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Days After Criticising AfDB, World Bank Approves $2.1bn Development Projects for Nigeria in 2020

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The World Bank on Tuesday approved six projects valued at $2.1885 to support Nigeria’s development priorities, including improving immunization, enabling a stronger business environment for the private sector, expanding the digital economy to promote job creation, and increasing public and private sector capacity on governance and social and environmental safeguards.

This is coming just days after the World Bank came hard on Dr. Adewunmi Adesina-led African Development Bank (AfDB) for “pushing loans” to Nigeria.

Hear World Bank:

“Nigeria is central to the World Bank Group’s mission of tackling extreme poverty. The World Bank is carefully targeting its support on high impact projects as the country works to tackle corruption and lift 100 million of its people out of poverty,” said David Malpass, World Bank Group President.

“These projects focus squarely on delivering better services for Nigerians: ensuring that children are immunized and sleep under mosquito nets, building better roads especially in rural areas, and providing Nigeria’s poorest citizens with a unique identification that will make social safety nets and services more effective,” said Shubham Chaudhuri, World Bank Country Director for Nigeria.

The approved program of support in fiscal year 2020 comprises the following projects:

  • Immunization Plus & Malaria Progress by Accelerating Coverage and Transforming Services will strengthen health systems to deliver effective primary health care and improve immunization, malaria control, and child and maternal health in selected states. Among key results, the project aims to broaden vaccination coverage, increase the percentage of children under five who sleep under insecticide-treated nets from 28 to 41%, and improve the percentage of women who receive post-natal check-ups from 47 to 55%. The project is financed under concessional terms through an International Development Association (IDA) credit of $650 million.
  • Nigeria Rural Access and Agricultural Marketing Project will upgrade rural roads and improve connectivity and access to local markets and agrobusiness services in 13 states. Specifically, the project will upgrade about 1,600 kilometers of rural roads and improve 65 agro-logistics centers. These interventions are expected to boost the proportion of population who live within two kilometers of an all-season road by up to 10%. The project is co-financed through an IDA credit of $280 million, $230 million from the French Development Agency, and $65m from the Government of Nigeria.
  • Nigeria Digital Identification for Development Project will support the National Identity Management Commission to increase the number of persons who have a national identification number (NIN) reaching about 150 million in the next three years. This will enable people in Nigeria, especially marginalized groups, to access welfare-enhancing services. The project will also enhance the ID system’s legal and technical safeguards to protect personal data and privacy. This is co-financed through an IDA credit of $115 million, $100 million from the French Development Agency, and $215 million from the European Investment Bank.
  • Ogun State Economic Transformation Project will catalyze private investment in Ogun State by improving the business environment, strengthening the linkages between agricultural producers, suppliers and service providers, and providing training and apprenticeships for women and farmers. Among some of the key results, the project will facilitate collaboration between farmers and agribusinesses improve STEM teaching in up to 70% of public secondary schools. This is financed through an IDA credit of $250 million.
  • Innovation Development and Effectiveness in the Acquisition of Skills Project will strengthen the skills of 50,000 Nigerian students and enhance the capacity of technical teachers to better equip them for jobs in the formal and informal sectors. The project aims to increase the female enrollment rate from 13% to 23% in technical colleges and provide recognized skills and certification to 3,000 youth after they complete an informal apprenticeship. This is financed through an IDA credit of $200 million.
  • Sustainable Procurement, Environmental and Social Standards Enhancement Project will strengthen capacity in managing procurement, environmental and social standards in the public and private sectors. The project will enhance the skills of over 21,000 people and help 4,000 professionals become certified in procurement, environment and social standards. It will also ensure that accredited degree programs meet International best practice and Good International Industry Practice in these areas. The project will help tackle corruption and the risk of environmental or social harm as investments are implemented. This is financed through an IDA credit of $80 million.

The World Bank and IDA

The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 76 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.6 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries. Annual commitments have averaged about $21 billion over the last three years, with about 61 percent going to Africa.

Source: ReliefWeb

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Claims I Tele-guided Militants, Did Nothing About ‘Bombed’ Assembly Complex Untrue, Fubara Tells Tinubu, AGF

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Suspended Rivers State Governor, Siminalayi Fubara, has debunked allegations that he tele-guided attacks on oil installations by suspected militant groups in the state.

Also, the governor said that claims that he did nothing to rebuild the bombed State House of Assembly after he ordered its demolition are untrue.

The Governor explained he acted on expert advice before demolishing the complex, which was said to have integrity issues.

