Tag: World Bank
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World Bank approves $486m credit to Nigerian power grid work
World Bank has approved a 486 million dollars credit facility to Nigeria for electricity grid improvements, the lender said on Friday. “The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said. Nigeria’s power…
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Nigeria’s economic growth will rise by 2.5 per cent in 2018 – World Bank
The World Bank on Tuesday predicted that the country’s economic growth will raise to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade. According to the World Bank’s January 2018 Global Economic Prospect report released on Tuesday in Washington DC, Nigeria’s Gross Domestic Product (GDP) is…
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World Bank to cease financing upstream oil and gas by 2019
The World Bank said on Tuesday it would no longer finance upstream oil and gas projects after 2019, apart from certain gas projects in the poorest countries in exceptional circumstances. “As a global multilateral development institution, the World Bank Group is continuing to transform its own operations in recognition of a rapidly changing world,” the…
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World Bank: ‘Buhari is a true elder statesman, his statement deliberately misconstrued’ – Oshiomhole
Immediate past governor of Edo State, Comrade Adams Oshiomhole has said President Muhammadu Buhari’s request asking the World Bank to divert developmental strides to the North-East was made in good fate to savage the raving conditions of the region as at the time the plea was made. TheNewsGuru.com reports that the Managing Director of the…
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World Bank: Buhari’s request to divert developmental strides to North-East in order – Shettima
Governor Kashim Shettima of Borno State has said that President Muhammadu Buhari’s appeal to the World Bank was aimed at address economic rebuilding and humanitarian crisis in the North-East. TheNewsGuru.com reports that the Managing Director of the World Bank, Jim Yong Kim on Thursday said the president of specifically placing a request that the bank…
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Scale up renewable energy, Nigeria tells World Bank, IMF
Nigeria has asked the World Bank Group and the International Monetary Fund (IMF) to scale up the provision of and access to renewable energy in order to deliver development results and meet global climate goals. Nigeria’s position on renewable energy and regional integration was presented by the Minister of Finance, Mrs. Kemi Adeosun, during the…
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18 states to benefit from $500m World Bank projects
Mr Ularamu Ubandoma, the National Coordinator, Rural Access and Mobility Project (RAMP) says 18 more states will benefit from 500 million dollars World Bank assisted projects. The project is under the Rural Access and Agricultural Marketing Project (RAAMP3). Ubandoma said this at the unveiling of selected participants in the 18 states under the RAAMP 3…
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World Bank: Buhari not placing north above other regions – Presidency
The Presidency on Friday said President Muhammadu’s Buhari’s reported request from the World Bank to concentrate development strides to the north should not be seen as a deliberate attempt to malign other regions. TheNewsGuru.com reports that the Managing Director of the World Bank, Jim Yong Kim on Thursday accused the president of specifically placing a…
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Fani-Kayode lambast Buhari for urging World Bank to focus on Northern Nigeria
Former Minister of Aviation, Femi Fani-Kayode, has lashed out at President Muhammadu Buhari, after it emerged that he told the World Bank president, Kim Yong Jim, to concentrate on Northern Nigeria. Fani-Kayode, in a series of tweets on Friday morning, claimed Buhari sees Nigerians from the South and Middle Belt as “low-lifes, vassals and slaves”.…
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Buhari asked us to divert developmental strides to northern Nigeria – World Bank
The President of the World Bank Group, Jim Yong Kim on Thursday said President Muhammadu Buhari specifically requested that the bank restricts its developmental grants to the northern part of the country. TheNewsGuru.com reports that the northern Nigeria has over the years been ravaged by the deadly insurgent group, Boko Haram. The World Bank and…