The World Bank has initiated a scheme to support small and medium scale enterprises (SMEs) with grants up to ₦10 billion across the nation. Tagged: ‘Bottom up’, the project is conceived to provide grants to SME owners with marketable ideas through model microfinance banking. Development Bank of Nigeria (DBN) will oversee transfer of the grant […]
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The Federal Ministry of Power and Housing, headed by Mr. Babatunde Fashola, is now being fingered by the Senate in a $350 million fraud. According to the upper chamber, Fashola’s Ministry got part of $1 billion from an Euro bond issued by the Federal Government in 2013, which he said, he intended to spend on […]
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The World Bank’s Ease of Doing Business Report for 2018 has placed Nigeria in the 145th position. This is 24 positions better than the 169th position the nation was ranked in the 2017 report. According the report released by the World Bank on Tuesday, Nigeria is among the 10 top countries that improved on reforms. […]
Read More The World Bank says the big drop in export commodity prices that led to significant economic shocks last year in commodity exporting countries including Nigeria may not occur in 2018. According to the World Bank, countries trading in export commodities next year should look for small upticks in oil and crops prices. But overall, raw-material […]
Read More The World Bank says it is not in disagreement with the Federal Government on the need to borrow to finance infrastructure. In a letter to the Minister of Finance, Mrs. Kemi Adeosun, in Abuja on Wednesday, the World Bank Country Director for Nigeria, Mr. Rachid Benmessaoud, said the bank had commended the Federal Government for […]
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The Nigeria Government has secured $150 million (about ₦43.2 billion) loan from the World Bank for the Mindiver Project, the Minister for Mines and Steel Development, Kayode Fayemi, has said Fayemi who stated this at the second Annual Nigeria Mining Week in Abuja yesterday, said the fund will go to strategic interventions in the mining […]
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Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has said the Federal Government would soon start collecting luxury taxes. Addressing newsmen at the annual meeting of the World Bank and International Monetary Fund, IMF, in Washington DC on Sunday, Mrs Adeosun said people with higher income must bear a greater part of the tax burden. “The […]
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The World Health Organisation, Director, Regional Office for Africa, Dr. Matshidiso Moeti, has advised the Federal Ministry of Health to mobilise the World Bank, African Development Bank and development agencies to the North-East to facilitate the rebuilding of region. Moeti said this during a press conference in Abuja on Saturday. She said the rescue operation in […]
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The World Bank President Jim Yong Kim, Thursday, called on the governments of Nigeria and other developing countries to urgently make critical investments that would shield their economies from sudden shocks in the global economy in the years ahead, warning that the GDP growth that saw the country out of recession was too lean for […]
Read More For the second successive year, Nigeria has won the World Bank’s “Ideas for Action” initiative, a youth competition on financing for development. It is a programme which is yearly organised by the World Bank Group, in collaboration with the Zicklin Centre for Business Ethics Research. The Bank’s Senior Vice President, Mr Mahmoud Mohieldin, announced the […]
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A World Bank Official, Dr Khama Rogo, has described Africa as the most disease prone continent with the largest burden of diseases in the world. He made this observation on Monday when he led officials of World Bank and Pharm Access on a courtesy call on the Kwara State Governor, Abdulfatah Ahmed at Government House, […]
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The World Bank has projected that up to $22 billion will flow into Nigeria in 2017 through Diaspora remittances, noting that global remittance flow is set to recover this year after two consecutive years of decline. This was contained in the latest edition of the World Bank’s Migration and Development Brief, released, yesterday. According to […]
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