Power outage continues despite N1.3trn investment by FG in 3 years

June 17, 2021 Segun Odunewu 0

With over N1.3 trillion borrowed by the Federal Government to finance the operations of generation companies and gas suppliers in order to boost electricity supply in the country, Nigeria has only been able to transmit an average of 4,000 megawatts for a population of 200 million. Nigeria has Africa’s largest population and economy, but Nigerians consume 144 kwh per capita Read More

Faster growing population plunges 7m below poverty line – WB

June 16, 2021 Blessing Anaro 0

In spite of the slowing inflation rate as announced by the National Bureau of statistics (NBS), the World bank (WB) said, seven million Nigerians have slipped from the poverty line to under the pverty line. The global bank attributed the worsening situation to an economy that is growing far slower than the rate at which its population is growing.While the Read More

World Bank targets $150bn investment in Africa

May 19, 2021 Benjamin Umuteme 0

Over the next five years, the World Bank Group has revealed plans to invest and mobilize $150 billion to support Africa’s growth. However, a large portion of the fund will be through grants and long-term, zero-interest-rate loans from the International Development Association (IDA) of which Nigeria is eligible. This was disclosed by World Bank Group’s president, David Malpass at the Read More

Groups advise UN on border security

May 16, 2021 Benjamin Samson 0

WAANSA Nigeria and Global Peace Advocacy and Empowerment Initiative have advised United Nations (UN) to redouble its efforts towards securing international borders and poverty eradication.They stated this in a statement signed by director-general, Global Peace Advocacy and Empowerment Initiative Badamasi Sadiq, Assistant Head, Public and Social Awareness, Nelson Chijioke and Field Programme Officer WAANSA Nigeria/Global Peace Advocacy and Empowerment Initiative Read More

Edo rolls out N3bn intervention grant to support businesses

May 6, 2021 Patrick Ahanor 0

The Edo State government has unfolded plans for the distribution of N3billion grant under the World Bank intervention programme. It said the money is part of the $750million loan intervention program of the World Bank for the states in Nigeria, and would run from 2021 to 2022. The permanent secretary, Ministry of Wealth Creation, Mr. Joel Edionwe, who stated this Read More

Nigeria has 32% stunted kids, ranks second globally – el-Rufa’i

April 30, 2021 AbdulRaheem Aodu 0

Nigeria has the second highest burden of stunted children under-five in the world, with a national prevalence rate of 32%, the wife of the Kaduna state governor, Hajiya Aisha Ummi Garba el-Rufai, has said. Aisha, the chairperson of the Kaduna Emergency Nutrition Action Plan (KADENAP), added that estimated two million Nigerian children suffer from severe acute malnutrition (SAM). Addressing a Read More

Nigeria businesses lose $29bn annually to poor electricity

April 27, 2021 Blessing Anaro 0

Epileptic power supply costs businesses in Nigeria about $29 billion yearly, the World Bank has said. The bank says an average Nigerian consumes four times less energy than their counterparts in a typical lower middle-income country.The bank’s conclusion was drawn from its Power Sector Recovery Programme factsheet presented during the World Bank’s virtual meeting with journalists last week. The bank’s Read More

The 2.1m poorest Kaduna citizens

April 20, 2021 Blueprint 0

The Kaduna State Social Register and Rapid Response Register (RRR) released recently, indicated that rural dwellers, subsistence farmers, and illiterates top 2,051,972 poorest and most vulnerable Kaduna state citizens from 524,424 families captured in the State Social Register (SSR) for the Poor and Vulnerable Households (PVHHs). This is, indeed, a sad narrative of the nation’s state of affairs. The undesirable Read More

Norway’s $1bn aid to North-east

April 19, 2021 Blueprint 0

Recent report to the effect that the immediate past Ambassador of Norway to Nigeria, Jens-Petter Kjemprud, had listed the organisation of two donor conferences that raised $1bn for the development of the North-east as one of his achievements in office, is quite remarkable. The gesture is an ample demonstration of good friendliness and mutual diplomatic relationship between the two countries. Read More

China lifts 770 million rural people out of poverty – Official

April 14, 2021 Editor 0

More than 770 million of China’s rural population living below the current poverty line have been raised from poverty, accounting for more than 70 percent of the global total over the same period according to the World Bank’s international poverty standard, says a white paper recently released by the State Council Information Office of China. Through China’s poverty eradication practices, Read More

Alkali’s answers to North -East humanitarian question

April 5, 2021 Raphael Odoh 0

Apparently, Boko Haram insurgents and the Islamic State West Africa Province (ISWAP) have gravely injured and shackled the North East Development Commission (NEDC), a baby created out of necessity to cater for humanitarian crisis incited by Boko Haram. The NEDC’s Managing Director and Chief Executive Officer, (MD-CEO), Alhaji Mohammed Goni Alkali experiences grippingly retells the story of managing the near Read More

Nigeria as the global ICT investment hub

April 5, 2021 Musa Ilallah 0

Nigeria took a turn for an exciting and refreshing phase in November 2019 when President Muhammadu Buhari launched the 10 years National Digital Economy Policy and Strategy, NDEPS 2020-2030. The policy’s vision was aimed at transforming Nigeria into a leading digital economy, creating sustainable wealth and opportunities for all. This policy also saw the birth of the Federal Ministry of Read More

Breaking: DBN disburses N191.7bn as loans to SMEs in 2020

April 1, 2021 Benjamin Umuteme 0

A total of N191.7 billion was disbursed as loans by the Development Bank of Nigeria Plc to Small and Medium Enterprises (SMEs). In its 2020 financial report released Thursday, the amount represents a 89% rise from N101.5 billion disbursed by the Bank in 2019.  This growth is in line with its core mandate of facilitating sustainable socio-economic development by improving Read More

How Africa can benefit from Okonjo-Iweala led WTO

March 28, 2021 Blueprint 0

The director-general of the World Trade Organisation (WTO) Dr Ngozi Okonjo-Iweala, said the organisation would work to deliver technical assistance and training for African countries to overcome their trade challenges. Okonjo-Iweala gave the assurance at a meeting with minister of industry, trade and investment Adeniyi Adebayo and minister of state, Mariam Katagum as part of her five-day working visit to Read More

Tambuwal bags 2 AU awards

March 19, 2021 Editor 0

The African Union Economic and Social Council (ECOSOC) of the African Union (AU) on Thursday conferred on Governor Aminu Waziri Tambuwal of Sokoto two awards in recognition of his sterling leadership qualities, futuristic perspectives and championing of women/girls rights. This was disclosed by governor’s special adviser on media and publicity Muhammad Bello on Thursday via a press statement. The statement Read More