The Economic Community of West African States has requested funding support from the World Bank for the construction of the 1,080km six-lane Abidjan-Lagos Highway. It stated that the $22.72 million mobilised by the European Union and African Development Bank was inadequate for the project which was expected to gulp $2bn. Making the request in Abuja […]
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The World Bank yesterday revised its global economic growth for 2019 downward due to ongoing trade tensions between some economies as well as its resultant effect on both advanced and emerging economies. The Bank in a statement said international trade and manufacturing activity have softened and trade tensions remained elevated, contributing to downside risks to […]
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The World Bank has indicated its intention to spend $3 Million on three government technical colleges in Ekiti State under the Bank’s Innovation and Development Effectiveness for Acquisition of Skills, IDEAS, programme. This was disclosed during a meeting of the World Bank Team with Governor Kayode Fayemi of Ekiti State, yesterday, in Ado-Ekiti. The World […]
Read More The World Bank Group yesterday in Washington DC announced a major new set of climate targets for 2021-2025, doubling its current five-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognising mounting climate change impacts on lives and livelihoods, […]
Read More The World Bank has projected a slow growth in Nigeria’s economy in 2018 in its latest report. According to the report on Nigeria’s bi-annual Economic Update on Wednesday, the country’s Gross Domestic Product growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services. In the report, […]
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The Lagos State University has been selected as a Centre of Excellence for Innovative and Transformative STEM Education by the World Bank, among other 16 universities across Nigeria. The ACE award in Applied Informatics and Communication was also given to Covenant University, Ota, Ogun State. Fifteen other Nigerian universities also bagged the ACE award in […]
Read More Further upward acceleration of global inflation from record low levels may impair efforts in emerging and developing economies such as Nigeria, to sustain the low inflation environment achieved over the past several decades, the World Bank has said. The Bank disclosed this in its ground-breaking examination of inflation in the emerging and developing world released […]
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At the 2018 annual meetings of the International Monetary Fund and World Bank held in Bali, Indonesia, the Nigerian delegation led by the Minister of Finance, Mrs. Zainab Ahmed, had talks with development partners, including the Bretton Woods institutions and investors. Among the delegation were the Minister of Budget and National Planning, Senator Udoma Udo […]
Read More The World Bank and the European Union Investment Bank have scored Edo State as one of two best states in Nigeria, where projects are being executed in line with global best standards. The state’s new ranking is based on her transparency and other reforms adopted by the Governor Godwin Obaseki-led administration in executing projects. The […]
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In a bid to ensure that the planned review of port concession agreement yield the desired result, the Nigerian Ports Authority (NPA) is seriously working with the World Bank, terminal operators and other stakeholders, Managing Director of NPA, Hadiza Bala-Usman has said.. Bala-Usman stated this at the International Associations of Ports and Harbour (IAPH) conference […]
Read More ABUJA, Aug 8 (Reuters) – Nigeria has approved a $150 million loan from the World Bank to help eradicate polio and scale up immunisation, Finance Minister Kemi Adeosun said on Wednesday. After a global effort to wipe out polio, there were just 22 cases on earth last year, down from 350,000 30 years ago, according […]
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The World Bank has stated that it has exceeded its financing target in new energy for Nigeria and other developing countries. In its latest report, the bank stated that 32.1 per cent of its financing had climate co-benefits, already exceeding the target set in 2015 while 28 per cent of lending volume would be climate-related […]
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