World Bank rates Nigeria fourth in Global Trade Logistics in West Africa

The World Bank has ranked Nigeria in fourth position among West African countries in its Global Trade Logistics Performance Index (LPI) for 2016. Leading the pack of success for the sub-region was Cote D’Ivoire, with Senegal coming second, while Sao Tome came third. Though Nigeria left Ghana to the fifth position, it is still seen…

Kenya needs two million homes to curb slum explosion – World Bank

Kenya needs to build two million affordable city homes to meet its housing deficit and stem the growth of its sprawling slums, already home to six out of 10 urban households, the World Bank said on Wednesday. Investment in housing would also create jobs, improve economic growth and strengthen the east African country’s financial sector, it……

Economic growth under Jonathan was fake – World Bank

The president of Nigeria Economic Society and a World Bank consultant, Olu Ajakaiye has stated that the economic growth recorded from 2010 to 2014, under the leadership of Goodluck Jonathan, was fictitious in nature. He further stated that the Muhammadu Buhari-led government and subsequent Nigerian governments must develop the country, even if it means stealing from other……

World Bank, AfDB may soon approve Nigeria’s $3.5bn loan facilities –Moody

With the relative stability in the Niger Delta and improved oil price in the international market, Nigeria’s loan requests with the World Bank and the African Development Bank (AfDB), totaling $3.5 billion may be approved in 2017, according to an international investment advisory agency, Moody. But despite the perceived positive development in Nigeria’s economy, Moody…

World Bank to execute 150m US-dollar projects in Adamawa-Governor

Gov. Mohammed Bindow of Adamawa has said that the World Bank planned to execute projects worth 150 million US dollars in the state. Bindow made this known on Wednesday during the opening of the state executive council meeting in Yola. He said that the projects would be executed between four and six years in nine……

World Bank approves N756m for 81 beneficiaries of FG’s youth empowerment scheme

The World Bank, under its Growth and Employment (GEM) project, has approved N756.3 million for disbursement to 81 young Nigerian innovators who participated in the 2016 Aso Villa Demo Day (AVDD). The AVDD is one of the economic empowerment initiatives of the present administration. A document obtained from the World Bank-funded GEM project on Monday……

Farmers attract $200bn World Bank loan to Nigeria

Small and medium-scale farmers in Nigeria have attracted $200 million World Bank loan facility to the country. The bank’s loan will have a low-interest rate, and a maturity of 25 years, with a five-year grace, or moratorium. The International financial Institute was quoted by Reuters as confirming the development, adding that the money will help…

World Bank approves $200m agric-credit to Nigeria

The World Bank has approved a 200 million dollars credit facility to further support Nigeria, in its efforts to enhance agricultural productivity of small and medium scale farmers. In a statement made available to journalists on Friday in Abuja, The Word Bank Country Director, Mr Rachid Benmessaoud said the loan was in recognition of agriculture……

World Bank disburses another $1bn loan to Egypt

The World Bank has disbursed another one billion dollars in financial assistance to Egypt out of its three billion dollars loan programme with the country, the bank said in a statement on Monday. Egypt had been negotiating billions of dollars in aid from various lenders to help revive an economy hit by political upheaval since……

World Bank extends project duration in Delta to create more jobs

The State Employment and Expenditure For Results Project (SEEFOR), an interventionist project of the World Bank and the European Union (EU), has extended its activities in Delta by two years. The Project Coordinator in the state, Mr Benson Ojoko, disclosed this in an interview with the News Agency of Nigeria (NAN) in Asaba on Sunday.……