Finance Ministry has requested $8.92m loan from the World Bank for stationery. EKO HOT BLOG reports that despite the alarming debt profile of Nigeria, the Home Finance Department of the Ministry of Finance, Budget and National Planning has requested about $8.93m from the World Bank to procure 21 items, which included office stationery, office furniture, … Read more
The US has repatriated $20m looted by Abacha to Nigeria to help fund infrastructure projects. Eko Hot Blog reports that the United States has transferred over $20.6 million to the Federal Government of Nigeria as part of efforts to repatriate assets stolen by late Military Head of State, Sani Abacha and his co-conspirators. EDITOR’S PICKS … Read more
Lagos State Government has sought increased collaboration with the World Bank for the development of mass housing schemes in the State. Eko Hot Blog reports that the Commissioner for Housing, Mr. Moruf Akinderu-Fatai, made the appeal during a working visit by a World Bank team led by Dr. Fuad Malkawi, Senior Urban Development Specialist and … Read more
Nigeria Now World Bank’s Fourth Highest Borrower With $13bn Stock Debt EKO HOT BLOG reports that rising debt has pushed Nigeria up the World Bank’s top 10 International Development Association borrowers’ list. EDITOR’S PICK SecureID Applauds LASG, Says Residents Cards Will Harmonise MDAs 2023: Wike Discloses Recent Findings, Warns PDP, APC, SDP Ahead … Read more
The World Bank has disclosed that at least 30,000 people die every year from pollution in Lagos. ..air pollution in 2020 in Lagos was responsible for over 30,000 premature deaths and more than half were infants of less than one year old EDITOR’S PICK Roots TV Founder, Kachikwu, Ends Moghalu’s Presidential Dream, Emerges ADC 2023 … Read more
The World Bank cut its global economic growth forecast for this year by almost a full percentage point, to 3.2% Malpass also said that many European countries were still too dependent on Russia for oil and gas EDITOR’S PICK Ukraine War: West Must ‘Prepare For War’, Says Ex-Nato Chief As Putin Unleashes Cruise Missiles In … Read more
Nigeria’s Economy To Grow By 2.5% In 2022 – World Bank EKO HOT BLOG reports that Nigeria’s economy is expected to grow by 2.5 per cent in 2022 and by another 0.3 per cent next year, the World Bank has projected. The World Bank gave the forecast in its latest Global Economic Prospects report, a … Read more
Lagos farmers to begin canned fish production in 2022 EKO HOT BLOG reports that local fish farmers are set to commence production of canned fish in Lagos by 2022, using catfish and tilapia. Speaking on Tuesday, Project Coordinator of World Bank-assisted Agro-Processing, Productivity Enhancement and Livelihood Support (APPEALS) Project in Lagos, Mrs Oluranti Sagoe-Oviebo, says … Read more
Activists have called on the global community to starve the military of aid EKO HOT BLOG reports that Sudanese protesters are urging world powers not to resume development aid to their government for fear of legitimising the October 25 coup and spoiling their country’s transition to democracy. Talk of restoring aid picked up after Prime … Read more
The loans were to finance critical infrastructural projects across the country EKO HOT BLOG reports that the Senate, on Wednesday, approved the federal government’s request to borrow $16.2 billion (about ₦6.651 trillion at ₦475/$ rate), €1bn (₦474.190bn) and a grant of $125 (₦51.3bn) under the 2018-2020 External Borrowing (Rolling) plan, totalling ₦7.635 trillion. The approval … Read more
The Taliban’s government is pressing for the release of billions of dollars of central bank reserves… EKO HOT BLOG reports that the Taliban has announced a complete ban on the use of foreign currency in Afghanistan. The move is expected to cause further disruption to an economy pushed to the brink of collapse by the … Read more
The United States also suspended aid to the country EKO HOT BLOG reports that the World Bank, on Wednesday, said it has suspended aid to Sudan following the military takeover that deposed the prime minister. “I am greatly concerned by recent events in Sudan, and I fear the dramatic impact this can have on the … Read more
World Bank blacklists 18 Nigerian firms, individuals for corruption –Report It was revealed that the business falsified its prior expertise in its proposal for a road maintenance contract.. Ekohotblog reports that per a recent study, the World Bank has blacklisted 18 Nigerian persons and organizations for participating in corrupt acts, fraud, and collusive practices in … Read more
Nigeria was sixth with a benefit of $2 billion, accounting for 3.12 percent… Nigeria has been ranked sixth among the top 10 countries with the highest exposure to funds and support from the World Bank. According to the International Finance Corporation (IFC), a member of the World Bank Group’s annual report, “Meeting the Moment”, Nigeria … Read more
The credit would fund the purchase of vaccines for 18 per cent of the population (40 million people)… The World Bank has approved a $400million credit to Nigeria. According to a statement issued on Friday, the additional financing from the International Development Association (IDA) will cover COVID-19 vaccine acquisition and deployment across the country. As … Read more
DMO stated that President Muhammadu Buhari-led government serviced its debt with World Bank and Exim Bank of China with $1.79 billion. President Muhammadu Buhari paid no less than $1.79 billion to World Bank and the Exim Bank of China within a period of five years. According to an analysis of data on actual external debt … Read more
The Governor of Imo State, Hope Uzodinma says President Muhammadu Buhari will visit the state on Thursday. EkohotBlog reports that the governor revealed this at Sam Mbakwe International Cargo Airport in Owerri on Saturday. The governor of the eastern state in Nigeria disclosed that his Abuja trip was to “address some political matters and some … Read more
The Agro-Processing Productivity Enhancement and Livelihood Improvement Support, APPEALS Project says it is in the process of Empowering Farmers especially women, youths and the physically challenged to improve their living condition. APPEALS State Project Co-ordinator Dr Marcel Agim stated this during a one-day stakeholders workshop for beneficiaries of Women and Youths Empowerment Programme, WYEP and … Read more
The NDU report by the World Bank estimated that despite the country’s gradual recovery from the 2020 recession, Nigerian masses will continue to suffer the adverse effect of the economic downturn. A new report authored by the World Bank says a full decade of economic growth in Nigeria is likely to be lost by the … Read more
…insecurity and conflict as well as the COVID-19 pandemic are responsible for the challenges The World Bank says Nigeria’s inflation rate is expected to rise to 5th highest in Sub-Saharan Africa by the end of 2021, behind only Zimbabwe, Zambia, South Sudan and Angola. The bank’s Lead Economist for Nigeria, Macro Hernandez, stated this on … Read more