Tag: World Bank
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Forex crisis: World Bank blames CBN’s fixed exchange regime
The World Bank has blamed Nigeria’s continued foreign exchange instability on the fixed exchange regime in the official forex market. In a publication on African economies titled: ‘Africa’s Pulse,’ the World Bank singled out Nigeria and Angola as two countries that had yet to experience stability in the forex market despite rebound in the prices…
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We’ll do our bit to ensure famine, poverty is kicked out of Nigeria – World Bank, IMF
The World Bank and International Monetary Fund, IMF on Thursday said it will do everything possible to ensure famine and poverty is kicked out of Nigeria especially the Boko Haram crisis riddled North-East region. The President of World Bank, Jim Yong Kim said this in his opening remarks at the ongoing World Bank/International Monetary Fund…
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Ogun to partner World Bank, ADB on 500km road projects
The Ogun State Government, in collaboration with the World Bank and the Africa Development Bank (ADB), have concluded arrangements to construct 500 kilometres of rural roads to enhance social -economic activities in the state. Governor Ibikunle Amosun disclosed this on Thursday at a stakeholders’ meeting held at the Oba’s complex, Oke Mosan, Abeokuta. According to…
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World Bank approves N756m for 81 beneficiaries of Buhari’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…
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World Bank: Nigeria’ll rebound from RECESSION, grow at a 1.0 percent pace
A new World Bank (WB) report has forecast Nigeria will rebound from recession and grown at a 1.0 percent pace in 2017. The World Bank report said sub-Saharan Africa economy is expected to pick up modestly to 2.9 percent in 2017 as the region continues to adjust to lower commodity prices. However, growth in South…
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Nigeria’s economy will rebound this year – World Bank
Amidst the current economic challenges facing the country, the world bank has offered some hope as it predicted a better economy for the year. The bank noted that the nation will grow its Gross Domestic Product, GDP by one percent and move past the recession timeline. This was revealed in a statement by the…
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Nigeria’ll get out of recession this year, says World Bank
The World Bank has predicted that Nigeria will get out of recession and grow its Gross Domestic Product by one per cent this year after plunging into its worst recession in over two decades. The bank said in a statement on Wednesday, “Sub-Saharan African growth is expected to pick up modestly to 2.9 per cent…
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NPA to collaborate with govt. agencies to improve World Bank ranking
The Nigerian Ports Authority (NPA) has called for continuous collaboration between government agencies and other stakeholders to achieve collective success and move up their ranking position by the World Bank. The Managing Director of NPA, Ms Hadiza Usman, made this known in an interview with newsmen in Lagos. Usman said that it was important to…