Fubara, in a statement issued in Port Harcourt by his Chief Press Secretary, Nelson Chukwudi, said it was important to straighten the records.

Recall that President Bola Tinubu, in his speech while declaring a state of emergency in Rivers, berated the Governor for doing nothing to prevent the attack on oil pipelines.

But the suspended Governor insisted that the allegations were untrue, saying the attacks were ignited by the comments of the Minister of the Federal Capital Territory, Nyesom Wike, who during his media chat described the Ijaw as minorities.

He also said that Ijaw leaders and groups had asked the FCT Minister to apologize for his disparaging comment about the Ijaw, but their call fell on deaf ears.

The statement reads in part, “Our attention has been drawn to a number of allegations claiming that the Governor of Rivers State, His Excellency, Sir Siminalayi Fubara, did nothing to dissuade criminal groups and militants from making good their threats to attack oil installations in the State.

“There was also another claim that after demolishing the Hallowed Chambers of the State House of Assembly on Moscow Road in Port Harcourt, the Governor did nothing to rebuild the facility.

“Ordinarily, we would have ignored the statements as mere results of lack of adequate information to the Presidency by those tasked with the responsibility of providing same to guide decision-making, but it has become imperative to set the records straight and correct the erroneous impression such narratives are creating in the minds of the Nigerian people.

“First, it is important to clarify that Governor Fubara has nothing to do with the threats by militants and also did not in any way “telegraph” the reported attacks on any oil facility in the State.

“It is on record that the reaction of stakeholders in the Niger Delta, especially elders, chiefs, women, Ijaw National Congress, its youth wing, IYC, as well as militants, among others, was triggered by remarks by the Minister of the Federal Capital Territory (FCT), Chief Nyesom Wike, in a live media chat, during which he dismissed Ijaws as a minority of the minorities and powerless in the Nigerian polity, saying that Ijaws are not the only ones that are militants and can blow up pipelines; that Ogonis, Ikwerres, and others are also militants and can as well blow up pipelines.

“Most of the Ijaw groups and leaders even demanded an apology from the FCT Minister, which he rebuffed.”

The governor continued, “Available public records show that Governor Fubara, on several occasions and at every forum, including all the project commissioning events as well as the handover of the AW139 Helicopter to the Nigerian Air Force, between March 3 and 13, 2025, made it clear that his administration was committed to the peace, security, and safety of oil facilities in the State.

“He often recalled his pivotal role as a member of the Presidential Committee on the Protection of Oil Installations in the Region, and repeatedly emphasized the need to protect oil pipelines and other facilities in the State, urging his supporters and the people of the State to avoid acts capable of destabilising the state or sabotaging the nation’s economy.

“Since inception as the Chief Executive of Rivers State, Governor Fubara has prioritized investment in upscaling the welfare and operational equipment of all personnel and arms of the Armed Forces and security agencies in the State by building livable office and residential accommodation for officers and men and donating vehicles, gunboats, helicopters, and other critical needs of the formations to enhance efficiency and effectiveness in the performance of their duties.

“His commitment to total peace and good governance in the State has contributed significantly to increased oil production and revenues for the country since May 29, 2023, as the continuous rise in the accruable revenue from the State into the Federation Account has shown over the months.”

The statement said, “It is on record that Governor Fubara acted based on professional advice and guidance.” The statement denied the claim that the governor acted with impunity to demolish the Hallowed Chambers of the State House of Assembly and did nothing to rebuild them 14 months later.

He added, “Let it be clarified that the former Governor and now FCT Minister repeatedly criticised the dilapidated and leaking Assembly Complex. During the commissioning of the Assembly Quarters in August 2022, he challenged the lawmakers to take responsibility for the poor state of the edifice, rejecting requests to rebuild it to ensure a conducive legislative environment for the lawmakers.

“It must be noted that immediately after the incident of October 29, 2023, and experts’ reports, the Government decided to heed the age-old demands of the lawmakers to rebuild the facility and promptly demolished the dilapidated structure to give way to a state-of-the-art Assembly Complex, which is now nearly 80 percent completed.

“It would be recalled that in the wake of the most peaceful and violence-free Local Government election in the State on the 5th October, 2024, the supporters of the FCT Minister violently attacked and razed facilities in some local government council secretariats without any reprisals from Governor Fubara’s supporters.

“It is also pertinent to draw the attention of security agencies to the fact that LGAs where those attacks were unleashed are the same places that have repeatedly witnessed violence perpetrated by detractors of the Governor Fubara-led administration.

