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The World Bank’s Senior Vice President by the name of Indermit Gill, who is originally Indian, incited mass panic in Nigeria on October 14 when he said Nigeria would need to sustain its current soul-sucking, agonizingly punishing, and self-destructive “reforms” for “at least another 10 to 15 years to transform its economy.” Gill’s speech at […]
Continue ReadingChairman of the Board of Trustees (BOT) of the Centre for Transparency Advocacy, Dr Chima Amadi yesterday said economic remedies from the International Monetary Fund (IMF) and the World Bank cannot revive the Nigerian economy. He also said the policies of the two international financial institutions may not be able to raise 200 million Nigerians […]
Continue ReadingNigerian Naira is among the worst-performing currencies in Africa, the World Bank has said. It noted that the currency weakened by nearly 40 per cent against the US dollar since a mid-June devaluation. The global bank explained in its report titled, ‘Africa’s Pulse: An analysis of issues shaping Africa’s economic future (October 2023 | Volume […]
Continue ReadingEkiti State Government has said that the World Bank’s $25 million School Improvement Grant (SIG) released to the state would spur enrolment, increase beautification and quality of education in the 203 benefiting schools in the State. The government urged stakeholders in the benefiting schools to take ownership of the World Bank projects being executed, for […]
Continue ReadingPoverty reduction in Nigeria stagnated since 2015, with more Nigerians falling below the poverty line over the years, the World Bank says. Nigerian President, Muhammadu Buhari, was first elected into the office of president of Nigeria in 2015. According to the Washington-based bank, the number of poor Nigerians is projected to hit 95.1 million in […]
Continue ReadingThe World Bank has blacklisted 18 Nigerian companies and individuals for engaging in corrupt practices, fraud, and collusive practices in its 2021 fiscal year. A list of debarred individuals and firms was presented in a new annual report titled World Bank Group Sanctions System FY21. The debarments were made by the World Bank Sanctions Board, World […]
Continue ReadingThe World Bank has disclosed that about 87% of all the poor people in Nigeria are from the northern region of the country. The South-south region of the country recorded the most significant drop in poverty between 2011 and 2016, as disclosed in the report by the Bretton Wood institution titled, ‘Advancing social protection in […]
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