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Politics Edo State Govt Approves N500M for N2b World Bank Grant
The Commissioner for Communications and Orientation of Edo State, Hon. Paul Ohonbamu informed the public of the State’s push to access the World Bank’s N2B grant to Edo State’s work on developing its infrastructural projects, N500 Million has been approved by the State as counterpart funding. He...- sandchi
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Metro Two Civil Servants In Abuja Jailed For 105 Years Over World Bank Fraud
An FCT High Court sitting in Jabi on Monday sentenced two civil servants, Mohammed Audu and Yusuf Ayodeji, to 105 years imprisonment, for fraudulent activities while handling a World Bank project. The convicts who were Procurement Officers in the Office of the Accountant-General of the...- mrsam
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Politics Atiku Reacts To Buhari’s Call On World Bank To Focus On Northern Nigeria
Former vice president Atiku Abubakar has reacted to a disclosure by World Bank president, Jim Yong Kim, that President Muhammadu Buhari sought the institution’s support for Northern states. In a Facebook post on Saturday, Atiku stated that news of assistance to Nigerians by international...- mrsam
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Business IMF Stamps Nigeria's Recovery From Recession
The International Monetary Fund, IMF, has projected that Nigeria's economy will recover from recession in 2017. IMF's latest World Economic Outlook (WEO) says Nigeria Gross Domestic Product (GDP) will grow by 0.8 percent in 2017 and 2.3 percent in 2018, buoyed by increased crude oil production...- LequteMan
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Business Nigeria's Inflation Rate Hits 18.55%
Nigeria’s headline inflation has risen to 18.55 per cent its highest in more than 11 years, as World Bank predicted the country will get out of recession and grow its Gross Domestic Product by one per cent in 2017. In its January 2017 Global Economic Prospects report released on January 11, the...- ProfRem
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Business Nigeria: Economic Recession Will End In 2017 – World Bank
Nigeria will get out of recession and grow its Gross Domestic Product by one per cent in 2017, World Bank has predicted. In its January 2017 Global Economic Prospects report released on Wednesday, the global lender said that sub-saharan African growth is expected to pick up modestly to 2.9 per...- ProfRem
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Metro Nigeria: World Bank Donates N50m To 6 States
The World bank has donated the sum of 50 million dollars to assist the six insurgent affected North-Eastern states of Borno, Yobe, Adamawa, Bauchi, Taraba and Gombe under the FADAMA programme. The Team Leader, Dr. Adetunji Oredipe who stated this while speaking to newsmen, said the reason...- kemi
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Business Nigeria: FG To Borrow N1.8trn to Revive Crashed Economy
The Minister of Finance, Mrs Kemi Adeosun has said that President Muhammadu Buhari-led federal government plans to borrow a total of 1.8 trillion Naira at home and abroad to fund an expected budget deficit of 2.2 trillion Naira. Mrs. Adeosun said in Abuja on Friday that the government is set to...- ProfRem
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Metro Drowned Officials Not World Bank Staff, Ekiti Govt Releases Names
The Ekiti State Government has said that the four persons who died during the week at Egbe Dam in Gbonyin Local Government Area of the state, were not World Bank officials. Initial report by the News Agency of Nigeria had quoted the head of the local area council as saying the victims were...- kemi
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Metro Four World Bank Officials Drown in Ekiti Dam [GRAPHIC PHOTOS]
Four World Bank consultants have drowned in Egbe River in Egbe community, Gbonyin Local Government Area of Ekiti State. The four were said to be working on a World Bank assessment mission to the river and had commenced work on Tuesday night. See photos below:- kemi
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Politics World Bank Seek More Time to Give Details on Spending of Abacha’s Loot
The World Bank has asked for time to provide a detailed response to a request by the Socio-Economic Rights and Accountability Project, (SERAP) for information on the spending of recovered assets from Late General Sani Abacha. The World Bank Access to Information Committee made this plea in a...- kemi
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Business World Bank Praises Kachikwu’s NNPC Transparency Initiative
The World Bank has praised the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, for bringing transparency and accountability to bear on the operations of the Oil and Gas Industry in Nigeria. The Managing...- ProfRem
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Business Nigerians Should Expect Increase in Interest Rates Again – CBN
The Central Bank of Nigeria governor, Godwin Emefiele, on Saturday, hinted at a probable increase in lending rates sequel to the unrelenting headwinds that keep pushing up the nation’s inflation rate. Emefiele, who spoke with journalists on the sidelines of the ongoing World Bank/IMF Spring...- ProfRem
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Business Nigeria Seeks $3.5bn Emergency Loans From World Bank, AfDB to Fund 2016 Budget
Nigeria has asked the World Bank and African Development Bank for $3.5 billion in emergency loans to fill a growing gap in the 2016 budget, FT reports. The budget, which is currently at the national assembly, was predicated on $38 per barrel of crude oil, but prices have already fallen to $30...- ProfRem
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Business Nigeria's Aviation Sector is Collapsing - FG Raises Alarm
Federal Government has cried out to the World Bank that the country’s aviation sector was at the verge of collapse. The Minister of State, Aviation, Sen. Hadi Sirika raised the alarm while discussing the possibility of World Bank providing support for Project development in the Aviation Sector...- ProfRem
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Politics FEC Approves $200m World Bank Loan For Lagos
The Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari yesterday approved $200 million World Bank loan for Lagos State. It was disclosed by the Minister of Information, Lai Mohammed after the meeting. According to him, it was part of a $600 million loan granted...- ProfRem
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Politics World Bank tells Buhari: Now Is The Best Time To Remove Fuel Subsidy
The World Bank has advised President Muhammadu Buhari to act now if he is seriously considering the removal of fuel subsidy. The World Bank’s Lead Economist, John Litwack, said Tuesday the best time to take such decision is now. While the Buhari administration has hinted at its intention to...- ProfRem
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