“This is why the security agencies need to focus on the real purveyors of violence, critically evaluate these incidents, and diligently undertake investigations to unravel the elements behind the crimes and bring them to justice without let or hindrance.

“It is clearly untrue that somebody who has all the while preached peace and non-violence, even in the face of extreme provocations, would be ‘telegraphing attacks on oil pipelines’ and breaching the peace he has worked so hard to promote and sustain for the good of the people of the State.”

The Punch

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Madam Beatrice Abiodun Awomosu Thanks God at 80

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By Ruth Udeme

Joy indescribable, was written all over the face of Madam Beatrice Awomosu, when close family members and friends gathered in Ibadan, Oyo state to celebrate her entry into the octogenarian club.

The elegant matriarch, who is the mother of the stylish CEO of Jummhy Exclusive Fabrics, Mrs Jumoke Oyeneyin, marked her special 80th birthday in the house of the Lord, a recognition of His grace and divine mercies in her life over the years.

The thanksgiving service, which was held at Christ The Good Shepherd Catholic Church, Ibadan was a glorious outpouring of hymns, songs, praises and prayers all the way.

The officiating minister, who delivered the sermon, described the celebrator as an unwearied leader in the vineyard of the Lord, praying that God will shower her with excellent health and keep her alive to continue enjoying her children and grand children.

In her remarks, during the ceremony, her elated daughter, Mrs Jumoke Oyeneyin, who was filled with happiness that her mother was healthy and strong at 80, also noted that the hand of God was indeed upon the family.

The lively service was soon concluded after which guests moved to the Sunlight Royal Event Center, in the heart of Ibadan, for a classy one-in-town reception.

The venue had been creatively transformed by the inimitable Finesse Events who planned the event. Guests were pampered like royals, Choice drinks and gourmet dishes of various kinds flowed freely.

The ceremony was compered by Gbenga Adeyinka 1st, and had excellent music contents from great performers such as Beejay Sax, King Sunny Ade and Aristos Band.

Phots: Ken Ehimen

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Senate Approves Tinubu’s ₦1.77trn Loan Request

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The Senate has granted approval to the ₦1.77 trillion ($2.2b) loan request of President Bola Tinubu after a voice vote in favor of the request.

The Senate presided by Deputy Senate President, Barau Jibrin, approved the loan after the Senate Committee on Local and Foreign Debts chaired by Senator Wammako Magatarkada (APC, Sokoto North) presented the report of the committee.

The request which was submitted by the President on Tuesday is part of a fresh external borrowing plan to partially finance the N9.7 trillion budget deficit for the 2024 fiscal year.

Tinubu had on Tuesday written to the National Assembly, seeking approval of a fresh N1.767 trillion, the equivalent of $2.209 billion as a new external borrowing plan in the 2024 Appropriation Act.

The fresh loan is expected to stretch the amount spent on debt servicing by the Federal Government. The Central Bank of Nigeria recently said that it cost the Federal Government $3.58 billion to service foreign debt in the first nine months of 2024.

The CBN report on international payment statistics showed that the amount represents a 39.77 per cent increase from the $2.56bn spent during the same period in 2023.

According to the report, while the highest monthly debt servicing payment in 2024 occurred in May, amounting to $854.37m, the highest monthly expenditure in 2023 was $641.70m, recorded in July.

The trend in foreign debt servicing by the CBN highlights the rising cost of debt obligations by Nigeria.

Further breakdown of international debt figures showed that in January 2024, debt servicing costs surged by 398.89 per cent, rising to $560.52m from $112.35m in January 2023. February, however, saw a slight decline of 1.84 per cent, with payments reducing from $288.54m in 2023 to $283.22m in 2024.

March recorded a 31.04 per cent drop in payments, falling to $276.17m from $400.47m in the same period last year. April saw a significant rise of 131.77 per cent, with $215.20m paid in 2024 compared to $92.85m in 2023.

The highest debt servicing payment occurred in May 2024, when $854.37m was spent, reflecting a 286.52 per cent increase compared to $221.05m in May 2023. June, on the other hand, saw a 6.51 per cent decline, with $50.82m paid in 2024, down from $54.36m in 2023.

July 2024 recorded a 15.48 per cent reduction, with payments dropping to $542.50m from $641.70m in July 2023. In August, there was another decline of 9.69 per cent, as $279.95m was paid compared to $309.96m in 2023. However, September 2024 saw a 17.49 per cent increase, with payments rising to $515.81m from $439.06m in the same month last year.

Given rising exchange rates, the data raises concerns about the growing pressure of Nigeria’s foreign debt obligations.

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